Do you live somewhere around Prescott, Arizona, and want information on mortgage protection life insurance? I’m Chad McMahan with protect with insurance, and I’m going to do my best to answer your questions.
So mortgage protection is essentially a term life insurance policy, occasionally, they’re going to be a larger whole life policy, the reason why their term and not whole life, 99 out of 100 times is because of price, a large whole life policy tends to be quite expensive whereas a larger term policy is going to be manageable in cost, now some companies require excellent health and you can get a larger coverage whole life policy that is a reasonable price.
I do have access to some of these companies; I have two pending policies right now that are, at least, $100,000 in coverage that is whole life and those are excellent policies, whereas the term policies will expire at some point, typically, you see 20 to 30-year policies for the mortgage protection policies, they’re going to be full coverage life insurance policies and any death, whether it’s a heart attack or car accident or anything else aside from suicide, but anything else, and they’re going to send that check to your beneficiary, and however, that money is used up to the beneficiary, but most of the time, the intended purpose is going to be honored, and it’s going to pay off the mortgage, so that is mortgage protection now.
If there’s anything else I can do for you, please click that button below, I’ll be happy to provide a consultation for you or answer your questions over the phone. Anything I can do for you, I want to do beyond that. I wish you the very best, good luck to you. Take care