The phrase “Mortgage Protection” refers to the marketplace, not a specific life insurance product. Like the final expense market, mortgage protection (MP) has also stood the test of time! It’s considered to be one of the most fun and lucrative markets for life insurance agents and agencies! It can also present excellent cross-selling opportunities.
When consumers purchase a home or refinance it’s an ideal time for insurance agents to talk with these people about protecting that mortgage, hence the term “mortgage protection.” However, any homeowner is a potential prospect!
The objective is to find these consumers and then match them with a licensed agent to compare plan options and pricing! Term life insurance often makes the most sense, but it depends on the specific need or preference. Some people will want Living Benefits or Return of Premium (ROP) or they may even prefer a permanent solution.
Bottom line --- this is an extremely lucrative market and agents with access to quality leads can fill up their calendars with appointments! Mortgage Protection candidates have a wide array of ages and incomes. First in the door usually wins, so having a quality lead program is critical.
Fortunately, Life Professionals can help you! We offer high quality mortgage protection leads at an extremely competitive price, top ranked carriers and very generous contracts.
Contact Life Professionals if you have any concerns or questions! Our experienced team is here and able to help you master the Mortgage Protection market.
Examples of carriers that Life Professionals represents for this market include American National, Americo, Cincinnati Life, Foresters, Mutual of Omaha, TransAmerica and more.