Ron Kinnersley InsuranceMake sure your family keeps the house.
Mortgage protection insurance is a term life policy sized to what you still owe on your home. If you die during the term, the benefit goes to the person you named rather than to the lender, so your family can clear the loan and stay where they are instead of selling under pressure.
Match the coverage to what you still owe
Ron sizes the policy to your remaining loan balance and the years left on it, so you are not paying for protection the house does not need. Four answers is enough to start.
- ✓ Benefit goes to your family, not to the lender
- ✓ Term length set to your payoff date, not a round number
- ✓ Stacks on top of life insurance you already own
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Ron Kinnersley has your details and will call with your options. Prefer to talk sooner? Call (279) 599-3752.
Any figure named on this site is a sample estimate for illustration only, not a quote or an offer of insurance. Ron prices your actual policy after a short conversation.
This is not PMI, and the difference is who gets paid.
Private mortgage insurance is required by your lender when the down payment is under twenty percent, and it protects the bank if you default. It pays your family nothing. Mortgage protection insurance is optional coverage you choose, and it pays your beneficiary.
Mortgage protection insurance
A term life policy sized to your mortgage balance. The benefit goes to the beneficiary you named, usually your spouse, to use however they need.
Private mortgage insurance
Required by the lender, paid by you, and paid out to the lender. Your family sees none of it.
Matched to your loan, not to a round number.
Ron sets the coverage amount and the term length against your actual remaining balance and the years left to run on it, so you are not paying for more protection than the house needs or leaving a gap where it does.
That is also why the answer changes if you refinance. A policy sized to a thirty year loan you took out eight years ago is protecting a balance that no longer exists, and it is worth re-running the numbers rather than assuming.
Mortgage Protection Insurance across the Sacramento metro
Other coverage Ron places
Final Expense Insurance
A small whole life policy that pays funeral and burial costs in cash to the person you name, with a premium that does not climb as you age.
- ✓ Simplified underwriting, usually no medical exam
- ✓ Benefit paid to your beneficiary, not the funeral home
- ✓ Premium generally level for the life of the policy
Term Life Insurance
The most coverage per dollar for the years your family would feel a lost income hardest, at a premium locked for the whole term.
- ✓ Premium locked for the full length of the term
- ✓ Term matched to a payoff date or a child's age
- ✓ Many policies convert later without new underwriting
Whole Life Insurance
Coverage that stays in force for the rest of your life while a portion of every premium builds cash value inside the policy.
- ✓ In force for life as long as premiums are paid
- ✓ Part of every payment builds cash value
- ✓ Premium generally fixed, so it does not climb with age
ACA Marketplace Health Plans
Individual and family plans through the exchange, compared on what you actually pay after the premium tax credit rather than before it.
- ✓ Bronze through Platinum compared on real out of pocket cost
- ✓ Premium tax credit checked before you enroll
- ✓ No added cost for using an agent
Mortgage protection questions
How is mortgage protection different from PMI?
Do I have to use the payout to pay off the mortgage?
Can I get this if I already have life insurance?
Will my premium change if my health changes later?
Cover the balance that is actually left
Tell Ron what you still owe and how long is left to run, and he prices it against that.