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

Things To Consider When Buying Mortgage Protection

12/7/2021

0 Comments

 
Picture
​Mortgage protection insurance pays for your loan if you suddenly pass away. It is a type of life insurance. Mortgage insurance can spare your family from the hardship of paying the mortgage with one income after your passing.
How The Insurance Policy Works
Mortgage protection insurance is similar to term life insurance. Your mortgage is covered as you pay a certain amount for the duration of the insurance policy. But after the term ends, the coverage also ends. Most insurance companies will issue policies that are the same duration as the term of the mortgage you are protecting.

Who pays for your mortgage?
If you passed away within the coverage period, the insurance company would pay for the loan that you will leave behind. Your loved ones will not receive money from the policy, but the policy will pay for your loan. So, if you have a housing loan, they will not have to worry about housing payments.

Advantages And Disadvantages Of Mortgage Protection Insurance
These are the benefits of mortgage protection insurance. Keep these in mind if you want to obtain the policy.
  1. You will have peace of mind knowing that your mortgage payments will be taken care of and won’t trouble your family.
  2. It is more affordable than life insurance. Age and health are factors in not getting cheap insurance. Mortgage protection insurance may be a better alternative.
  3. Life insurance companies require applicants to have medical exams. If the results of your exams are bad, they might deny you. Mortgage protection policies do not require this.

These are the disadvantages of mortgage protection insurance. Keep this in mind because you will be spending money paying for the premium.
  1. Mortgage protection insurance pays for your covered loan after you pass away. But your loved ones won’t receive any other substantial benefits.
  2. The amount of your payment remains constant over the policy term. But the value of death benefits decreases in the long run to match the outstanding balance of your loan.
  3. This policy covers your mortgage, but it won’t cover death and burial expenses.

At UG Insurance Brokerage Inc, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays, and we're here to help you out. Learn more about our products and services by calling our agency at (718) 848-7777. You can also request a free quote by CLICKING HERE.
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