What is Mortgage Protection Insurance?

Written by Brian McFedries Posted On Friday, 29 August 2014 12:03

State: Alabama
SOLD: 2
Old Article Id: 30260

What is Mortgage Protection Insurance?

No matter how an agent markets this program it is essentially a form of LIFE INSURANCE (We all know everyone loves to talk about Life Insurance). Like any other Life Insurance product it can come in the form of a permanent program (have coverage forever) or a term program (period of years typically 5yrs-40yrs). You can get what is called a non-medically underwritten policy or a fully medically underwritten policy. If you are in good health a fully medically written policy is less expensive. Any life insurance policy can be structured to try and fit the protection & budget you need.

About Your agent Brian McFedries;
Typically this is the section where an agent will discuss how long they have been in the business, their sales numbers, how many families they have helped etc. They may talk about how important any particular type of insurance program helps protect your family, assets or home. Any solid financial plan should include different insurance products, and they can be tailored to fit your needs or budget. What is most important are the benefits and protection that insurance affords any particular client or consumer. All of this is true to some extent. But, at the end of the day the “Core Truth” for any individual is that they have to believe the protection is important. If it is NOT important than STOP right here!
What I believe about Insurance:
In general if you look at any financial or insurance product and break it down. You will literally find some benefits and some flaws to the program or product. Ask 5 different financial advisers and they will offer 5 different opinions based on background, beliefs, and most importantly what type of financial license they carry. Here is what I do know with the utmost certainty. 1. Every individual needs at least some type of basic financial or insurance plan to protect against the unforeseen. Even though any financial or insurance plan is never going to be perfect it is at least a starting point in which to move forward. 2. Your life is going to change over time sometimes for the better sometimes for the worse. How you plan to protect against the negative impacts in life will help determine your family’s financial security.
On a personal note: My father passed away in 2009 and his life insurance policy paid off the home; otherwise my mother would have been forced to sell. He carried the policy for 30+ years. I personally carry what is called a Variable Universal Life Insurance Policy to protect my family.
What to do? There are a lot of life insurance products and it can be confusing as to what route to take. If this is your first experience purchasing life insurance? Start off with something simple just to protect yourself.
If you would like to get rate quotes without giving any personal information? Go to www.sdlifeplan.com

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