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Ensure your family's future by leaving a debt-free home with mortgage protection. Apply for mortgage protection
Compounded cash value growth is the increase in an investment's value over time. In life insurance, it refers to the tax-deferred accumulation of value within a policy.
A death benefit is the amount of money paid to beneficiaries upon the policyholder's death in a life insurance policy.
Liquidity refers to how easily and quickly an asset can be converted into cash without significantly affecting its value.
"Free from probate" means that certain assets can be transferred to beneficiaries without going through the legal process of probate, which can be lengthy and costly.
Life insurance offers tax advantages, such as tax-free death benefits to beneficiaries and tax-deferred growth of the policy's cash value
Life insurance flexibility refers to the ability to adjust various aspects of the policy, such as premium payments, coverage amounts.
Living benefits are features of a life insurance policy that allow the policyholder to access funds while still alive in cases like chronic or critical illnesses.
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Mortgage Protection Insurance is a type of life insurance designed to cover your mortgage payments in the event of your death, disability, or critical illness. It helps ensure your family can keep their home without financial stress.
In the event of a covered circumstance (like death or disability), the insurance policy pays out a lump sum or regular payments to cover your remaining mortgage balance, preventing your family from having to pay it out of pocket.
Typically, Mortgage Protection Insurance covers death, disability, and sometimes critical illness. Specific coverage details depend on the policy and insurer.
Coverage should ideally match your remaining mortgage balance. Consider factors such as outstanding loan amount, term left on your mortgage, and any additional financial needs your family may have.