Mortgage Protection
safeguarding your most important investment
No Health Exam Required
FIXED PAYMENT RATES
Cash Back Option / Pay house off early
COVERAGE FOR MAJOR ILLNESSES
Check out rates from leading insurance companies in the country.
I’M James Murray
Licensed Broker & Senior Field Underwriter
It's not about how much life insurance you need. It's about how much life insurance your family or loved ones need when you're not here.
I’M James Murray
Licensed Broker & Senior Field Underwriter
It's not about how much life insurance you need. It's about how much life insurance your family or loved ones need when you're not here.
Check out rates from leading insurance companies in the country.
Understanding Mortgage Protection
Mortgage protection insurance acts as a safety net, settling your mortgage in the event of your passing. The policy's death benefit aids beneficiaries in paying off the mortgage amount.
Understanding Mortgage Protection
Financial Security for Loved Ones
If the policyholder dies, the death benefit can be used to clear the mortgage, ensuring your family isn't burdened with debt.
Protect Your Home Investment
A home is often one's biggest investment. This insurance ensures that your loved ones keeps your home even in your absence.
Peace of Mind
Getting mortgage protection insurance can give peace of mind, knowing your family won't struggle with mortgage payments after you pass.
Budget-Friendly
Specifically designed for mortgage coverage, making it a cost-effective choice.
Policy Clauses
Familiarize yourself with the policy's terms, including any potential exclusions.
Get A Personalized Quote For Mortgage Protection
Benefits of Working with
James Murray
Unlike some insurance advisors who are limited in their offerings, James partners with multiple insurance companies to provide you with an array of options. Whether you're looking to cover funeral expenses, secure your home loan, or plan for retirement, consider James your comprehensive one-stop shop for all your insurance requirements.
Wide Product Range
Some insurance providers will only have access to a limited number of insurance carriers. James works with a broad range of insurance companies, offering you a variety of options. From funeral costs to home loan protection and retirement planning, consider it a one-stop shop for all your insurance needs.
Diverse Expertise
James is well-versed in all types of life insurance. With a wealth of options at your disposal, James will guide you to find the insurance policy that best fits your unique requirements.
Deep Knowledge
With extensive experience in the field, James knows the intricacies of life insurance policies inside and out. Trust in James to help you discover the ideal match for your insurance needs.
Hassle-Free Experience
Navigating the world of life insurance can be complex, but not with James on your side. Offering a hassle-free experience, James simplifies your search by comparing multiple policies and clearly explaining their terms.
Customized Service
James believes in offering personalized solutions tailored to your specific goals and needs. Through a deep understanding of your overall situation, budget, and future aspirations, James partners with you to select a policy that both protects and empowers.
Understand The Difference Between MPI, PMI and MIP
Mortgage protection insurance (MPI) can easily be confused with another abbreviation, PMI, or private mortgage insurance. While the letters and terms for these insurance products are almost identical, they are distinctly different. Mortgage Protection Insurance (MIP) protects you and your beneficiary. While PMI protects the lender that loaned you your mortgage, and is required on conventional loans when the borrower puts less than 20 percent down as well as FHA Loans, regardless of the down payment.
To make all of this even more confusing, there is yet another acronym, MIP, which stands for mortgage insurance premium and applies to FHA loans. Like PMI, MIP protects the lender, not the borrower. However, unlike PMI, MIP cannot be removed on an FHA loan regardless of the downpayment. Here is a recap:
Mortgage protection insurance (MPI):This type of coverage pays out to your lender if you die or become disabled and can’t work.
Private mortgage insurance (PMI): This type of coverage is usually required if your down payment is under 20 percent. It pays out to your lender if you were to become unable to pay your mortgage and default on the loan.
Mortgageinsurance premium (MIP): This is a version of mortgage insurance specific to FHA loans. It pays out to your lender if you default on the FHA mortgage.
Contact us today to see what is the best MPI plan for you!
Advantages of Mortgage Life Insurance
1) Takes the guesswork out of paying off a mortgage.
Receiving a lump sum of money from a traditional term policy can be overwhelming, especially if your beneficiaries have multiple financial obligations to cover in your absence. When you have a Mortgage Protection Life Insurance Policy, this can be used just to ensure the remaining mortgage is paid in full.
2) No underwriting required.
MPI policies allow the policyholder to skip the medical underwriting process, which insurers use to assess your insurance risk. Since the cost of life insurance is largely determined by your health, skipping underwriting could result in higher premiums if you have minimal health complications, but it can be worthwhile if you have health conditions that would raise the premiums of a standard term life insurance policy further.
Ready to plan for your
family’s future?
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