Contact Us: (718) 848-7777
UG Insurance Brokerage Inc
  • Quotes
    • Auto Quotes >
      • ATV Insurance Quote
      • Auto Insurance Quote
      • Classic Car Insurance Quote
      • Roadside Assistance Quote
      • Motorcycle Quote
      • RV Insurance Quote
    • Property Quotes >
      • Home Insurance Quote
      • Earthquake Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Commercial Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Commercial Auto Insurance Quote
      • General Liability Insurance Quote
      • Group Benefits Insurance Quote
      • Insurance Bond Quote
      • Workers Compensation Quote
    • Health Quotes >
      • Health Insurance Quote
      • Critical Illness Insurance Quote
      • Dental Insurance Quote
      • Medicare Advantage Plan Quote
      • Medicare Supplement Coverage Quote
      • Vision Insurance Quote
    • Other Quotes >
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
      • Travel Insurance Quote
      • Wedding Insurance Quote
  • Service
    • Report a Claim
    • Update Contact Info
    • Policy Changes
    • Online Documents
    • Free Consultation
  • Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Motorcycle Insurance
      • Roadside Assistance
      • RV Insurance
    • Property >
      • Home Insurance
      • Earthquake Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Commercial >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Commercial Auto Insurance
      • General Liability Insurance
      • Group Benefits
      • Insurance Bonds
      • Workers Compensation
    • Health >
      • Health Insurance
      • Critical Illness Insurance
      • Dental Insurance
      • Medicare Advantage Plans
      • Medicare Supplement Coverage
      • Vision Insurance
    • Other >
      • Event Insurance
      • Travel Insurance
      • Umbrella Insurance
      • Wedding Insurance
  • About
    • Client Testimonials
    • Refer a Friend
    • Insurance Carriers
    • Agency Photo Gallery
    • Newsletter Signup
    • Blog
    • News
    • FAQs
  • Business Directory
  • Contact
  • Quotes
    • Auto Quotes >
      • ATV Insurance Quote
      • Auto Insurance Quote
      • Classic Car Insurance Quote
      • Roadside Assistance Quote
      • Motorcycle Quote
      • RV Insurance Quote
    • Property Quotes >
      • Home Insurance Quote
      • Earthquake Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Commercial Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Commercial Auto Insurance Quote
      • General Liability Insurance Quote
      • Group Benefits Insurance Quote
      • Insurance Bond Quote
      • Workers Compensation Quote
    • Health Quotes >
      • Health Insurance Quote
      • Critical Illness Insurance Quote
      • Dental Insurance Quote
      • Medicare Advantage Plan Quote
      • Medicare Supplement Coverage Quote
      • Vision Insurance Quote
    • Other Quotes >
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
      • Travel Insurance Quote
      • Wedding Insurance Quote
  • Service
    • Report a Claim
    • Update Contact Info
    • Policy Changes
    • Online Documents
    • Free Consultation
  • Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Motorcycle Insurance
      • Roadside Assistance
      • RV Insurance
    • Property >
      • Home Insurance
      • Earthquake Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Commercial >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Commercial Auto Insurance
      • General Liability Insurance
      • Group Benefits
      • Insurance Bonds
      • Workers Compensation
    • Health >
      • Health Insurance
      • Critical Illness Insurance
      • Dental Insurance
      • Medicare Advantage Plans
      • Medicare Supplement Coverage
      • Vision Insurance
    • Other >
      • Event Insurance
      • Travel Insurance
      • Umbrella Insurance
      • Wedding Insurance
  • About
    • Client Testimonials
    • Refer a Friend
    • Insurance Carriers
    • Agency Photo Gallery
    • Newsletter Signup
    • Blog
    • News
    • FAQs
  • Business Directory
  • Contact

UG Insurance Brokerage Inc Blog

Mortgage Protection Insurance: Is It Worth It?

2/22/2021

0 Comments

 
Picture
Just like other types of insurance, mortgage protection insurance also protects your finances. If you haven’t heard of it, now’s the perfect time to get yourself acquainted. 
​
Here are some of the things you need to know about mortgage protection insurance.
What Mortgage Protection Insurance Is
Like other insurance plans, mortgage protection insurance (MPI) helps protect you and your family from heavy financial burdens. It is insurance that will cover the mortgage expenses if the primary breadwinner is no longer around or can’t provide income.

Generally, MPI works similarly to term life insurance. You purchase a policy and pay the premiums; then, the policy ends with the term. However, some differences make MPI stand out.
  • Death Benefit
    Typically, the mortgage provider is the primary beneficiary in MPI. This means that your family or loved ones will not receive the MPI death benefit. Also, the MPI death benefit typically lowers in value after the first five years.
  • Term Length
    While term insurance plans have flexible term lengths, MPI term lengths don’t. MPI term lengths are usually fixed. Typically, they are set at 15 or 30 years and might be restricted by your age.

    For example, some insurers only offer a 15-year MPI plan to people who are above 45 years old.

Is MPI worth it?
Generally, all insurance types are worth getting. However, there are other factors you have to consider, including your need for it.

Here are some things that could help you determine if MPI is worth purchasing.
  • If you have health issues that don’t allow you to purchase life insurance at an affordable rate, MPI may help. This is especially helpful if you’re worried about your loved ones not being able to cover mortgage payments. However, keep in mind that you still have to look around to find the best deal for you.
  • MPI focuses on one of the biggest debts a person can incur and allot coverage for it. In addition, you wouldn’t have to worry about not having enough coverage because it’s equivalent to your mortgage balance.

Conclusion
Mortgage protection insurance doesn’t only protect your loved ones but your property as well. Although you may think you don’t need it, purchasing a mortgage protection insurance policy will be beneficial in the long run.

At UG Insurance Brokerage Inc., we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (718) 848-7777 or Click Here to request a free quote.
0 Comments



Leave a Reply.

    Contact Us

    (718) 848-7777
    11429 Lefferts Blvd
    South Ozone Park, NY 11420​​
    Click Here to Email Us

    Archives

    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020

    Categories

    All
    Auto Insurance
    Business Insurance
    FAQs
    Financial
    General Liability Insurance
    Health Insurance
    Home Insurance
    Insurance
    Life Insurance
    Local
    Mortgage Protection Insurance
    Safety
    Workers Compensation

    RSS Feed

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us
Agent Login

Connect With Us

Share This Page

Contact Us

UG Insurance Brokerage Inc
11429 Lefferts Blvd
South Ozone Park, NY 11420​
(718) 848-7777
Click Here to Email Us
Review Us

Location

Website by InsuranceSplash