What is Mortgage Disability Insurance?
What would happen to your home and your family if you were injured at work or in a car accident, or if you were to become ill and unable to work?
Paying the mortgage can be nearly impossible when you’re suffering from an illness or injury. Mortgage disability insurance pays the bill for you if you’re disabled and unable to draw an income.
We can offer mortgage disability insurance as a stand-alone disability policy or in conjunction with life insurance, so that your family is protected if you become disabled or if you pass away. You want to make sure your loved ones are protected from the loss of their home not only in the event of premature death, but also if something were to happen and you were disabled and unable to work and make the mortgage payment. Most households today rely on two income earners to cover the mortgage and monthly expenses. Therefore, mortgage disability insurance is important protection.
Why is Mortgage Disability Insurance so important?
Here’s a sobering fact. Nearly half of all foreclosures are caused by disability and medical problems. On top of that, according to the Social Security Administration, just over 1 in 4 of 20 year-olds (as of 2013) will become disabled before they retire. If you put two and two together, it’s pretty clear that disability is one of the most significant threats to your home.
Don’t let yourself become a statistic. With a mortgage disability insurance plan in place, you can rest assured that your home will be paid for regardless of your health. If illness or injury should occur, you can focus on recovery instead of worrying about how the bill gets paid.
If you’re a homeowner, you can speak with a licensed professional and obtain a free mortgage disability insurance quote by filling out the form to your right or by calling us at +1 (786) 307-6155. Our team of highly skilled mortgage protection specialists will work with you to develop a plan that fits your budget and coverage needs.