Mortgage Protection Insurance

Keep Your Home Secure— No Matter What

Mortgage protection insurance not only helps pay off your mortgage if you pass away, but also provides financial support while you're still alive if you face serious illness, injury, or disability. This benefit allows you to access a portion of the policy’s payout to cover your mortgage or other expenses during tough times.

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Is Mortgage Protection Right for Me?

Mortgage protection insurance (MPI) provides a safety net by helping to cover your mortgage payments in the event of death, disability, or serious illness. You can access funds while you're still alive, offering added financial security during difficult times. It's a simple way to protect your biggest asset—and your loved ones' peace of mind.

If you've recently purchased a home and have dependents, MPI ensures your family can stay in the home if something happens to you

If your household relies on one primary income, losing that income unexpectedly could put your home at risk

If you have a pre-existing health condition or work in a high-risk job (like construction, law enforcement, or trucking)

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What Are Living Benefits?

Instead of only paying out upon death, access a portion of your policy’s payout while you’re still alive if you experience a qualifying event—such as a critical illness, chronic illness, or permanent disability This added protection helps you stay in your home and maintain financial stability during difficult times.

Builds Cash Value

With every premium payment, build savings within the policy over time. A portion of your premium goes toward this cash value, which grows tax-deferred and can be accessed through loans or withdrawals while you're still alive.

Why Use Life Insurance to Cover Your Mortgage?

Protect your family from the risk of foreclosure and ensure financial stability during uncertain times.

Customizable Protection Options

Select coverage ranging from $100,000 to $1,000,000, with premiums determined by factors such as your age, health, and the coverage amount you choose.

Quicker Approval and Coverage

Instead of a full medical exam simplified issue insurance offers convenient and accessible protection without the hassle of extensive medical testing.

Guaranteed Fixed Premium

Your policy’s cost stays constant, no matter changes in age or health, allowing you to budget confidently with a predictable monthly premium.

Lifetime Coverage

Get coverage for your entire lifetime with a guaranteed death benefit and also build cash value over time—a savings component that grows tax-deferred.

FAQs

Five Questions To Ask When Considering Mortgage Protection Insurance

How do I get started with the Infinite Banking Concept?

To implement IBC, consider the following steps: Educate Yourself: Gain a thorough understanding of IBC principles by reading reputable sources, attending seminars, or consulting with an Inner Circle Financial professional experienced in this strategy. Assess Your Financial Situation: Evaluate your current financial health, including income, expenses, debts, and savings, to determine how IBC might fit into your overall plan. Consult with Experts: Engage with financial advisors who specialize in IBC to receive personalized guidance tailored to your goals and circumstances. Source: Living Wealth
Are there any potential drawbacks or considerations with the Infinite Banking Concept?

While IBC can be a powerful financial tool, it's essential to be aware of potential downsides: Complexity: Understanding the intricacies of whole life insurance policies and the IBC strategy requires careful study and possibly professional guidance. Costs: Whole life insurance premiums can be higher compared to term life policies, and the initial years may have lower cash value accumulation due to policy fees and costs. Long-Term Commitment: IBC is most effective when viewed as a long-term strategy, with benefits becoming more pronounced over many years. Source: The Money Advantage
What are the benefits of implementing the Infinite Banking Concept?

IBC offers several advantages, including: Tax Efficiency: Loans taken against the policy's cash value are generally not considered taxable income, providing a tax-advantaged method of accessing funds. Financial Control: By becoming your own banker, you gain greater control over your financing, reducing reliance on traditional financial institutions. Wealth Preservation: The death benefit ensures that your beneficiaries receive a tax-free inheritance, aiding in legacy planning. Asset Protection: In many jurisdictions, the cash value within life insurance policies is protected from creditors, offering an additional layer of financial security. Source: Living Wealth
How does the Infinite Banking Concept work?

The process begins by purchasing a whole life insurance policy from a mutual insurance company. As premiums are paid, a portion contributes to the policy's cash value, which grows over time. Once sufficient cash value accumulates, policyholders can take loans against it, using the funds for personal financing needs. Repayments are flexible, and the cycle allows for continuous growth and access to funds. Source: Living Wealth
What is the Infinite Banking Concept?

IBC involves using whole life insurance policies with high cash value to function as a personal line of credit. By overfunding these policies, individuals can borrow against the accumulated cash value for various financial needs, such as purchasing assets or funding education, while potentially earning dividends and interest Source: Nerdwallet - Finance Smarter