Mortgage Protection Life Insurance

If you’re like most homeowners, your mortgage is probably your most significant monthly expense. If something unfortunate happens to you, it could potentially impose a substantial burden on your family.

Mortgage protection life insurance is designed to alleviate this concern by providing coverage to pay off your mortgage.

However, it’s essential to be meticulous when shopping for coverage because not all mortgage insurance policies are the same.

Try to avoid expensive mortgage policies sold by banks because they have decreasing death benefits. Plus, they often name themselves the beneficiaries, not your loved ones.

You want a guarantee that your loved ones will receive the payout they deserve, not a reduced amount that leaves them scrambling to make ends meet.

Our affordable life insurance provides the flexibility to tailor your coverage to perfectly meet your family’s needs and budget.

Level Death Benefit: You will have consistent premiums and level death benefits throughout the duration of your mortgage.
Coverage Amount: You decide how much protection you need so your loved ones can pay off the mortgage and cover other living expenses for your family.
Beneficiaries: You can name your spouse or children as beneficiaries, allowing them to use the death benefit to support their needs.
No Exam: Our underwriting process is simple, and many policies can be issued without a medical exam, expediting the process.
Convertible: Our life insurance policies are convertible to permanent coverage that builds cash value over time.

Mortgage Life Insurance Quotes

Affordable Life USA is a leading independent insurance agency offering mortgage life insurance solutions to clients nationwide.

Our expert team of agents is dedicated to finding the perfect mortgage protection policy for your needs and budget.

Begin your search by leveraging our mortgage insurance calculator to compare quotes from leading insurance companies in minutes.

Mortgage Life Insurance Companies

When shopping for a mortgage life insurance policy, comparing quotes from multiple companies is essential.

Affordable Life USA offers a diverse portfolio of affordable policies from trusted insurers dedicated to providing comprehensive coverage.

Rest assured, these insurance companies have received top ratings from the Better Business Bureau, AM Best, and J.D. Power, ensuring you receive exceptional service and coverage.

FAQs: Mortgage Life Insurance

Is mortgage protection sold by banks worth it? Bank mortgage protection is a costly option that usually doesn’t require a medical exam, making it ideal for those with health issues. However, the policy’s value decreases alongside your mortgage balance over time. Plus, the beneficiary of this insurance is the bank rather than a family member.

Are you required to get mortgage protection life insurance? It’s not mandatory for home purchase but provides peace of mind by covering the mortgage in case of your demise, ensuring your family won’t have to vacate the property.

What is the difference between term and mortgage life insurance? Both coverages provide a death benefit for your beneficiaries upon your passing. Term insurance offers stable premiums and a constant death benefit, allowing you to choose who receives the payout. Meanwhile, MPI’s coverage decreases as you pay down your mortgage, yet premiums remain the same throughout its term. The MPI payout goes directly to your lender to cover the remaining mortgage balance.

What happens to a home with a mortgage when the owner dies? Upon the homeowner’s death, the mortgage remains active and must be repaid. Typically, if there’s a will, responsibility for the mortgage transfers to whoever inherits the home. Your beneficiaries must either continue making the payments or sell the house. If not addressed, the lender may foreclose on the property.

About Affordable Life USA

Affordable Life USA is dedicated to providing comprehensive life insurance solutions to families and business owners throughout the United States.

For over thirty years, our agency has provided a platform for comparing hundreds of life insurance policies without the stress of high-pressure sales tactics.

Our experienced team of financial planners has helped thousands of clients obtain affordable coverage through our efficient online application process.

Our founder, Eric Van Haaften, expanded our consumer-centric sales model nationally by leveraging the influence of renowned publications such as Time, Newsweek, and The Wall Street Journal.

Eric acquired his love for quantitative analysis while getting his business degree from Ferris State University, which provided a solid foundation for his analytical approach to financial planning.

Eric has obtained a professional LUTCF designation, awarded by the National Association of Insurance and Financial Advisors and the American College of Financial Services.

Another professional accolade is qualifying for the prestigious Million Dollar Round Table. MDRT members are recognized for their exceptional knowledge, ethical conduct, and outstanding client service.

Eric is also an active member in his local community in Grand Rapids, Michigan, where he serves as the treasurer of the Senior Sing Along charity.

Affordable Life USA, LLC

Eric Van Haaften, LUTCF

1-877-249-1358

COMPANY	BBB	AM Best	JD Power
American General	A+	A	718
Guardian Life	A+	A++	760
John Hancock	A+	A+	739
Lincoln Financial	A+	A+	744
Mass Mutual	A+	A++	780
Mutual of Omaha	A+	A+	766
Nationwide	A+	A+	806
Pacific Life	A+	A+	N/A
Principal Financial	A+	A+	774
Protective Life	A+	A+	742
Prudential	A	A+	770