Mortgage Disability Insurance

Guest 0.10 Dollars($)

Seeing a co-worker's finances disintegrate after being diagnosed with cancer prompted me to get mortgage disability insurance from State Farm (my auto insruance) - she could no longer afford her rent & had to find a cheaper place to live.

For only $20 per month if I become disabled (short term or long term) my monthly mortgage payment would be made by them for up to 3 years.

Are these plans really worth it? Just curious if anyone has any opinions or experience.

Guest 0.10 Dollars($)

Hi munchkin,

Mortgage disability insurance is really good and helpful. If have a mortgage and become disable in the mean time, and cannot make the mortgage payments, this mortgage disability insurance will help you to make the mortgage payments.

jenkin7 · Joined: 04 Jun 2007 Posts: 939 140.80 Dollars($)

Hello Munchkin,

It is good that you have opted for a mortgage disability insurance. This will help you to keep making regular payments to the lender even if you lose your income due to some disability. The premiums for such insurances primarily depend on your age, gender, occupation and health status.

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