Mortgage Protection
Protecting your most valuable asset
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No Health Exam Required
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Protect Against Serious Illnesses
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Cash Back Options
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Early Mortgage Payoff
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Stable Payment Rates
Hassle Free Qualification
Personalized and comprehensive coverage tailored to you from America's top insurance companies in the country.
Mortgage Protection Understanding
Mortgage protection insurance serves as a safety net by paying off your mortgage if you pass away. The policy’s death benefit helps beneficiaries cover the remaining mortgage balance.
Mortgage Protection Understanding
Financial Stability For Your Family
Sense of Security
Safeguard Your Home Investment
Cost Effective
Understand Policy Provisions
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Learning The Distinctions Between MPI, PMI & MIP
Mortgage Protection Insurance (MPI) is often confused with PMI, or Private Mortgage Insurance. Although the acronyms are similar, they serve different purposes. MPI safeguards both you and your beneficiary, whereas PMI protects the lender. PMI is required on conventional loans if the borrower puts down less than 20 percent, and also on FHA loans regardless of the down payment.​​
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Adding to the confusion, there's also MIP, which stands for Mortgage Insurance Premium and is associated with FHA loans. Similar to PMI, MIP protects the lender rather than the borrower. However, unlike PMI, MIP cannot be removed from an FHA loan, regardless of the down payment. Here's a summary:
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Mortgage Protection Insurance (MPI): This coverage provides a payout to your lender if you pass away or become disabled and are unable to work.
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Private Mortgage Insurance (PMI): This coverage is typically required if your down payment is less than 20 percent. It provides a payout to your lender if you become unable to make mortgage payments and default on the loan.
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Mortgage Insurance Premium (MIP): This is a type of mortgage insurance tailored for FHA loans. It provides a payout to your lender if you default on the FHA mortgage.
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Reach out to us today to find the best MPI plan for you!
Benefits of Mortgage
Life Insurance
1. Eliminates the uncertainty of paying off a mortgage.​
Receiving a lump sum from a traditional term policy can be daunting, especially if your beneficiaries have various financial responsibilities. With a Mortgage Protection Life Insurance Policy, the funds are specifically designated to pay off the remaining mortgage balance.
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2. Does not require underwriting.​
MPI policies let you avoid the medical underwriting process used to evaluate insurance risk. While avoiding underwriting might lead to higher premiums if you have few health issues, it can be beneficial if you have health conditions that would significantly increase the cost of a standard term life insurance policy.​