 Posted: Sat Feb 27, 2010 10:40 pm Post subject: Mortgage Protection !! |
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Most homeowners think they own the home!! However unless you own the home without a mortgage, there are two owners for every property. The bank is the other invisible home owner.
They are visible, only when we default or when we are unable to make a mortgage payment.
There are two insurance products that could help homeowners to remain homeowners in the hour of need.
Mortgage Protection Insurance Ensures that the house remains with the family in the event one of them is no longer there due to death. This program could be designed to get all the premiums paid back at the end of 15,20 or 30 years.
Disability Insurance This will ensure that in the event one spouse or both spouses are unable to perform their normal duties due to illness or accident, the insurance company would pay the mortgage amount. The amount of the payment would depend on the current income as well as the ability to pay premiums for the amount of disability desired. Here again the program can be designed to get partial premiums back if there are no disability claims.
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subchacko
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Joined: 27 Feb 2010
Posts: 1
Location: Santa Clara
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