Paula M asked in Business & FinanceInsurance · 1 decade ago

Is a monthly premium of $113 for MPPI on a $937/mo mortgage reasonable?

MPPI is Mortgage Protection Payment Insurance

4 Answers

  • 1 decade ago
    Favorite Answer

    If this is protecting your mortgate payment against layoffs or illness, then it's extremely high. You'd have to have a claim every 9 months to equal the mortgage premium. I've had mortgages continuously for over 30 years and have never had a claim.

    If you're talking about PMI -- Private Mortgage Insurance, then it may be about right, depending upon the equity in your home and your credit rating.

  • 1 decade ago

    That seems high, if the P+I portion of the mortgage is only $937.

  • Anonymous
    1 decade ago

    It depends on your age, smoker, etc. They have return of premium insurance now. Which means you get all of your money back if you don't use the coverage. Here's a good link.

  • 1 decade ago

    call around

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