Your Home Is Your Largest Investment, Protect It the Right Way
Affordable Mortgage Protection that Benefits You, Not the Bank.
When buying a home, many buyers look to protect their investment with some form of mortgage life insurance. Most banks and mortgage lenders offer this coverage during their loan underwriting. What we find often time, this type of mortgage loan protection, while usually very inexpensive, protects the bank and satisfies the mortgage, rather than paying the family and giving them control over their financial decision.
At Great Bay Insurance, we work with our clients to find affordable life insurance that protects their mortgage in case one of the borrowers dies before the mortgage is paid off. Rather than simply paying the bank automatically, we help our clients plan the way that they manage the proceeds of the life insurance policy. In some cases, the remaining borrower may be able to continue to pay the monthly mortgage payment and use the funds for college planning, paying off other debts or obligations.
Regardless of your situation, we think it is important for you to have control over the life insurance that protects your home and that you're able make decisions that benefit you, your situation and your finances in the event a spouse or co-borrower on a mortgage passes away. Our free life insurance consultation takes all of this into consideration in developing a life insurance plan that covers, not just your mortgage, but all of your financial goals.