Mortgage Protection Insurance Policies
Mortgage Protection Insurance policy helps the family make monthly mortgage payments if the policyholder and mortgage borrower dies before the mortgage is fully paid off. Some MPI policies will also offer coverage for a limited time if the policyholder loses a job or becomes disabled after an accident. Some companies call it mortgage life insurance because most policies only pay out when the policyholder dies.
Benefits of Mortgage Protection Insurance
Buying your dream home is always the biggest pleasure in life. However, with all the rising prices, one cannot simply afford to buy a house without a mortgage. A typical mortgage would last 20-25 years and that might stretch even further given certain redundancies.
However, what matters most is what happens to the house if you suddenly meet with an unfortunate incident. Would your loved ones be able to enjoy the house or would they be financially indebted? With Phinehas LLC, you no longer need to worry about such scenarios. Our mortgage protection covers your mortgage payments in an event you meet with an unfortunate incident. This means that even if you leave your loved ones, you care and support would still benefit them for years to come.