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Mortgage Protection Insurance

As a homeowner, you pay for homeowners insurance to cover a wide range of worst-case scenarios that can impact your property. Mortgage protection insurance (MPI) is a different type of safeguard that could be helpful if you’re unable to repay your mortgage.

What is mortgage protection insurance?

Mortgage Protection Insurance policies function as a type of life or disability insurance. The cost of the monthly premium varies depends on the amount of the mortgage, your age and your health and will cover the principal and interest portion of a mortgage payment.

In general, mortgage protection insurance is a good idea for people who can’t get approved for traditional forms of life or disability insurance, or for whom premiums for a traditional policy are cost prohibitive.

If you’d like to learn more about Mortgage Protection Insurance, leave your contact information below and I will give you a call to schedule an appointment to explain more on how it works and if this would be a great fit for you.