Mortgage Protection Insurance

Protecting your mortgage is one the first responsibilities that you must take upon yourself as a homeowner. Upon closing escrow, homeowners are urged to purchase mortgage protection insurance. The idea behind mortgage protection insurance is the same as with mortgage term life insurance, in that mortgage protection insurance protects all family members living in the home of being foreclosed on and evicted in the event of defaulting due to the death of the insured.

Your coverage amount can be used upon your death for anything your beneficiary(ies) would need. Your death benefit can vary from lump-sum to installment payouts depending on what mortgage protection insurance you choose. Previously, mortgage insurance premiums were determined by the outstanding balance of the mortgage. However, most quality mortgage insurance policies these days will pay the original mortgage balance, despite changes of value in your home throughout your mortgage insurance policy holding period.

Your death benefit can be used towards a number of expenses and are not limited to the mortgage payments. This coverage amount can be used to make payments on a number of things, including everyday bills and household expenses, credit card debt, auto loans, home equity lines of credit (HELOC's), tuition, funeral/burial expenses, and nursing home costs.

Many homeowners often get mortgage protection insurance confused with PMI (private mortgage insurance). PMI, also known as Lender's Mortgage Insurance (LMI), is the product in which the homeowner is required to purchase to protect the lender in the event of them defaulting on their loan. Unfortunately, it does not protect the homeowner what-so-ever. Mortgage protection insurance is a mortgage insurance policy, which is used to protect the homeowner's family in the event of their unexpected death. Upon the your death, your coverage amount (also referred to as your death benefit) of your mortgage protection insurance would be given to your beneficiary(ies) to pay off the mortgage and any other debts or simply used for everyday household expenses. Your mortgage insurance rates are guaranteed to not increase for the entire length of your mortgage insurance policy holding period, and unless you choose to do so, your coverage amount is guaranteed to not decrease for the entire length of your mortgage insurance policy holding period as well.

TermAdvantage is committed to finding you mortgage protection insurance that fits you and your family's specific needs and budget. Since mortgage protection insurance varies in price substantially, TermAdvantage shops over 2,000 mortgage insurance companies to find mortgage protection insurance custom-fitted to your exact specifications. While the decision to purchase mortgage protection insurance is an important one, TermAdvantage is committed to finding you the best available mortgage protection insurance at the lowest rate from the nation's highest-rated (A or better by mortgage insurance companies.

We offer mortgage protection insurance quotes, plans and rates to help you get the best deal available.

Get affordable mortgage term life insurance quotes, mortgage life insurance with low rates at TermAdvantage. We are a complete
online source for mortgage life insurance and all your other insurance needs.

Home | About Us | FAQ’s | Life Insurance | Life Insurance Quotes | Life Insurance Policy | Life Insurance Rates | Term Life Insurance | Term Life Facts
Mortgage Insurance Companies | Mortgage Insurance Quotes | Mortgage Insurance Rates | Mortgage Insurance Premium | Mortgage Insurance Protection
Mortgage Insurance Cost | Mortgage Insurance Policy | Mortgage Protection Insurance | Mortgage Life Insurance | Mortgage Protection | Term Life
Mortgage Protection Plan | Mortgage Insurance | Term Quotes | Term Insurance | Mortage Term Insurance | Mortage Term Life Insurance
No Exam Life Insurance
| Mortgage Protection Life Insurance | Mortgage Term Life | Mortgage Life Insurance Protection
Mortgage Life Ins | Mortgage Ins | Home Mortgage Insurance | Tips | Contact Us | Blog | Sitemap

Copyright © TermAdvantage Insurance Services, Inc. All Rights Reserved.

Valid XHTML 1.0 Transitional