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Mortgage protection insurance Vs Mortgage disability insurance
By Admin | June 10, 2009
The best way to ensure protection to your family in a time of crisis or from illness that would cause death is through mortgage protection insurance. There is a slight difference between mortgage insurance and disability insurance but the notion behind these types of insurances is that one can pay a premium which doesn’t change for the whole duration of period taken.
In a case where a family member dies during that period, compensation is given to your family and remaining balance is paid off. This provides that a loss of life doesn’t force your family out of the house, disability insurance also protects ones house from being taken incase one is unable to work due to injury.
The difference comes in disability insurance where the payment depends on the factors that caused the disability and premium varies from one provider to another.
Topics: General Insurance, Mortgage | No Comments »