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Cash Back Option

The cash back option, also known as the “Return of Premium” is a popular and unique optional add-on that Marino Financial can offer to those who qualify.

imageWe are able to combine our standard Mortgage Protection plans with a cash back option to return all funds paid to the carrier back to our clients. This does not lower any benefits during the protection period. For many clients with a traditional 30 year mortgage we are able to set up a 20 or 25 year option that will pay off the home either 5 or 10 years early, saving tens or even hundreds of thousands worth of interest payments for our clients.

Essentially, you can benefit from the protection you need for your family for the time it is needed.  If you do not utilize the benefits of your policy, YOU GET ALL OF YOUR MONEY BACK.  This is ideal for families with 30 year mortgage that take out a 20 year policy.  At the end of the 20 years, the return of all premiums paid can then be applied to the balance of the mortgage to pay the home off about 10 years early.
For example:
A Joe and Erin are paying $1,000 per month or $12,000 per year would pay the bank $360,000 for a 30 year mortgage. By selecting our 20 year plan we can save them 10 years of payments, or $120,000 worth of payments to the bank. All while protecting the family for the first 20 years in the event of death, disability, or accident.
For more on the best options for your family, contact Marino Financial Group at (865) 686-8204 or info@MarinoFG.com.