Insurance For Home Loan Protection
Mortgage insurance helps pay a portion or all of your mortgage if you were to die.
Insurance for home loan protection. Mortgage protection insurance is not required to get a mortgage. The reason mortgage protection insurance is not mandatory is that a mortgage loan is backed by your house. If you default on your payments the bank will foreclose on your home to recoup their money. Mortgage protection insurance mpi protects homeowners if a health issue arises and they become disabled or a job loss is lengthy.
Mortgage protection insurance is broadly similar to other types of term life insurance in how it works. Reedy insurance services provides home auto and business insurance for seymour and all of indiana. 812 522 8329 google maps yelp facebook twitter linkedin. Mortgage protection insurance also called mpi is basically what it sounds like.
Life insurance that s designed to protect your family from burdensome mortgage payments if the primary breadwinner is no longer around to provide an income. Depending on the policy mortgage insurance may pay off the entire mortgage a portion or for a period such as five years.
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