Mortgage Protection Insurance Tampa FL – Mortgage Protection Basics – (813) 805-8850
For most part, homeowners’ mortgage is the single largest source of personal debt. mortgage protection insurance is a specialized life insurance policy designed to pay off that debt in the event of your death. Mortgage protection insurance eases the financial burden of your loved ones.
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Mortgage protection insurance is not the same thing as private mortgage insurance, which goes to the lender if you default on your mortgage, and doesn’t have a specific benefit for you the borrower. mortgage protection insurance, however, protects you as a borrower. Although many lenders offer the insurance, it’s not built to protect them.
Mortgage protection insurance is a life insurance policy that pays off your mortgage if you or your partner die during the term of the mortgage. It runs for the same length of time as your mortgage. So, if you take out a mortgage over 20 years, your mortgage protection insurance must also be in place for 20 years.
Mortgage Protection Plus, Inc. is a Florida Domestic Profit Corporation filed on October 10, 1997. The company’s filing status is listed as Active and its File Number is P97000088391. The Registered Agent on file for this company is Siegel Eddie and is located at 8870 N. Himes, Tampa, FL 33614.
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What is mortgage protection insurance?. mortgage payments on average are the single largest source of personal debt. Mortgage protection insurance will pay off your debt in the event of your death. If you pass away, a death benefit can be paid to the surviving family to pay off the balance of the mortgage.
Not sure about mortgage protection insurance? Learn the pros and cons of of this type of coverage to help you determine if it's right for you.