Can you get mortgage insurance that includes life disability and unemployment?

Answer 1

Mortgage insuranceFor mortgage - I don't know of any companies that offer unemployment coverage other than through the State, those links are on the disability page. If you are self employed you can get unemployment and disability at your option through the State (CA) if your an employee, it's mandatory

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New answer 11/07/08 - if you are talking about private mortgage insurance, yes there are companies that offer PMI that have an option for disability and unemployment coverage.

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Add on answer 02/18/2011- You can purchase additional riders for the Mortgage Protection Insurance which is a form of Life Insurance with the premiums to be paid by the company if the owner is disabled or unemployed. Check with your agent first before jumping into any product and ask around.

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Yes, you can add unemplyment mortgage protection, as well as disability income benefits to your mortgage insurance policy. A good agent can compare different rates from multiple companies and help you through the process.

Answer 2

This type of coverage can be had in either the form of life insurance or disability insurance. A life insurance policy can be of a type that has progressively lower indemnity benefits that roughly correlate with the balance owing on the mortgage.

A disability policy compensates for lost income due to a covered disability--an inability to work. Those benefits may ve used to make mortgage payments, or for any other purpose.