If you know you have found the house you plan to stay in until you grow old—you should definitely consider getting Mortgage Protection Insurance! Another scenario to consider is if you have a large amount of equity in a property and are still paying your mortgage, you’ll want to make sure it is secure using Mortgage Protection Insurance if anything were to happen to you!
If you have a high risk profession, such as military, police, firefighting—it is also worth considering getting a Mortgage Protection Insurance Policy to protect your house if you get injured, fall ill, or die. If you have a family this is especially paramount and
is always worth consideration! Since you are protecting others and their assets, shouldn’t you also protect your own assets?
It will be an extra cost on top of your mortgage each month—but if you want to ensure you keep your property for your family when you pass away or become injured then it is a great idea to get a Mortgage Protection Insurance policy for your home!
There are a lot of comparisons of these two types of insurance for obvious reasons—they both deal with mortgages! Although they both do have mortgage in the name and have similar ideas to them, they are different completely different types of policies that fit different scenarios!
foreclosure if you become disabled or die since the policy will pay out to your bank and your family will get to keep their home! This insurance is very useful and can have riders added to protect you for a certain period of time if you lost your job or become temporarily disabled—just always remember to keep up with the payments for it to work!
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