Mortgage Protection Life Insurance in Florida
Mortgage Life Insurance policies is designed to provide funds for the repayment of a residential mortgage in the event of premature death of the person or persons taking out the mortgage. Coverage is available for 15- or 30-year periods.
Mortgage Protection insurance is very inexpensive. Who knows what the years will bring. Be prepared. Call an agent at Absolute Insurance today.
Mortgage protection insurance, or MPI, is also called mortgage payment protection insurance, or MPPI. It's simply life insurance that pays your mortgage if a certain event, such as death, disability or job loss occurs. The cost for this insurance depends on factors such as the amount of your mortgage and your age and health. For disability MPI, costs also vary depending on your occupation.
If you purchase mortgage protection insurance that pays off your mortgage when you die, the insurance company will send a check directly to your mortgage company, leaving your heirs with a home unencumbered by a mortgage. Payments will also go directly to your mortgage company if your policy pays upon disability or job loss, but only for a certain period, typically a year or two.
Our job at Absolute Insurance is to find out your wants and needs and apply it to your lifestyle. We are experienced with all insurance types and will give you the best price for the best insurance. Guaranteed!
Did you know……Many people confuse MPI with private mortgage insurance, or PMI? You’re required by law to get PMI if you put less than 20 percent down to purchase your home. PMI is only for the Bank. MPI is for you and your family.