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Do you need Mortgage Protection Insurance?
The answer is probably not.
In most cases you are better off having sufficient insurance from more traditional insurance plans. However there are those, especially those with pre-existing conditions, that will benefit from Mortgage Protection Insurance.
The only way to know for sure is to have a short conversation with an Insurance Professional who can lay out the benefits and costs of your various options.
Mortgage Protection Insurance is also known as MPI or MPPI. This insurance policy will pay off your mortgage if you die, or make your mortgage payments for you if you are disabled. In either case this insurance protects your family and beneficiaries from the debt of the mortgage when you are not able to pay.
Depending on your circumstances this can be very valuable insurance but most often an Insurance Professional can tailor other less expensive insurance products to achieve the same goals and provide additional and less expensive coverage.
Again the only way to know for sure is to have a short conversation with an Insurance Professional who can lay out the benefits and costs of your various options. So reach out today.