Mortgage Protection Insurance

What is Mortgage Protection Insurance?

Mortgage Protection Insurance is offered in Texas. The Home Mortgage Series product provides living benefits. Yes, you heard that right: Life Insurance with living benefits! It also comes with a return of premium provision. If you don’t use the policy, you get your premiums paid back at the end of the term!

What does a mortgage protection insurance policy cover?

There is a variety of Affordable Mortgage Protection Insurance in Texas available, depending on what you are looking to be covered for.

Mortgage Income Replacement

This is the type that helps you cover your mortgage monthly payments. Incase of death or serious illness, the policy will pay out a certain set value every month to cover your monthly payments. This is also a decreasing term policy which means over time, the value will change as your monthly payments decrease. This one does not have a return of premium provision

The full bang

This is one of the most comprehensive policies that will cover you if you get terminally ill, critically ill, or chronically ill, and in the case of death (both natural or accidental). The policy, in most cases, will pay out in full! So, what does this mean?

  • If your policy is $100,000, and the doctor tells you that you have less than a year to live (Terminal Illness), the policy will pay you that full $100,000.
  • If your policy is $100,000, and the doctor tells you that you can’t do more than two basic functions of life for more than 90 days (Chronic Illness), the policy will pay you that full $100,000.
  • If your policy is $100,000, and you have a stroke, heart attack, etc and deems it a Critical Illness, the policy will pay you that full $100,000.

This policy also comes with a return of premium provision. If you don’t use the policy with-in the term, at the end of the term, you’ll get your premiums paid back to you in lump sum, tax free!

Do I need mortgage protection insurance in Texas?

There is no doubt that buying a house is one of the biggest financial decisions you’ll make. If you are confused about whether you need to get yourself a mortgage protection program in Texas or not, consider the following things:

  • In case, god forbid, something bad happens to you, what would happen to your home? How will your family handle everything? With Mortgage Protection Insurance in Texas, your family will easily pay off the mortgage and keep the house.
  • How will you be able to pay off your mortgage if you become sick and not able to work?

How does mortgage life insurance work?

Once you’ve gotten covered with Mortgage Protection Insurance, your term starts right then and there! You and your family can have an ease of mind.

Give me a call

Speak to me if you want more information about mortgage protection insurance or if you're one of the many households that are not protected. I will be able to see which form of mortgage protection works best for you. Give me a call today at 832-307-9794

GET INSURED TODAY!

Get Your Exclusive Life Insurance Plan Now!

NOT SURE WHAT YOU NEED?

Contact Me Now