What exactly is Mortgage Protection? Mortgage Protection pays off the mortgage in the event you pass prematurely relieving your family of an unnecessary financial hardship. Your family has already lost a spouse/parent. Do you really want them to be forced out of the family home because they can't afford to make the mortgage payment now that you are gone and they no longer have your salary to support them? Of course not but this is a realty for more people than you might imagine.
Let me begin by explaining that "traditional" mortgage protection sold by your local bank/mortgage company may not be the best answer. Traditional mortgage protection has a decreasing death benefit which means that as you pay down your mortgage the death benefit drops as well. These policies are designed to do one thing and one thing only - pay off the mortgage if you die. Isn't that what it's supposed to do? Technically, yes. But today's Mortgage Protection does so much more.
In March of 2015, The Huffington Post reported on the Top 10 Reasons People Go Bankrupt http://www.huffingtonpost.com/simple-thrifty-living/top-10-reasons-people-go-_b_6887642.html. I'm sure you're not surprised to learn that the #1 reason is Medical Expenses. You may be wondering what in the world that has to do with Mortgage Protection. Stay with me. What follows could make or break your family's financial stability. Ask yourself this question, "If I became sick and could not work, how would you make your mortgage payment, your car payment, pay your medical bills, utilities, buy groceries.....provide for your family?" Some of you may answer, "I have health insurance". Click the link above and you will discover that 72% of those who filed bankruptcy due to medical expenses were people who had some type of health insurance. Guys, paying the medical bills is just the beginning. If you are sick, you aren't working. Once your sick days and vacation are used up the paychecks stop. So even if you have the best medical insurance in the world with a zero deductible, you may be facing a serious financial dilemma.
What if there was another option; a better option; an option where the death benefit remained level so that if your mortgage was paid down or even paid off your family would still receive a death benefit to bury you, payoff any remaining debts, send a child to college or for any other need you might have? WHAT IF this option came with Living Benefits that advance your death benefit WHILE YOU ARE LIVING for a Chronic, Critical or Terminal Illness? If you cannot complete 2 of the 6 Activities of Daily Living [eating, bathing, dressing, toileting, transferring (walking) and continence] you can file a claim to advance your death benefit while you are living. If you have a heart attack, stroke, ALS, loss of limb, severe burn... there are a total of 16 critical illness triggers... you can receive an advance of your death benefit. If you are terminally ill and expected to pass within 24 months, you can receive an advance of your death benefit to pay medical bills, buy a lake house or travel the world before you die. IT'S YOUR MONEY to spend any way you choose. Oh, and did I mention it's TAX-FREE?
Now, I know what you are thinking. That sounds great but there is no way I could ever afford anything like that. THINK AGAIN! This type of protection is far more affordable than you might think. As an example, a 40 year old non-smoker male can get $250,000 of coverage for $50 a month. I don't know about you, but I think that is a NO-BRAINER. C'Mon. You spend $50 when you take your family of 4 to Chick-Fil-A!
What would you pay for financial security? $50/month? $100/month? Call JondaKnows at 304.840.0001 for a personalized Mortgage Protection Quote today!