Keep your home and family protected with mortgage insurance
Posted on 9th December 2019
Life is full of unexpected accidents and events. There is no possible way to prepare for what can happen, but with mortgage insurance you can ensure you and your family will be financially secure no matter what. Just like you can insure your car against an accident or your home in case of a burst pipe, home owners are also able to insure their mortgage; which will provide a lump sum in the event you can no longer keep paying it off.
Your home is the most expensive thing you will buy and chances are you will be repaying it for much of your adult life. However you never know what is around the corner and if you suddenly become unable to keep up with your repayments then you and your family could find yourself without a roof over your head.
No one wants to put their loved ones through that, which is why mortgage insurance is a popular option for many home owners. It is specifically designed to protect you should be unable to keep up on the repayments, with you able to make a claim to your insurer who will then pay off your home loan.
However in order to claim against your insurer, you have to prove you are unable to pay due to specified events; not because you spent too much on a holiday! These events are typically a major catastrophe such as death, serious illness which prevents you from working or permanent disability.
Mortgage insurance might not be for everyone, but if you are the main earner in your family and are primarily responsible for paying off the mortgage then it is certainly something you need. There are a wide choice of insurance providers out there so before signing up make sure you carry out your research and examine your options.
Here at Loan $upermart, we pride ourselves on offering consultation to homeowners just like you a chance to safeguard your home should the worst happen. Our highly experienced team will work with you to provide our advice on the exact coverage you need and suggesting the best plans for giving you comprehensive cover in case of death, total and permanent disability and terminal illness and even provide cash advances for immediate funeral expenses.
We also understand that circumstances change, which is why we offer plans from companies which provide tailored and affordable premiums to all of our customers. Not only do they give you a choice of policy periods ranging from six years up to forty, but also let you choose your preferred interest rate between 1% and 4% (depending on your mortgage loan interest rate). Want a little extra coverage? They can also add their secure waiver which will let you continue the policy without paying premiums if the life insured is diagnosed with a critical illness.
You wouldn’t drive your car without getting insurance, no matter how safe of a driver you think you are, so why would you not secure your house? Mortgage insurance is the wisest choice for home owners who want to protect the future of their loved ones.