Your Home Matters
Protect your families investment
Mortgage protection helps make sure that the people you love can remain in the home they love, even if you pass away before the mortgage is paid off.
Since you never know when the unthinkable will happen, mortgage protection with us at Bennett Financial uses a combination of life insurance products to make sure your loved ones will always have enough cash on hand to keep up with the payments or retire the mortgage.
How does Mortgage Protection help?
Mortgage protection helps make sure that the people you love can remain in the home they love, even if you pass away before the mortgage is paid off.
Since you never know when the unthinkable will happen, mortgage protection with us at Bennett Financial uses a combination of life insurance products to make sure your loved ones will always have enough cash on hand to keep up with the payments or retire the mortgage.
If you recently purchased a home or refinanced your mortgage, you may have received letters in the mail about mortgage life insurance. Different from a homeowner’s insurance policy that would protect the items inside your home, mortgage life insurance (also known as mortgage protection insurance) would protect the people living there.
Wondering if mortgage life insurance is worth it? The short answer is yes, mortgage life insurance is worth it if you have anyone who depends on you financially. Mortgage life insurance is a term life insurance policy that’s customized for homeowners. It’s an affordable way to protect your family from losing their home while providing the financial protection of a life insurance policy.
With agents nationwide, we can insure your home and family will be protected no matter what state you call home
How Mortgage Protection Works
Bennett Financial
How mortgage life insurance works is a term life insurance policy that generally lasts the same term as your mortgage. This insurance would cover the remainder of your mortgage payments if you pass away while the policy is in force. This can provide financial relief to your spouse, partner, children, or other loved ones who may depend on you financially. They could stay in the home without having to worry about paying the mortgage.
Mortgage Protection
Mortgage life insurance is one of the most affordable types of life insurance available with rates as low as $20/month. Most people don’t need to take a medical exam to qualify for coverage, making the process of getting life insurance simple and easy. Even better, your Bennett Financial agent can shop from more than 30 of the top-rated insurance carriers to get you the best price on the market today.
Mortgage Protection
One disadvantage of mortgage life insurance is that it only offers protection for a set number of years (similar to the length of your mortgage). This means that if you need life insurance coverage later in life, you might need to take out another policy. While this type of policy used to be tied to your mortgage amount and paid to the lender, many new policies now offer flexible benefits where you can get even more out of your coverage.
Add-on Benefits to a Mortgage Protection Policy
Critical Illness Rider
If you were to be diagnosed with a critical illness or experience a disability that prevented you from making your mortgage payments, these riders would help you by providing payouts.
Return of Premium
You also have the option to add a return of premium rider, which would refund your premiums if you do not end up using your mortgage life insurance policy by the end of the term.
Children's Agreement Rider
This rider will allow not only you but your children additional coverage. Coverage lasts until age 25 and can be converted to a whole life policy when age is met.
Importance of Coverage
Mortgage life insurance not only offers financial protection and peace of mind, but it also protects your loved ones from unnecessary financial burdens. No one knows what the future holds, and there’s no reason to delay getting this important coverage.
If you would like to learn more and get a plan in place, get a quote today today to protect your home and loved ones. Your Bennett Financial agent is available for online policy consultations to help you get a plan in place in just a few simple steps.
Protect your home today
Contact Us
Contact us
Address
Chattanooga
Tennessee, 37405
Phone
(423)598-6657
help@BennettFinancial.org