Mortgage Protection

Did you know? 63% of families with children are dependent on two incomes.

A Mortgage Protection is affordable insurance that provides financial security for your home and family should tragedy strike.

WHAT IS MORTGAGE PROTECTION INSURANCE?

As a homeowner, you want to protect your home with affordable, comprehensive coverage.

Mortgage protection insurance is a type of term life insurance that is designed to pay off your mortgage in the event of your death. It functions like a standard term life policy: You purchase a policy for a set period and make monthly payments. Those premiums are based on your attained age and your health, as well as the value of your home and the payoff amount. If you pass away while the policy is in force, your chosen beneficiary receives funds to pay off your mortgage.

01


Protection

Protect your most valuable asset.

02


Peace of Mind

Ensure your loved ones never have to deal with the fear of losing their home.

03


Financial Security

Provide financial security if the unthinkable happens.

04


Secured Future

Ensure that your family could stay in their home if you were no longer able to contribute to mortgage payments.

ADVANTAGES OF MORTGAGE PROTECTION INSURANCE

✔️ Provides a death benefit to pay off your mortgage in the event of your death

✔️ Pays your mortgage payments if you become disabled

✔️ Protects your mortgage payments in the event of critical illness

✔️ Provides benefits from a life insurance policy with generally affordable premiums

✔️ Achieves peace of mind for your home and family

Mortgage protection pays your home off or makes the monthly payment to protect your home and equity if you should unexpectedly die or become sick or injured.

No one ever expects things will happen to them but life does happen. Unfortunately, we don’t have a crystal ball. The risks are real and mortgage protection life insurance can protect your home and family should life happen.

Morgan’s husband, Aaron, passed away unexpectedly. She was left with a mortgage payment that she couldn’t afford on her own. Luckily, Aaron had a mortgage protection policy that helped pay off the mortgage so Morgan and their child could continue living life the way they were before his death. Policies are always available.

Learn more and see if you qualify today!

Why Do You Need Mortgage Protection Insurance?

As a homeowner, being able to pay your mortgage on time every month is important. What would happen to your loved ones if you were to die prematurely, become disabled or critically ill, and your income suddenly disappeared? None of us know what the future will bring, but you can achieve peace of mind today with mortgage protection insurance.

How Mortgage Protection Works

Mortgage protection insurance functions much like other life insurance policies: You pay premiums to the insurance company to purchase a specific amount of mortgage protection coverage. Those premiums are based on your attained age and your health, as well as the value of your home and the payoff amount. If you die while the policy is in force, the insurance company provides funds to pay off your mortgage.

Frequently Asked Questions

What is the difference between mortgage protection insurance and homeowners insurance?

Mortgage Protection Insurance:

✔️ Money goes to your family

✔️ Pays your mortgage if you become sick or injured

✔️ Money your family receives is tax free

✔️ Makes your premiums in case of job loss

✔️ Is portable – new home? It travels with you

Homeowners Insurance Covers:

✔️ Damage to your home in severe weather and water conditions

✔️ Theft of your belongings

✔️ Vandalism of your house and property

✔️ Fire damage to your home

✔️ Personal injury lawsuits if someone gets hurt on your property

Do I qualify for mortgage protection insurance?

In most cases, yes! Mortgage protection insurance has a very high acceptance rate as most plans are offered with simplified underwriting (you won’t have to take a medical exam to qualify).

When should I buy mortgage protection insurance?

If you have a mortgage on your home, or if you are in the process of obtaining a mortgage, you should consider buying mortgage protection insurance.

Can I afford mortgage protection insurance?

Mortgage protection is one of the most inexpensive types of insurance, and it’s often a more affordable option than purchasing a separate whole life policy to pay off your mortgage in the event of your death.

Life insurance is not just for a death benefit. There are many other benefits available that can protect your home when life happens.

LIFE INSURANCE FOR THE LIVING

Living Benefits for Mortgage Protection

Many of our top-rated carriers include living benefits at no additional cost. Living benefits allow you to use a portion or all of your policy death benefit If you experience a qualifying life event such as terminal, chronic, or critical illness, or critical injury.

There are no restrictions on what the benefit can be used for providing you and your family the flexibility to take care of what is important to you.

Examples of what the benefit can be used for:

> In home health care

> Moving expenses

> Mortgage or rent payment

> Home repair/modifications

> Day to day bills

> Day care

> Nursing home

> Travel

Living Benefits Qualifying Events

Each carrier has different parameters on what qualifies as a qualifying event. Here are some of the common critical illnesses & critical injuries.

Terminal Illness

If you are diagnosed with a terminal illness that will result in death within 24 months certified by a physician.

Chronic Illness

If you are not able to perform two of the six ADL (activities of daily living) for a period of 90 consecutive days or you are cognitively impaired.

Critical Injury

> Coma

> Paralysis

Activities of Daily Living

> Bathing

> Continence

> Dressing

> Eating

> Toileting

> Transferring

Critical Illness

> ALS (Lou Gehrig’s disease)

> Aorta Graft Surgery

> Aplastic Anemia

> Blindness

> Cancer

> Cystic Fibrosis

> End Stage Renal Failure

> End Stage Renal Failure

> Heart Valve Replacement

> Loss of limb

> Major Organ Transplant

> Motor Neuron Disease

> Stroke

> Sudden Cardiac Arrest

Disclaimer: The information listed on this website is for informational purposes only. Each carrier and state have different guidelines on what riders are available and the percentage that can be accelerated. It’s important to discuss your policy with the carrier or a licensed agent for information that is specific to you and your state.

Generation One Insurance

ADDRESS 1: 1833 Eastern Hills Drive, Garland, TX 75043

ADDRESS 2: 12005 Ford Rd. Suite 5020, Dallas, TX 75234

HOURS OF OPERATION:

8:00 am – 8:00 pm Monday – Sunday

Email address: beauarchffl@gmail.com

Phone number: 214-205-2105