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Mortgage Protection Insurance
Protect your home, secure your family:
Comprehensive protection for your most cherished asset.
Mortgage Protection Insurance (MPI) is a type of insurance designed to pay off your mortgage balance or make mortgage payments if you pass away or become unable to work due to a covered disability or critical illness. Unlike standard life insurance, which pays a lump sum to beneficiaries for any use, MPI is specifically linked to your mortgage. There are two main types:
Decreasing Term Life Insurance
This is the most common form of MPI. The death benefit decreases over time, aligning with the decreasing balance of your repayment mortgage. If you pass away, the policy pays out the remaining mortgage balance directly to your lender, ensuring your family doesn't lose their home.
Mortgage Payment Protection Insurance
This type of policy provides a monthly income benefit for a limited period (e.g., 12-24 months) if you're unable to work due to accident, sickness, or involuntary unemployment. It helps cover your mortgage payments during a period of financial hardship.
MPI offers peace of mind, protecting your home and family from financial distress in unforeseen circumstances.
For more information call 407-779-1730
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