Archive for August, 2009:
Why Your Family Needs Mortgage Protection Insurance
We have some good friends going through crisis. I dont want to mention names but I am writing this post because I believe it can help many of our readers. They family has 2 younger boys and the father has been diagnosed with bone cancer. The cancer is well developed and he will begin chemo-therapy very soon. In times like this one of the key factors that families have to deal with is the health of the person stricken with the cancer but also have to consider the outcome of what happens to the young children if the cancer wins. As much as we do not like to discuss this and hope for the best we have to put our financial ducks in order and begin a little what if scenario.
Dave, the gentleman with the cancer, was always very good with his finances and when we discussed the many possibilities he explained to me that he purchased Mortgage protection insurance. So what is mortgage protection insurance? In times like this mortgage protection insurance becomes the life line to the young children in case the worse should happen. Mortgage insurance protect the $400,000 house that Dave and his family are living in. If a death occurs the insurance kicks in and pays off the mortgage of the house that exists in full. This makes sure that the family does not have to deal with two loses as the same time. I don’t want to and I am not trying to compare ones life to a house but the last thing someone wants to do is try to get healthier and have financial worries on his mind. Here is a link to a great site that defines and discusses options of mortgage protection insurance as well as mortgage disability insurance. In detail the site describes what your options are and how to make the right decision for you and your family.
Dave, We wish you the best and we will stay by your side through these hard times. God Bless!