Why Mortgage Protection?
Your home is your largest single asset and likely your family's largest single expense. How will your family pay for this asset in the unfortunate event that you pass away before their home is paid off? Like most Rhode Island or Massachusetts residents, you may have life insurance, but will your insurance policy be enough to pay for your burial and maintain your family's lifestyle for the long term? Will there be enough funds left from your primary policy to provide for your children's college education? What about your adult children? Will they be able to afford to keep the family home in the family?
In most cases, probably not. That's why you may need mortgage protection insurance. With the right mortgage protection insurance policy, you can provide your family with the peace of mind that goes with knowing that, in the event of your death, they will receive either a lump sum to pay off the mortgage or a monthly payment to cover the mortgage until it is paid in full. Either way, your family will not have to worry about losing their home. This coverage is affordable and highly recommended for young families, and an important part of your estate plan. Fill out the form below to get a personal quote from a Rhode Island licensed insurance agent. Sample term rates are available.
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