Mortgage Disability Income Insurance – Michigan
Michigan Mortgage Disability Income (MDI) Insurance is currently available through State Farm Mutual Automobile Insurance Company. Details about coverage, policies, and benefits are listed below. Please read a brief description of the State Farm™ Mortgage Disability Income Insurance in Michigan.
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Since your monthly requirements are unique, your MDI — including its cost — can be tailored to your needs. You pick:
- Your monthly benefit amount.1
- The length of time you must be disabled before you start receiving benefits (your Elimination Period).2
Plus, this policy pays in addition to other disability policies you may have.
Monthly Benefit Amount
This is the "monthly income" that you would receive to help pay your mortgage if you became totally disabled and are eligible for benefits as defined in the policy.
Waiver of Premium
If you become totally disabled and fulfill your Elimination Period, State Farm will pay your premiums as long as you remain totally disabled until the end of your benefit period.
For more detailed benefit descriptions, please contact your State Farm agent.
Premiums rise periodically based on the age of the insured at the time of renewal. This policy is guaranteed renewable to age 67.
Exclusions and Limitations
This policy does not cover any loss caused or contributed to by:
- Normal pregnancy and childbirth; however, complications of pregnancy are not excluded.
- Any attempt at suicide, whether sane or insane, or any intentionally self-inflicted injury.
- War, declared or undeclared, or any act or hazard of war.
- Injury sustained or sickness contracted while you are in the armed services.
- Pre–existing Condition Limitation. There is no coverage for any loss incurred or disability that is caused by or results from a Pre–existing Sickness or Physical Condition subject to the time limit on certain defenses provision.
- If total disability results from two or more causes, the monthly income amount payable shall be limited to the amount payable for total disability from a single cause.
- Participation in the commission of an assault, felony, riot, or insurrection.
- Injury or sickness which results from the use of marijuana, narcotic drugs, hallucinogens, barbiturates, amphetamines, or tranquilizers which are not prescribed for you by a physician.
- No benefits are payable while incarcerated.
This is a marketing tool intended for use in the sale of insurance. Completion of an application for a State Farm insurance policy will require contact with a State Farm insurance agent.
This information provides only a brief explanation of coverage. It is not a contract, and exclusions and limitations apply. There are terms under which the policy may be continued in force or discontinued. A complete statement of the coverage provided is found only in the policy itself. Modifications apply in some states. See Mortgage Disability Income policy series 97055MI for exact terms and conditions. Contact your State Farm agent for details and cost.
1 Minimum and maximum benefits apply.
2 In order to quality for policy benefits the insured must meet the definition of total disability set forth in the applicable policy form.
State Farm Mutual Automobile Insurance Company