Bucket Sheet
The way your mortgage protection plan works is that BOTH of you will be covered for $400,000. Mr.
Smith, when you die, your wife will immediately receive $400,000, and that's paid 100% income tax free.
Also, Mrs. Smith, when you die, your husband will receive $400,000 immediately and income tax free.
Now, if both of you die at the same time, your family will receive both amounts, so in your case
$800,000 and that's important because with most plans, your family would just receive the one amount.
Now, your monthly premium is $150 per month and that is guaranteed to stay level for 30 years, AND,
that is for the both of you.
Return of Premium
Now, let’s say its 30 years down the line and you didn't die. If you cancel this plan at that time, you will
receive all your money back or $____ in your case. That's every penny you have paid out over the past 30
years! This is important because with most plans when you cancel, you don't receive anything back, you
just stop being covered.
ANOTHER benefit is that this plan includes an accelerated death benefit, meaning if you are diagnosed
by a physician as being terminally ill or have 12 months or less to live, the insurance company will give
you access to 50% of your death benefit, or in your case up to $200,000 while you are still living and
you can use that money for mortgage payments, medical expenses, to spend time with your family and
the balance will be paid to your family after you pass away. That way your family will always be taken
care of.
This policy is Portable. If you move or refinance the mortgage, the coverage remains in effect
Creditor Proof. Not subject to credit claims or debt collectors
And Guaranteed Level for the next __ years. Benefit doesn’t decrease with mortgage and
premiums can’t go up during the term of the coverage.
So, when you die, YOUR FAMILY IS TAKEN CARE OF
If you become terminally ill, YOU ARE TAKEN CARE OF
And if NONE of these things happen, you are GUARANTEED to receive all your money back. Mr.
Smith it’s like having the money in the bank all these years.
So, you have all the protection if you need it and all your money back if you don’t!
Can you see why we recommend the mortgage protection plan to so many of our clients? It just makes
sense in the long run, don't you agree?
