Keeping Your Home Covered From The Unexpected
What Is Mortgage Protection?
At John Nunes Financial & Insurance Services, we take pride in providing a wide range of life insurance products to our valued clients. Among our offerings, we are pleased to provide Mortgage Protection Insurance, or MPI, which is designed specifically to protect your most important asset - your home.
With MPI, you can rest assured that your coverage will provide complete protection for your home, without the need for a medical exam. This means that you can obtain coverage regardless of preexisting medical conditions.
Our MPI policies offer a range of benefits, including a death benefit to cover the full amount of your home loan, or monthly disability coverage for your mortgage payment. This means that in the event of unforeseen circumstances, such as an unexpected illness or disability, your family will not have to face the added stress of covering your mortgage payments.
Our team of mortgage protection advisers are here to help you create a customized MPI plan that is tailored to your specific needs and budget. Please don't hesitate to contact us today to learn more about how MPI can provide you with peace of mind and financial security for your home.
How Does Mortgage Protection Help?
Your Mortgage Protection Insurance can be used in a variety of ways. It can be paid out in one lump sum to pay off your home mortgage entirely, or you can choose to have the plan paid out in monthly installments, as mortgage payment protection insurance, should you become unable to work. You can also add your children to the plan so they can convert the insurance to their own coverage when they leave the nest.
Mortgage Protection Insurance is a risk free investment. Your premiums will be returned if you do not use the coverage, and we guarantee your premiums, so they will not increase as you age. Contact us so you and your family can relax knowing that your home is covered.
Do I Already Have Mortgage Protection On my Loan?
Most of the time, what you have is PMI (private mortgage insurance) already added in when you take out your loan. Homeowners are required to have this insurance if the balance of their loan is more than 80% of the original property value.
However, this mortgage insurance does not protect you, but protects your lender if you quit making your mortgage payments. Many homeowners believe they have protection because of this insurance and leave themselves open to tragic circumstances should something happen to their family or loved ones.
Why Should I Get Mortgage Protection Insurance Instead of Using The Life Insurance I Already Have?
Life insurance is meant to provide for living expenses for a long period of time should a provider pass away. Without Mortgage Protection Insurance, you would have to pay off your biggest debt using a large sum of your life insurance, drastically reducing the amount for your future living expenses. Contact us today to customize your mortgage protection plan.