Yes, VA loans do not include any life insurance or disability coverage. Veterans should get mortgage protection to ensure their family can keep the home. Veterans may qualify for competitive rates due to their service.
Many veterans assume their VA benefits include mortgage protection. They do not. A VA loan provides favorable mortgage terms, but if you die or become disabled, your family is still responsible for the payments.
Many private carriers offer preferred rates or special programs for veterans. Combined with VA mortgage benefits, mortgage protection ensures your family has complete financial security. At CoverMeOnline, we specialize in helping veterans find the most affordable coverage for their situation.
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Mortgage protection insurance (MPI) is a life insurance policy that pays off your mortgage if you die, become disabled, or are diagnosed with a terminal or critical illness. It ensures your family can keep the home no matter what happens. Read more
Veterans can access SGLI (active duty), VGLI (post-service), VA disability-based insurance, and private market policies. Private policies often offer better rates and coverage than government options for healthy veterans. Read more
Living benefits allow you to access your mortgage protection death benefit while alive if you are diagnosed with a terminal illness, critical illness (heart attack, stroke, cancer), or become disabled. This money can be used for any purpose including mortgage payments. Read more
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