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 Achieving the dream of home ownership is one of the most exciting accomplishments of life; it is also the largest investment you may ever make. Mortgage insurance can help you get into your dream home sooner because it allows you to put less money into the down payment on your loan. And when it comes to protecting your home and your family from the repercussions of financial loss, you want the flexibility offered by a broad range of life insurance products to help meet your family's unique needs if ever you couldn't be there in the future.
Mortgage insurance helps you free up more of your cash to pay for other top priorities in your life such as your children's college tuition, a new car, or investments for the future.
Since mortgage insurance protects lenders from financial losses if ever a homeowner is unable to repay the loan, it allows lenders to offer loans requiring lower down payments - as little as 3 to 5 percent. In some cases, buyers can purchase a home with no money down. Without mortgage insurance, you may be required to pay as much as 20 percent down - no small expense for hard-working homebuyers.
While mortgage insurance helps you buy a home with less money down, life insurance - the most basic and essential protection - provides security for your family if you die prematurely. The death benefit from life insurance, which is paid to your beneficiaries, can help your family members pay off the mortgage, maintain their lifestyle, and cover college tuition expenses.
An experienced professional can help you select from a variety of term and universal life insurance policies to best protect your home and family. In fact, some universal life insurance policies allow you to accumulate cash value that can be borrowed against, to use as your needs and household grow in the years to come3.
Safeguard your most precious asset - your family, while protecting your home. Contact us to find out what type of insurance product is right for you and your family.
1 Mortgage insurance products are underwritten by Genworth Mortgage Insurance Corporation (in all states except New York) and Genworth Residential Mortgage Insurance Corporation of North Carolina (in New York).
2 Term and universal life insurance products are underwritten by Genworth Life and Annuity Insurance Company, Genworth Life Insurance Company and Genworth Life Insurance Company of New York; variable life insurance products are issued by Genworth Life and Annuity Insurance Company and Genworth Life Insurance Company of New York. Genworth Life Insurance Company and Genworth Life & Annuity are not licensed in the state of New York and do not solicit business in the state of New York.
3 Policy loans which can reduce available death benefit and, if a policy is surrendered with an outstanding loan, a taxable event may occur.
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