Mortgage Protection Life insurance is a policy specifically designed to help your family keep your home in the event something unexpected happens. Designed to pay off the mortgage in the event of a death it can also pay your monthly mortgage payments in the event of a disability.

The Hard Statistics: A forty year old man is almost 3 times as likely to suffer a long term disability than to die before age 65.

• At age 41 your chances of suffering a long term disability (90 days or longer) run about 39%
  
• Not just injuries … 90 % of disabilities are caused by illness rather than accident.

By utilizing the optional return of premium rider available on many mortgage protection policies, you can be entitled to a full refund of your premiums at the end of the poliy term if you never use the benefits.

A quality mortgage protection policy can help to give you and your family the peace of mind that comes with knowing that your home is protected in the event of an unexpected crisis. For many of us, our home is our most valuable asset. It only makes good sense to protect it.

As with most types of insurance, finding the most cost effective way to protect your mortgage can depend on many factors (age, health, occupation etc.). It is important to meet for a low key, half hour meeting with an agent who can help to determine not just what your needs might be, but what your needs actually are.

The Hard Statistics - Although no one likes to think about it, the likelihood of someone dying before a 30 year mortgage is paid off is;

Most often issued on a "simplified issue" basis, mortgage protection term life insurance can sometimes be an easier policy to qualify for. Although you must answer an array of health questions, they are usually issued without a health exam. Depending on your health status, a fully underwritten term life policy can be a more cost effective way to cover your mortgage. It is important to schedule a half hour interview in order to determine which type of policy would better suit your needs.

By utilizing the optional disability income rider available on many mortgage protection policies, this rider can provide the money to pay your mortgage payments in the event of a total disability. They typically have a 90-day elimination period and a one to two year benefit period. This coverage can often be the difference between keeping the home and losing it.