Mortgage Protection


Purchasing a property requires a major financial and time commitment, depending upon the type of loan that you choose. But what would happen to your house if you passed away unexpectedly or were rendered unable to work?


As hard as you have worked to provide a happy life for your family by purchasing a home, you must ensure that you can continue to make your mortgage payments in the event of death or injury. 7 out of 10 families need two sources of income to cover their expenses.


Make sure the most important investments

are protected!


Would your family still be able to make the payments and stay in the house if you or your spouse were to die or get hurt? Consider getting mortgage protection if the answer is no or if you are unsure.



What is Mortgage Protection Insurance?

In the event of your death, mortgage protection may be able to pay off all or part of your mortgage. When a breadwinner dies, the partner is usually left with an unbearable burden, which frequently results in the loss of the family's home and a requirement to relocate or move in with relatives. Children who must switch schools and lose friends are impacted by this.


By purchasing mortgage insurance, you can get a check to assist with funeral expenses, mortgage repayment, or any other requirements you may have during this trying time.


Is Mortgage Protection Insurance the same as PMI?

PMI, or Private Mortgage Insurance, is not the same as Mortgage Protection Insurance. If you cease making mortgage loan payments, PMI, a sort of protection, protects the owners of your home loan, or in other words, it protects the lender. Many homeowners believe their PMI will pay off their mortgage in the event they lose their job, become disabled, or die. This assumption is untrue. You are not protected in any way by PMI as the borrower.


Even if you have PMI and are unable to make your mortgage payment, your house will probably still be foreclosed upon. If you take a traditional loan with a down payment of less than 20%, you will normally have to pay for PMI. Only when your equity reaches 20% may you terminate your PMI.


Whereas Mortgage protection insurance (MPI), unlike PMI, protects you as a borrower.

Mortgage Protection Strategy Consultation

We have helped thousands of clients and we want to help you too. Don't make the mistake of waiting until it is too late.


It cost you nothing to learn more about Mortgage Protection and get a quote.


Safeguard Insurance, LLC

Copyright 2022 -- All Rights Reserved


Insuring your health, life, and retirement.


Phone: 270-904-6070

Email: education@safeguardky.com

1600 Scottsville Rd, Suite 100

Bowling Green, KY 42104

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