Wednesday, March 25, 2015

Final Expense Insurance

With the average funeral cost around $10,000, making final arrangements for a loved one is one of the largest expenses a family will face today. Final expense insurance provides seniors with the peace of mind that when they pass, their loved ones will not be burdened with high funeral expenses or burial expenses.

Final expense insurance for seniors can be a life saver to families whose savings may already be depleted due to nursing home care, long term care, hospital stays or hospice care. Through final expense insurance, seniors can offer financial protection to their families for just pennies on the dollar.

Agents (like myself) working with prestigious companies like Lincoln Heritage help families prepare for the difficult times ahead by assisting them in the selection of final expense insurance for their loved ones. Through proactive final expenses planning with a Symmetry Financial Group, families can rest assured that the high cost of funeral expenses and burial expenses associated with a loved one’s passing will not become a burden down the road.

With aging baby boomers expected to double America’s senior population to 71-million by the year 2030, the current demand for insurance for seniors is steadily increasing, and the need for final expense insurance is on the rise!

Prepare for the future before it's too late and protect your family, contact me today.

Monday, March 23, 2015

Mortgage Protection Insurance

Mortgage Protection Insurance

mortgage protection insurance
Explaining it the simplest way, mortgage protection insurance is no more than an insurance policy that will pay the amount the beneficiary selects, up to the remaining balance owed on the home, in the event of your death. This benefit covers the outstanding principle balance owed on the primary mortgage, making payment directly to the lien holder (beneficiary).

For those families in a two-income household or where there is one primary breadwinner, mortgage protection insurance provides the peace-of-mind that in the event of your death, your family will not be held liable for paying a mortgage they may no longer be able to afford.

Mortgage Protection Insurance (MPI) vs. Mortgage Insurance Premiums (MIP)

While mortgage protection insurance offers an economical benefit for hundreds-of-thousands of families across the U.S., it can prove challenging to sell. This type of insurance is often misunderstood by consumers who confuse it with the mortgage insurance premium (MIP) they pay on their FHA loan. Private Mortgage Protection Insurance (MPI) and the FHA Mortgage Insurance Premium (MIP) are two completely different types of coverage.

The MIP, or Mortgage Insurance Premium that a consumer pays on a home loan protects the government, not the consumer. In the event of a foreclosure, the government will receive a percentage of the money owed on the home, paid out of the loan’s MIP. The consumer will still have to file for bankruptcy and the family will lose their home.

MPI, or mortgage protection insurance, protects the consumer and their family. If a death results in the family no longer being able to afford mortgage payments, the Mortgage Protection Insurance policy will pay the remaining balance owed on the home, negating the need to file for bankruptcy and allowing the family to keep their home.

Selling mortgage protection insurance requires an agent to be knowledgeable about the misconceptions associated with this product. He or she can act more as an educator and counselor, than a salesperson. 

Symmetry Financial Group has established a proven sales and training system to enable agents to achieve financial rewards and the rewards that come with the sense of helping families acquire mortgage protection insurance.

mortgage protection insurance