Payor Benefit Insurance: A Comprehensive Coverage for Policyholders and Beneficiaries
Payor benefit insurance is a type of insurance that provides financial protection to policyholders in the event of a covered event, such as disability or death, ensuring that payments continue to be made for specific expenses, such as a mortgage or child’s education. For instance, if a policyholder experiences job loss due to disability, the insurance can step in to make the mortgage payments, preventing potential foreclosure.