Purchasing a home is one of the biggest and most important decisions you’ll ever make. Once you’ve taken this giant step, you can take pride in the security and comfort your home provides for you and your family. But how secure are you?
Have you thought about what would happen to your home if you or your spouse dies, especially if you depend on two incomes to make your mortgage payments, or are on a fixed income? If your surviving family can’t afford the mortgage payments, where will they live? Will they be forced to sell their home at a reduced price?
Mortgage protection life insurance helps ensure that your family will enjoy your home for as long as they need it. You can cover your family by using one or a combination of several different types of life insurance products, including:
Level Term Life Insurance
This provides level coverage for specified periods of time usually five, 10, 20 or 30 years. As your mortgage decreases, the difference between your mortgage and Level Term Life insurance can provide for other important family needs such as helping replace income to your family if you die.
Whole Life Insurance
This form of permanent life insurance features a guaranteed level premium and a guaranteed level death benefit. As long as the premium is paid, the policy is guaranteed to stay in force. Unlike term insurance, Whole Life builds guaranteed cash value.
Universal Life
This form of permanent life insurance combines the advantages of permanent coverage and competitive cash accumulation with the flexibility to adjust the death benefit amount and the timing and amount of premium payments to meet the changing needs of the policy-owner for a lifetime.
This coverage can be tailored to meet your specific needs and goals. With a properly designed life insurance program you may be able to:
- Pay off your mortgage if you or your covered spouse should die
- Build cash reserves for emergencies and other needs
- Help provide for early mortgage payoff
We offer a number of insurance products that can help eliminate worry.
