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I need more information about this topic. Also how do I get in contact with Avail? I need a quote.

jameshogg · Posted: Tue Jan 13, 2009 12:37 am Post subject:

Hi Becca,

Those borrowers who are unable to pay their mortgage dues due to accident, critical illness or lack of employment can go for the mortgage protection payment insurance (MPPI) policy in order to come out of debts. It is also known as ASU or Accident, Sickness & Unemployment Insurance and has a combination of insurances. In my opinion, you should shop around for a mortgage protection payment insurance. This will help you in knowing the market rates and selecting the best one. To know more, you can check out the following link:
http://www.mortgagefit.com/mortgage-insurance.html

Thanks

Guest

mortgage disability life , unemploymnet

jameshogg · Posted: Thu May 19, 2011 11:08 pm Post subject:

Hi Glen,

You will have to contact Mississippi based insurance companies and check out if anyone of them can assist you in this matter.

Thanks

gmakerley · Posted: Sat May 21, 2011 10:35 am Post subject:

Mortgage life and disability policies are not a good investment for borrowers.

What's covered under such a policy is the balance owed at the time of death; so if you had a $200,000 mortgage with $200,000 coverage at the initial date, and upon death the amount owed was $75,000, then that's the benefit - $75,000.

Beneficiaries of a person's estate are not anywhere near as well protected by this sort of scheme (and it is muy expensive, too!), and they'd be far better off if you went out and purchased a term life policy that gives survivors the option of paying off the mortgage if they wish, or using the funds for other things while they continue paying the mortgage.

An example: you buy term life of $300,000, and you have a mortgage of $200,000. The price of the policy is cheaper than with the above-noted mortgage life insurance, and you give your beneficiary the option of using the death benefit to pay the mortgage in full and use the remainder for other things; or using the death benefit for a myriad of things while continuing to pay the mortgage every month until paid in full.

Remember always...a life insurance policy is not for the insured party - it's for the beneficiary or beneficiaries to decide what to do with the funds.

The same goes for disability in terms of value - contact a reputable insurance agent for a disability policy and stay away from anyone who offers it as an adjunct to the existing mortgage. You'll be pleased.

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Types of Mortgage protection insurance