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Mortgage Protection Learning Center
BEST PRICE, BEST QUALITY, & BEST SERVICE GUARANTEED OR YOUR MONEY BACK! (disclaimer)
What is Mortgage Protection Insurance
Mortgage protection insurance is policy designed to protect you and your family from foreclosure due to a premature death or disability of the primary or secondary bread winner. Having a mortgage is normally the largest debt for most families and the lack of a quality mortgage protection policy can have a lasting and devastating effect on the entire family due to loss of income caused by sickness, injury, or death.
Mortgage Protection Insurance allows you to:
Why is it so important to have a Quality Mortgage Protection Insurance Policy
Understanding your policy is the key to the quality it will provide for you and your family for years to come. Quality mortgage protection will make sure you completely understand your policy and the benefits it will provide to you and your family. All of our policies are fully transferable meaning if you refinance your home, the loan gets sold, or you sell your home to buy a new one, your plan will automatically transfer to your new mortgage. When your protection is established with one of our service providers rest assured your benefit will not change during the term of the policy and your premium will remain the same through out your term. Our plans always designate you as the owner of the policy meaning you control all aspects of your coverage such as the amount of the benefit, duration of the policy, and the beneficiary selection. We allow you to completely customize your plan and add the options you want that way you don’t pay for any thing you feel as though you don’t need.
Disability Insurance
According to the US Department of Housing and Urban Development, nearly half of all foreclosures are caused by disability. On top of that, according to the Social Security Administration, one in five people suffer long-term disability before the age of 65. Should you become disabled due to a sickness or illness you can establish an optional benefit to pay your mortgage payment, which gives you the ability to focus your attention on your health instead of how you will pay your mortgage payment. Our disability options will pay you for up to three months or until you reach the age 67, the choice is yours!
Mortgage protection insurance quotes takes just a couple of minutes. Just fill out your information and you will be able to protect your family no matter what happens! >>
Unemployment
Unemployment is a special concern for most homeowners and can cause difficult choices to be made if your income is decreased because of it. That’s why most of our plans at Quality Mortgage Protection offer unemployment protection. This benefit will pay or waive your premium for a specific amount of time allowing you to focus your attention on other bills and expenses. With unemployment protection you want have to choose between paying for your protection and a necessity such as: lights, gas, or food. It’s waived or paid for you.
Return of Premium
Want your money back if you don’t use your policy. In life we know something will eventually happen, either your here or your not. Most of our plans allow for you to receive 100% of all your premiums paid if you out live the coverage or don’t use the disability funds available to you. This benefit gives you the best of both worlds, protection when you need it and assurance when you don’t.
Wavier of premium
If you become disabled and the wavier of premium was selected by you, your policy will waive your premium after your qualification period for a specific amount of time. If you become permanently disabled your premium could be waived until you reach the age of 95. The waiver of premium is designed to take your stress away when your finances are decreased due to a disability.
Types of mortgage protection
Term insurance
Term insurance is one of the simplest forms of insurance. You purchase coverage for a specific price for a specified period. If you die during that time, your beneficiary receives the entire value of the policy. There is no investment component, but you can add the return of premium to this policy which guarantees all your money back if you out live the term.
Whole life
Whole life insurance is similar to term, but you purchase the policy to cover your “whole life” not just a set period. Premiums remain level throughout the life of the policy, and the company invests at least a portion of your premiums. Some companies share investment proceeds with policyholders in the form of a dividend. Many companies will offer “a relatively low guaranteed rate of return,” but in reality pay at a rate in excess of the guarantee.
Universal life
With a universal life policy you decide how much you want to put in over and above a minimum premium. The company chooses the investment vehicle, which is generally restricted to bonds and mortgages. The investment and the returns go into a cash-value account, which you can use against premiums or allow to build inside the policies cash value. If funded properly this policy can also last for the entire life of the insured, allowing you to set it up once and never have to do it again.
