The first stage in establishing a mortgage protection insurance company is to create

 Mortgages are not financing that is paid in a short time. Mortgage loans are characterized by being established in payments for fifteen, twenty or even up to thirty years. During all this time, the same installment must be paid month after month (in case a fixed rate has been contracted), which implies having a fixed income to cover it.

But we know that changes can occur and here is the importance of having unemployment insurance in a mortgage protect insurance.

The Right Choices

For this reason, you must be aware that during the years that you are paying for your house, many things could happen, among them, being out of work that although it is not something that is thought about much, it is completely real and a possibility. So imagine that you were faced with that situation without being certain when you would have a stable job again, how would you pay your mortgage during the time you are unemployed?

·        This is where unemployment insurance begins to be considered, which is effective when a person is unemployed and has no way to pay their debt. In these cases, the insurer is the one who takes care of the payment during the time you are unemployed, thus preventing you from being late and generating interest.

·        You may see paying for this insurance as an extra expense, but it could really help you get through a tough time. The best thing is to be prepared to face a complicated situation like the one we present to you.

Banks offer you different types of insurance and the easiest thing is to hire the one offered by the financial institution with whom you have contracted your mortgage, but it will never hurt to compare other options to choose the one that suits you best.