Mortgage Protection Keeps the Home Safe
At Ascend Financial Group, mortgage protection is one of the most important needs a family has. Roughly, as many as 45% of Americans have no life insurance to protect their families in the case of premature death. Most seem to think “it’s too expensive”, or have the attitude that “I’ll get by without it.” Others feel that insurance provided by an employer is enough to get by. Let’s take a closer look at those 3 excuses for not protecting one’s family.
It’s too expensive.
When a person considers their total debt load, the relative cost of life insurance to pay off that debt pales in comparison. When a family is in the midst of their building years of having children, buying a home, furnishing a home, going on vacations, running up credit card debt, repairing the home and cars, and other such things — spending a couple hundred dollars a month to insure those debts are not suddenly dumped on an unprepared spouse is a pretty small sacrifice. Mortgage protection is at the center.
I’ll get by without it.
That works until something unexpected happens. But my questions is “Are you that careless with other responsibilities in your life?” Your cars are insured, as is your house and other such assets. Your life is the most valuable asset your family will ever and is considered by many to be irreplaceable. The car and house can be replaced; but you cannot be replaced by your family. You are the asset that protects the family and the other assets through mortgage protection.
My company provides insurance.
Most companies only provide life insurance equal to your salary or possibly a bit more. However, when you have a $400,000 mortgage and $100,000 of other debts, does one year of your salary cover those debts? Then you need to consider funeral costs and providing for your family as they move on without you. How will the surviving spouse send the kids to college? Additionally, company insurance is being rented and is good only as long as you are employed. When you leave, you don’t take it with you; and if your health is struggling or you are over 50, personal insurance can quickly become more costly.
Ascend Financial Group provides complimentary insurance reviews, comprised of a full fact finding analysis and close reviewing your personal goals and priorities, including your needs for mortgage protection. Feel free to reach out to us to schedule it. We can meet in person, or through a Skype or Zoom call.