Supplement Disability and Unemployment Insurance Can Prevent Foreclosures and Bankruptcy
Almost half of the mortgage delinquencies were caused by unemployment and loss of income! The second factor that caused families to get behind on their mortgages was a family illness.
An illness could prevent a wage earner from working, and while Americans may have health insurance, many are not covered for disability.
A much smaller percentage of Americans were simply over extended, or actually had a death in the family.
Can We Prevent The Causes For Mortgage Delinquencies? We cannot prevent layoffs, and it seems like we get the news every day about large companies cutting back on staff.
Many American workers, through no fault of their own, find themselves out of work.
This can happen very suddenly and the workers have no chance to prepare themselves.
A worker may take months to find another job, or they may have to take a job for much less money because they have an urgent need to pay bills.
Even when state unemployment insurance kicks in, the amount is usually much less than the income it is replacing.
A normal state unemployment check may cover groceries, but will not pay a mortgage or keep the lights on.
In the case of illness or accident, there is no way to go back to work.
If the worker has no disability coverage, it can take month or years to qualify for social security disability benefits, even if the worker can qualify at all! Private Mortgage and Unemployment Insurance Provides Peace Of Mind If you are employed, and are responsible for monthly bills like mortgages, utilities, and grocers, then you will want to consider a private mortgage insurance policy.
The plans are easy to quote and apply for online, and they will provide security at a very affordable price.
If you do not have any disability insurance, this is an affordable and simply way to obtain that important coverage.
Even if you do carry some disability insurance at work, you can still obtain this plan, and since you own this plan, you do not have to worry about keeping it if you lose your job! But most important, disability and health insurance will not cover you for involuntary job loss! However, we can tell you how to do that.
You can continue your life, secure in the knowledge, that even if you job ends, your financial security will be extended.
You can look for the right job, instead of taking a job in a panic.
Even though these private unemployment and mortgage protection policies are easy to apply for, and do not require health questions, some limitations apply.
For instance, the qualification for unemployment benefits is generally the same as the qualification for state unemployment benefits.
However, even if you do not think you qualify for that portion, because you are self employed or a business owner, you can certainly take advantage of disability or life benefits with no health questions.
Make sure you talk to a licensed representative or read further to make sure they fit your own needs.