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Mortgage Protection Insurance

Mortgage Protection Insurance

Mortgage Protection Insurance

Mortgage Protection Insurance

If you’re like most Americans, your mortgage payment is your single largest monthly expense. Do you know what you would do if you became sick or disabled and couldn’t meet your payment obligation? Savings can only last so long, and you don’t want to end up losing your house. Mortgage protection insurance guards against such an outcome. Macino Financial understands your desire to protect your home and family.

We will put our experience to work for you in evaluating and selecting the most attractive mortgage protection insurance plan to meet your needs.

What Does Mortgage Protection Insurance Cover?

If you have a valid policy and become temporarily or permanently disabled, you can expect payment of some or all of your mortgage payment for a set time frame. Should you pass away while your mortgage protection insurance policy is in effect, it may pay off your mortgage in its entirety. This is a valuable gift to give your spouse, children, or anyone else who depends on you for financial support.

How Much Will You Pay for Mortgage Protection Insurance?

Many mortgage lenders offer this type of insurance at closing, but new homeowners often decline or overlook it because they don’t understand its value. After more than a decade of helping clients obtain insurance against their mortgage, we understand the factors that determine a homeowner’s rate. These include:

  • The current market value of your home
  • Your regular monthly payment amount
  • The current payoff amount of your mortgage
  • Your age and current health status
  • The risks inherent with your occupation

If you pass away before paying off your mortgage, the insurance company sends a check to the loan provider to cover the payoff amount. Your survivors don’t have to worry about how to make the monthly payment without the benefit of your income.

Don’t Confuse Mortgage Protection Insurance with Private Mortgage Insurance

One reason that people turn down mortgage protection insurance is that they assume they already have it. Homeowners confuse it with private mortgage insurance, which lenders require on loans over a certain amount. This protects lenders in case of default while mortgage protection insurance benefits you as the borrower.

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Investment advisory services offered through Virtue Capital Management, LLC (VCM), a registered investment advisor. VCM and Macino Financial Services are independent of each other. For a complete description of investment risks, fees and services, review the Virtue Capital Management firm brochure (ADV Part 2A) which is available from your Investment Advisor Representative or by contacting Virtue Capital Management.

The content of this website is provided for informational purposes only and is not a solicitation or recommendation of any investment strategy. Investments and/or investment strategies involve risk including the possible loss of principal. There is no assurance that any investment strategy will achieve its objectives.


Information provided is not intended as tax or legal advice, and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional.


Macino Financial Services and/or David Macino are not affiliated with or endorsed by the Social Security Administration or any other government agency.


Fiduciary duty extends solely to investment advisory advice and does not extend to other activities such as insurance product sales, including annuities, life insurance, and long term care insurance or broker dealer services. Advisory clients are charged a monthly fee for assets under management while insurance products pay a commission, which may result in a conflict of interest regarding compensation. IAR is also a licensed insurance agent. In this capacity, IAR may offer fixed life insurance products and receive normal and customary commissions. The client is under no obligation to purchase products through IAR on a commissionable basis. In addition, IAR may receive other compensation such as fixed or variable life trails. The potential for receipt of commissions and other compensation when IAR acts as an insurance agent may give IAR an incentive to recommend insurance products based on the compensation received.

Index or fixed annuities are not designed for short term investments and may be subject to caps, restrictions, fees and surrender charges as described in the annuity contract. Guarantees are backed by the financial strength and claims paying ability of the issuer.

Investment advisory services are offered through Virtue Capital Management, an SEC Registered Investment Advisor. Macino Financial and VCM are independent of each other. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration is not an endorsement of the firm by the Commission and does not mean that the adviser has attained a specific level of skill or ability. All investment strategies have the potential for profit or loss. Changes in investment strategies, economic conditions, contributions or withdrawals may significantly alter a portfolio’s performance. There is no guarantee that any specific investment or strategy will be suitable or profitable for a particular client. Past performance is no guarantee of future success. We cannot guarantee that a portfolio will match or outperform any particular benchmark. None of the content should be viewed as an offer to buy or sell, or as a solicitation of an offer to buy or sell the securities discussed. Information on this website does not involve the rendering of personalized investment advice, but is limited to the dissemination of general information on products and services. A professional adviser should be consulted before implementing any of the options presented.