If you’ve ever purchased a home, you know first-hand how stressful it can be. By the time you’ve signed the unending list of legal documents, the last thing you want to think about is what could happen to your home if anything ever happened to you. Homeowner’s Life Insurance from National Mutual Benefit can help you simplify things by making your monthly mortgage payment for you while providing the protection of a universal life insurance policy. For over 20 years, Homeowner’s Life Insurance has provided participating NMB members with peace of mind knowing that their loved ones could stay in their home in the event of their premature death.

National Mutual Benefit deducts your account for half of the amount of your mortgage and life insurance premium every two weeks and makes your monthly mortgage payment for you—you don’t have to do anything! By paying on this schedule, you make two additional half payments each year which help fund a universal life insurance policy. This program works with any mortgage, old or new. There is no need for refinancing, re-qualifying, credit checks, or closing costs.

One of the greatest advantages of this program is the opportunity to possibly pay off your mortgage early. As you continue paying your mortgage down, the cash value in your universal life insurance policy keeps building up. Once you have built up enough cash value, you have the option to make a withdrawal* from your policy and pay off the remainder of your mortgage. Homeowner’s Life Insurance also minimizes the total number of bills you have to pay. Additionally, since many people are paid on a bi-weekly basis, it is convenient to budget for payments that coincide with a pay schedule.

Life insurance protects your loved ones in the event of your untimely death. Your designated beneficiary will receive the death benefit to help them maintain their quality of life or pay the mortgage.

Universal life insurance is a type of life insurance policy that offers flexible premiums and an adjustable death benefit, as well as the potential to build cash value. These features make it ideal for those who want a program that can change along with their needs. Because of its flexibility, universal life insurance can be a great tool for achieving a wide variety of financial goals.

Cash value is money that can build up in a universal life insurance policy. If your policy has cash value, it can be used for whatever you need it for, whether that be paying off your mortgage faster, education expenses, home improvements, retirement, or if an emergency such as unemployment or disability occurs. Cash values can be accessed through loans and/or withdrawals. It is important to note that withdrawals from some policies may be subject to surrender charges and could have a permanent effect on the cash value or death benefit.

If you use the cash value to pay off your mortgage early, you have some options. You can decide whether you want to continue funding your policy or cancel—whatever works best for you and your situation. Because universal life insurance policies are flexible in nature, you may also choose to reduce the face amount to meet your new needs.

If you own a home, Homeowner’s Life Insurance could be a very good fit for you. Life insurance can ensure that your family, or others who live with you, are able to stay in the home if the unthinkable happens to you. If you own a home with your spouse, you can apply for a joint policy that would protect both of you. If you don’t own a home yet, but plan to purchase one someday, if you purchase a universal life insurance policy or a joint universal life insurance policy from NMB, you can easily have it added Homeowner’s Life Insurance program later on.

All you have to do is let us know! Your policy isn’t tied to one particular mortgage, so it can easily move along with you once you provide us with the new details.

For 117 years, NMB has been putting our earnings back into communities and causes, not pockets. We’re different because we make a difference. We are a unique type of organization that provides the financial protection you know you need, with the added benefit of helping others.