Mortgage Protection Protect Your Most Significant Investment
For many people, their mortgage on their home is their largest, single investment. But they don't have plan to make sure the payments are made if they get sick, injured or pass away. Get information on how to start.
Mortgage Protection The Basics of Mortgage Protection
"Mortgage Protection" coverage is often provided by lenders. The problem is, these policies protect the lender and not you, the borrower. And they can be expensive.
With private Mortgage Protection policies the payment for any claims comes directly to you or your family. They can then make sure the mortgage is paid in full or the regular monthly payments are continued.
Basic coverage is a Life Insurance policy that will cover the term of the mortgage and will pay if the covered borrower passes away. But some newer polices are offering payment if the borrower survivies a heart attack, stroke or some other critical illness.
An enhanced level of coverage is available that will provide income replacement to cover not only the mortgage but other monthly expenses. This coverage kicks in if the borrower becomes sick or injured and is unable to work, and earn a pay check, for a period of time.
We work with many carriers and our experienced advisors can put together a plan that will match your budget and protection needs.
At Legacy Wealth Strategies we offer our clients Personal, Wholistic Wealth Mangement. This simply means we are not only looking to grow your wealth; but also to identify risks and dangers to your goals and help implement a plan to protect against them.