Mortgage protection insurance (MPI) is simply life insurance that pays your mortgage. If certain events, such as death, disability, or job loss occur, your mortgage will be paid by the insurer. For most homeowners, a mortgage is the largest source of personal debt. Like most life insurance, mortgage protection insurance eases the financial burden of your loved should you become sick, have an accident, or become unemployed. The costs of your mortgage protection insurance policy will vary depending on the amount of your mortgage, age, health, and your occupation. Mortgage Payment Protection Insurance (ASU) is designed to help cover a policy holder’s mortgage payments. It is called ASU because they may be cover you for accidents, sickness, unemployment, or a combination all three. Typically, these policies pay out for a fixed period time. Why should I choose mortgage protection insurance?
- Can your family afford the mortgage without your income?
- How many years are left before the mortgage is paid off?
- Can you continue paying your mortgage if you are out of work for an extended period?
- Can you afford the monthly mortgage protection premiums?
If you are concerned about any of the questions above, take the steps necessary to protect yourself and your family today! As an independent insurance agency, NorCal Quote will compare rates at multiple companies and take the time to explain the coverage options that are being offered to you. It is important to you and your family that you purchase the best mortgage protection plan possible. Also, remember that there are three main types of Mortgage Protection Plans :
- Mortgage life insurance
- Mortgage unemployment insurance
- Mortgage disability insurance
Any agent can offer insurance quotes. For us, it’s more than that. For more information on our mortgage protection insurance products, contact NorCal Quote at 707-923-2179 or fill out our form above for your mortgage protection insurance quote today.