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Life insurance + Mortgage protection insurance

Life insurance and mortgage protection insurance 

Life insurance is commonly known but not always clearly understood. In simple terms, life insurance policies leave family members and loved ones with money when the policyholder dies. Dollar amounts and circumstances vary and are disclosed in the underwriting process and are specific to the plan and premium paid by the life insurance client. “Term” is used as an amount of time associated with the holder’s policy in terms of time.

Life insurance has a lot of nuances and complexities, some worthy of further investigation like mortgage protection insurance. Maybe this isn’t a term commonly used, but it is something that should be more commonly understood. Mortgage protection insurance is a term used for a term life insurance policy that covers your mortgage as the bottomline. Again, “term” meaning amount of time.

Nickerson Insurance Systems, Inc. and its life insurance options offer its policyholders peace of mind and some security for their kin. That’s why all agents are knowledgeable about term life insurance and its many layers.

Life insurance benefits

There are many benefits to leaving behind money to cover costs after a person dies. Coverage can pay for medical bills and expenses from before a person passes, funeral costs, lawyer fees, payment of taxes, and settling any debt post-mortem. Rather than pass these costs on to the family, it can be covered by the right life insurance policy. 

Mortgage protection insurance would also cover the entirety of what money is owed on a mortgage so the family doesn’t have to worry about making payments without the income of the person who has died. Furthermore, future expenses can be covered that were otherwise planned with the deceased’s continuing income had they not passed away – school tuition, health insurance, food and general living costs. It really is a worthwhile investment for all involved. 

Life insurance isn’t something meant to be enjoyed or cashed in while the policyholder is alive, but it certainly will make a great impact on their loved ones once they’re dead. It’s one less thing for people to worry about.

How to make or change your policy

Changing your policy is best done through a broker to ensure choosing the best and most cost-effective policy in the market. Instead of guessing, questions can be answered and boxes can be checked all within a meeting between client and broker. These meetings can be over the phone, online, or in person. Now that COVID-19 restrictions have been lifted, we would love to see our clients face-to-face rather than through a screen.

Instead in mortgage protection insurance? Nickerson Insurance Systems, Inc. is here to help

If you’re interested in life insurance or adding a mortgage protection insurance policy to your existing plan, we have got you covered. Our agents will walk you through the whole process and explain the details along the way. We pride ourselves on taking our time to work with you for the best term insurance policies for you. 

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