June is National Homeownership Month!

Create a BANK for Your Needs as a Homeowner!

Most people, when they purchase a home, also get a mortgage protection insurance policy. This is a term policy that pays off your mortgage if for some reason you are unable to pay it. The thing is, this policy usually protects the bank more than it protects you! Your bank is usually the beneficiary of this type of policy. If you can’t pay your mortgage, the bank can get the money from the insurance, then foreclose on your house, then turn around and sell your house! They end up getting paid twice for your misfortune!

Even if you get your own term insurance that pays your family in the event of your death, you still have to think about those huge, major home repairs that come up. Your home’s foundation cracks. The pipes break. Your wiring has to be replaced. Any of these things can be devastating to the value of your home, and to your wallet!

That’s where an Indexed Universal Life (IUL) policy becomes a mortgage protection policy that can turn your home into a bank for you.

Here’s how it works:

You purchase a policy that is split between a term policy and a whole life or indexed universal life policy.

The term policy gives your family money to pay off the remainder of your mortgage in case you are no longer here to pay it. 

The IUL portion grows over time, and provides money for major home repairs. Your roof, your foundation, the plumbing, the wiring, all those things can be paid for from the IUL policy. You don’t have to worry if your credit cards can cover it. You don’t have to get a second mortgage. You don’t have to get a home equity loan. You can get those repairs done without worrying, and keep your home’s value.

And if you never have to use it, your family still gets the money after your death.

As you put more money into the IUL, it grows and grows and grows. You have the peace of mind of having your own private bank…in your home. And when things happen, which we know they do – you have the means to take care of it. To take care of your family. And to take care of yourself.

Click here to make an appointment, so we can talk about your options.