Who is Mike Brenhaug

Hi Mike Brenhaug here.  I’m a live human like you.  In a world of AI and bots, I believe it’s important to know who you are working with more than ever.  

Please watch this short introduction video.  

 

 

 

Mortgage Protection

 

Mortgage protection pays your home off or makes the monthly payment to protect your home and equity if you should unexpectedly die or become sick or injured.

No one ever expects things will happen to them but life does happen.  Unfortunately, we don’t have a crystal ball.  The risk are real and mortgage protection life insurance can protect your home and family should life happen

 

  • Mortgage protection – Pays your home off or makes the monthly payment to protect your home and equity.
  • Living expenses – Covers daily living expenses such as car payment, gas, utilities, groceries, auto insurance, medical expenses, etc.
  • Credit cards
  • Medical bills and prescriptions
  • College
  • Funeral expenses
  • Childcare
  • Moving expenses
  • Home repairs
  • Term – Typically the most affordable. Term insurance covers a specific period of time typically 10, 20, or 30 years. Many people will purchase Term to cover the years when they have children at home and a larger mortgage because you can get more coverage.
  • Whole Life – Covers you for your Whole Life as long as you make the premium payments.  There are other benefits to a Whole Life such as it builds cash value, you can borrow against it, and some offer living benefits.  It’s a great product that never expires so as you age you have the peace of mind that you will always have something to protect your family.
  • Return of Premium – This is a term policy that has a feature where the insurance carrier pays you back your premium at the end of the 20 or 30-year term if you have not passed away.  It’s great for people who want coverage during the working years with a family, and when you retire you’ll get the premium you paid during that time returned to you in one lump sum – tax-free.
  • Indexed Universal Life – Indexed universal life is a form of universal life insurance and is considered to be one of the most flexible types of life insurance. You also have the potential to build cash value in your policy and some come with Living Benefits features

 

 

Living Benefits for Mortgage Protection

 

Many of our top-rated carriers include living benefits at no additional cost.  Living benefits allow you to use a portion or all of your policy death benefit If you experience a qualifying life event such as terminal, chronic, or critical illness, or critical injury.

There are no restrictions on what the benefit can be used for providing you and your family the flexibility to take care of what is important to you.

Examples of what the benefit can be used for:

  • Mortgage or rent payment
  • Home repair/modifications
  • Day to day bills
  • Day care
  • Nursing home
  • Travel
  • In home health care
  • Moving expenses

 

 

Living Benefits Qualifying Events

 

Each carrier has different parameters on what qualifies as a qualifying event.  Here are some of the common critical illnesses & critical injuries.

Terminal Illness

If you are diagnosed with terminal illness that will result in death within 24 months certifiied by a physician.

Chronic Illness

If you are not a able to perform two of the six ADL (activities of daily living) for a period of 90 consective days or you are cognitively impaired.

Activities of Daily Living

  • Bathing
  • Continence
  • Dressing
  • Eating
  • Toileting
  • Transferring

Critical Injury

  • Coma
  • Paralysis
  • Severe Burns
  • Traumatic Brain Injury

Critical Illness

  • ALS (Lou Gehrig’s disease)
  • Aorta Graft Surgery
  • Aplastic Anemia
  • Blindness
  • Cancer
  • Cystic Fibrosis
  • End Stage Renal Failure
  • Heart Attack
  • Heart Valve Replacement
  • Loss of limb
  • Major Organ Transplant
  • Motor Neuron Disease
  • Stroke
  • Sudden Cardiac Arrest

The information listed on this website is for informational purposes only.  Each carrier and state have different guidelines on what riders are available and the percentage that can be accelerated.  It’s important to discuss your policy with the carrier or a licensed agent for information that is specific to you and your state.