PROTECT LOVED ONES

As we all wish to do, protecting those nearest and dearest to us is usually most important. Think about this for a second you just took out a $300,000 loan (which now a days is the lower end for homes especially in the NY area) to be paid off during a 30 year term. All sounds great until however tragedy strikes the family and the breadwinner either mom or dad fall victim to a heartattack, car accident etc. Banks may have lowered the rates on loans but unfortunately they will not be as sentimental to your current situation. So now you ask how will the family pay for this...Good thing at the time of closing their loan they spoke with their Insurance Broker about Mortgage Protection Insurance. This is basically a Term Life insurance policy that is geared to both the amount of your loan and the term in which it was taken for, or the amount of time left on it depending on when you decide to get it. This way if a loved one were to die the beneficiary usually either the significant other or eldest child can either pay off the balance of the loan, or re-invest the amount they just received from the Mortgage Protection policy. Premiums even for people in their later years of life are very low and are of course always worth the protection of family and loved ones. If you have any questions about this further please feel free to contact me.