Is there such thing a unemployment mortgage insurance?
May 23, 2010 by
Filed under mortgage insurance
Is there such thing a unemployment mortgage insurance? That is, insurance that pays the mortgage in the case when you are layed off.
Where can I get some
Ask your mortgage loan servicer. Most such insurance will pay your monthly payment (not escrow deposits) for 3 to 6 months. None will pay for years.
Yes, there is. It is a very limited cover, usually comes as an extention to the Mortgage Life Cover.
This cover is for a limited period only (usually up to 6 months), and is exhausted once you have used it.
AIG is writing this cover in many countries, and I guess that if you will approach your life insurance agent, he/she may be able to assist you with getting this cover.