Mortgage Protection Insurance — Is the mortgage protection they sell you what you want?

Home Buyers and Home Refinancers

If you have purchased a new home, or tried to refinance your old home, then you must have gotten a dozen cards and letters with the same message. You can protect your home mortgage in the even of death, disability, or critical illness. If you answer the ad, you are sure to realize that the product being sold is simply a type of term life insurance. Is that what you were looking for?

Now life insurance can be a good thing! If you are concerned about life insurance, compare life insurance here! However many people who answer the ads already have a considerable amount of life insurance. They were actually looking for unemployment or disability benefits, and don’t realize you cannot untie the life insurance FROM the disability insurance! If the applicant is willing to accept more life insurance in order get disability insurance, then they may be surprised to find out that their health and past history is scrutinized much more closely. Even some very common occupations may keep the disability from getting issued.

Despite the promise of NO MEDICAL EXAM, some health questions must be answered with traditional mortgage life insurance. Some YES answers on the health questions can trigger further inquiry from a life insurance company, and that can then include a doctor’s statement, Medical Information Bureau query, or even a medical exam!

Many younger borrowers are much less concerned about the life insurance benefit, than they are about protecting their mortgage and financial life in case they live, but hit a few snags! Unemployment, sickness, injury, and disability worry many American consumers more than death, especially if they already carry life insurance!

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Mortgage

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disability mortgage insurance, hospital indemnity, mortage protection insurance, unemployment mortgage insurance

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