How would want to cover my
Mortgage.payments as well as utilitie etc
Total Comments: 1
Posted: Sun Oct 03, 2010 03:49 am Post Subject:
A "mortgage disability" policy will not provide additional funds to pay utilities or other expenses when disabled and unable to work. A personal disability policy that offers 60% or 70% of your pretax wage will pay that amount (sometimes stated as a flat or maximum dollar amount). If it's enough to pay the mortgage, utilities, grocery bills, etc, you will be in a better position than having a policy that only makes the monthly mortgage payment.
be sure you obtain a policy with the definition of disability and elimination (waiting) period most suited to your specific situation. Working with a local agent will help.
Posted: Sun Oct 03, 2010 03:49 am Post Subject:
A "mortgage disability" policy will not provide additional funds to pay utilities or other expenses when disabled and unable to work. A personal disability policy that offers 60% or 70% of your pretax wage will pay that amount (sometimes stated as a flat or maximum dollar amount). If it's enough to pay the mortgage, utilities, grocery bills, etc, you will be in a better position than having a policy that only makes the monthly mortgage payment.
be sure you obtain a policy with the definition of disability and elimination (waiting) period most suited to your specific situation. Working with a local agent will help.
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