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Mortgage protection insurance: What it is and when you might need it?

Mortgage protection insurance (MPI) is a policy that pays off your mortgage if you die or become disabled and unable to work. Unlike life or disability insurance, the payment goes directly to your mortgage lender, not to you or your heirs.

Typically, MPI covers only the mortgage principal and interest, not other expenses like HOA dues, property taxes, or homeowners insurance. You might be able to add a rider to cover these additional costs.

As you reduce your mortgage balance, the insurance payout decreases, though premiums remain the same. Despite this, MPI can be easier to obtain than life insurance since it often doesn’t require a medical evaluation.

**We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area.

Explore Essential Insurance Options:

Mortgage Protection

Pays off your mortgage in the event of death, disability, or critical illness. It ensures your family can stay in your home without financial strain, providing a targeted benefit that decreases with your mortgage balance, offering peace of mind and security

Fixed Index Annuities

They provide guaranteed minimum returns linked to a stock market index, combining growth potential with stability. This ensures steady income and peace of mind for retirees.

These annuities can offer growth, but it's important to know what you're buying.

Term Life Insurance

Term Life Insurance provides affordable coverage for a set period, paying a death benefit if the policyholder passes away during the term. It's a cost-effective way to protect loved ones and secure financial stability.

Final Expense

Covers funeral and burial costs, offering a simple and affordable way to ease financial burdens on loved ones. It ensures that end-of-life expenses are covered, providing peace of mind and financial protection.

Disability Insurance

Insurance that provides income protection if you're unable to work due to illness or injury. It replaces a portion of your income, helping you maintain financial stability and cover essential expenses during recovery.

Critical Illness Insurance

Offers financial support if you're diagnosed with a severe illness, such as cancer or heart disease. It provides a lump-sum payment to cover medical expenses and living costs, easing the financial burden during a challenging time.

Retirement Protection

Ensures a stable income during retirement by safeguarding your savings from market volatility and unexpected expenses. It helps maintain financial security and provides peace of mind, allowing you to enjoy your retirement without financial worries.

SmartStart Insurance

Provides early financial protection for children, offering benefits like savings for future education and coverage for unexpected health issues. It’s designed to give families peace of mind and secure a financial foundation for their child's future.

Live Debt Free

Promotes strategies focus on eliminating debt and building financial security. By managing and reducing debt, you can achieve financial freedom, enhance your savings, and create a more stable and stress-free financial future.