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Term life insurance and your mortgage



Life insurance and your mortgage options

There are different types of life insurance policies, and Bogle Agency Insurance based in Lyndhurst Bergen County, NJ, can help you find the choice that’s best for you. An alternative is life insurance. If you have a mortgage, this could be a good option for you in the form of Mortgage protection insurance. This insurance helps protect your home and family when an unforeseen financial hardship occurs. This insurance protects your mortgage and in turn your home, which is usually the largest asset most people have. Learn about NJ Term Life Insurance and protect your mortgage.

There is also coverage called Mortgage Life Insurance that protects your mortgage. With Mortgage Life Insurance your mortgage gets paid but the mortgage lender is the beneficiary of the policy. If you were to pass away, your lender would have to pay the rest of your mortgage. With a whole life insurance policy, the beneficiary is one or more people you choose and they receive the face value of the policy. The proceeds can be used for whatever purpose the beneficiary chooses.

How is my mortgage protected?

Mortgage protection insurance can help cover you in the following ways:

  • 1. Your mortgage is paid off in the event of death.
  • 2. Monthly mortgage payments can be made during a time when you are disabled or
    temporarily unemployed.
  • 3. If you are diagnosed with a critical illness, paying a lump sum can help.
  • 4. Benefits are tax-free for beneficiaries and can help pay your mortgage.

There are other ways in which this type of insurance can be of importance to you should a financial hardship arise due to illness, injury or death.

Talk to a professional about mortgage protection insurance

Bogle Agency Insurance has been serving NJ families since 1919. We have been proud to provide NJ individuals, families and businesses with professional insurance advice and protection for over 100 years. Call us at (201) 939-1076 for a consultation with one of our helpful, friendly agents regarding mortgage protection insurance. Knowing that your family is fully protected gives you peace of mind.

Bogle Agency Insurance offers a variety of different types of insurance to NJ residents. Call us back Health insurance, Homeowners insurance, Car insurance and so much more.


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