Mortgage income protection insurance is fast becoming a key component of a sound financial plan for many American families. Rising prices for food and other household items, decreasing real estate values, and sudden layoffs at many companies have all contributed to the increasing demand for this type of income protection insurance product.
Income Protection AND Mortgage Repayment Protection
Paycheck Guardian is a company that offers a membership plan with an insurance component that will pay out a cash benefit if you become unemployed. These funds can be used for making your mortgage payment, rent payment, or ANYTHING at all that you want. These funds are yours to decide what you want to use them for and they are paid directly to you.
United States Unemployment Statistics
According to the United States Bureau of Labor Statistics the unemployment rate has been steadily climbing since February of 2008. The US seasonally adjusted unemployment rate in February 2008 was 4.8%. In October of 2008 the rate increased to 6.5%. Many experts predict the rate to increase even further. No matter what the unemployment rate may be it is always prudent to have a sound financial plan to prepare for your future.
Take Steps to Safeguard Your Future Today
Be sure that you do what is necessary to protect your income against sudden unemployment. Unemployment insurance will only pay out a small amount that in most cases is hardly enough to buy groceries let alone pay your mortgage. Consider a mortgage income protection insurance plan today and give yourself peace of mind.