allstate mortgage protection insurance

After taking a look at how mortgage insurance works and what it provides, some people turn to term life insurance to cover their beneficiaries with financial protection beyond the balance of their mortgage. Many people use mortgage protection insurance in place of or along with traditional life insurance or disability insurance. "If a surviving family has been used to living on two incomes and they lose one income, a lot of times they will not be able to keep up the mortgage payments," says Merideth. That’s because the lender doesn’t require mortgage protection life insurance. Allstate Mortgage 1260 North Dutton Ave. Suite 274 Santa Rosa, CA 95401 707-521-3434 On behalf of the Allstate Mortgage Team we would like to thank you for visiting our website. Mortgage protection insurance usually only pays off your mortgage balance, unlike term life insurance, which has a fixed death benefit. Make sure you take the time to shop around before making a final decision – you need to know the details of the policy before you commit. When it comes to protecting your home, quality coverage makes all the difference. We apologize for any inconvenience. Excess Flood Insurance is provided by one or more insurance carriers not owned by or affiliated with Allstate Insurance Company. You have entered an invalid ZIP. A local agent can answer any questions and help you tailor the coverage that is right for you. Please enter zip code. As a mortgage broker, Cassandra knows that she plays a critical role in educating her clients about their protection options. Although many lenders offer the insurance, it’s not built to protect them. Here at Allstate Mortgage we believe in the principal design that our team is accountable to our … Call me today to learn about the different types of coverage Allstate offers. When Should I Refinance My Mortgage Loan? They’ve been sending out little sales pitches along with our mortgage statements. Allstate Identity Protection is offered and serviced by InfoArmor, Inc., a subsidiary of The Allstate Corporation. Please try again later. 3 reasons you should avoid mortgage protection insurance. Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers.com receives compensation. Homeowners insurance usually helps protect more than just your home and the stuff inside it. This is usually for 12 months or whenever you can return to work – whichever happens first. A homeowners insurance policy can be a great way to help protect your home and what you've put into it. Shop around because different agencies will have different coverage options and prices. If you have a mortgage on your home, chances are you’ve gotten plenty of offers for mortgage protection insurance. Should I Save for a Down Payment on a House or Pay Off Debt? Should you need such advice, consult a licensed financial or tax advisor. You don’t always have to take them up on the offer, however, since you can also obtain mortgage protection through most insurance agencies and other independent sellers. In addition to providing protection for the physical structure of your home, homeowners insurance typically includes personal property coverage. And unlike typical mortgage protection insurance, term life insurance pays the full death benefit that was set when the policy was bought, no matter how much the mortgage balance is. That’s why she always makes it a point to discuss mortgage protection insurance with her clients and how it can help if something really big happens. © 2020 Money Crashers, LLC. References to products, offers, and rates from third party sites often change. Learn details at allstate.com about our products and services, recent company news, careers, financial information, and our commitment to the community. See why 218,388 people subscribe to our newsletter. Protect Your Belongings In addition to providing protection for the physical structure of your home, homeowners insurance typically includes personal property coverage. Mortgage protection insurance is, basically, a specific type of life insurance. 1. Mortgage insurance helps pay a portion or all of your mortgage if you were to die. Your heirs won ’ t require mortgage protection insurance, here are a few key differences and reviews... Heard about mortgage protection insurance is broadly similar to other types of term insurance! Policy can be a great way to help protect your home, I started receiving mailers information. Learn how you can return to work – whichever happens first house and family with mortgage protection.! It has now been more than a year, and, at the end the! 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