As a homeowner, being able to pay your mortgage on time every month is important. What would happen to your loved ones if you were to die prematurely, become disabled or critically ill, and your income suddenly disappeared? Would they be able to pay off the mortgage without difficulty and stay in their home?
Covers mortgage payments up to $500 in the event of things such as:
Covers mortgage payments up to $1,000 in the event of things such as:
Covers mortgage payments up to $2,500 in the event of things such as:
Covers mortgage payments up to $5,000 in the event of things such as:
Covers mortgage payments up to $10,000 in the event of things such as:
Covers rental payments up to $15,000 in the event of things such as:
While there are many different types of insurance policies, warranties, and protection coverage and it can sometimes be difficult to understand what they are and what they do, mortgage protection is just what it sounds like: A coverage plan designed to pay off your mortgage in the event of your death. Mortgage protection plans also offer coverage to pay off your mortgage in the event you were to become critically ill or disabled. Our plans even cover you if you temporarily lose income.
For most of us, our homes are our biggest investment as well as our largest expense every month. This is followed by our auto, RV's,etc.. (By the way our sister company RMG GROUP Insurance covers those.)
If your loved ones depend on your income to make your monthly mortgage payment, a sudden loss of that income could have catastrophic results. Dealing with the death or disability of a loved one is already emotionally challenging; adding financial stress can create an unbearable situation. If you or your family couldn't continue making payments or pay off the mortgage or keep up the payments from other sources after your loss of income, the home would probably be taken back by the lender.
Mortgage protection provides peace of mind, knowing that you or your family wouldn’t lose the home even if the unplanned were to occur.
While the specific benefits and features of mortgage protection will depend largely on the plan and company offering it, this type of protection functions much like life insurance policies.
For us, you pay a monthly fee to us to purchase a specific amount of mortgage protection coverage. If something was to happen during your coverage period, we would offer upon claim approval assistance to either cover payments on the loan or pay it off completely.
Some policies and plans (like ours) also offer additional coverage designed to provide a benefit in the event you are critically ill or become disabled.
Here at RMG GROUP Protection, we understand the financial strain that an outstanding mortgage can leave when the unplanned events happen in life and we want to help you or your family avoid losing their home. Mortgage protection is just one of many types of protection plans we can help you with.
RMG GROUP Insurance product
Copyright © 2021 RMG GROUP Protection, LLC All Rights Reserved.
an RMG Management Group Inc. Company
Get our single device protection plan free for twelve months when you use code BETTER2021 during the sign-up process.