Mortgage protection insurance is quickly becoming a great way to boost your real estate investment income. Could you use an extra $500-$1,000 a week part-time? It’s easy, cost effective and it allows you to help families even more while putting money in your pocket.
The investor who deals with -land contracts -and- lease to own deals could use the mortgage protection insurance as an extra tool in their real estate arsenal. By adding mortgage protection insurance to your services you are not only helping a family get into home ownership, but now they can stay there even if the main bread winner dies or becomes disabled. You are protecting the entire family and the best part is, you’re getting paid for it.
Mortgage protection insurance should not be confused with PMI (Principal Mortgage Insurance). PMI is a certain type of insurance policy from a bank or mortgage company in which you pay a fixed premium for a certain number of years to cover the risk of foreclosure. Should something happen to you while the policy is in effect; the insurance pays the remaining mortgage. The loan typically lasts for the life of the mortgage. As you pay off the mortgage, the end benefits goes down, too. At the end of the policy, the benefit is zero. The mortgage protection insurance I’m writing about offers a different option. Essentially you pay the premiums, and your family gets the money and the right to decide what to do with it. Also, this life insurance is portable. This means if you move in a few years, you won’t have to replace your insurance. This can save you a great deal of money since insurance rates usually increase, as you get older. The best part of all is that if you don’t die or use any of the benefits, you get all your money back tax-free. When I started investing in real estate, selling life insurance was the last thing on my mind, but that all changed. A representative of the National Agents Alliance introduced me to mortgage protection insurance last year and now the insurance side of my business is rivaling some of my real estate investments. It is possible to make five-to-seven thousand dollars a month in positive cash flow just with the insurance. No prospecting, no rehabbing and best of all no tenants.
The process is very simple and it won’t cost you thousands to begin. The most important thing required is your life insurance license. Don’t worry about passing the test, it’s easier than the realtor test and lots of the prep can be done online. There are differing laws in different states so you need to find out the precise requirements for your home state. You can get most of that information from your state’s department of insurance page.
To find out more about mortgage protection insurance and how you can earn extra money helping others check out www.BeltranGroup.com
Robb Beltran is an active real estate investor, publisher of the Real Estate Info Network and manager of the Beltran Mortgage Protection Group. The Real Estate Info Network promotes real estate education through real estate seminars, e-books and real estate investing courses. www.BeltranGroup.com www.realestateinfonetwork.com www.belstarproperties.com