Athene – Mortgage Protection Insurance Review (2024)

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Athene Annuity

Founded in 2008, Athene is a leader in the field of retirement solutions. Its management team boasts more than 165 years of combined experience in the industry and is made up of a diverse range of experts. These include Athene Holding Ltd. CEO, James Belardi, who was formerly the President of SunAmerica Life Insurance Company; and Chip Gillis, who was previously the head of Bear Stearns’ Insurance Solutions Group and CEO of Athene Life Re Ltd. as well as Apollo Global Management.

Does Athene Offer Mortgage Protection Insurance?

Athene’s team members are dedicated to helping clients manage their finances, prepare for retirement, and bolster their financial security. They use their varied experience and expertise to that end. Mortgage protection insurance is one of the popular solutions available through the company. It’s designed to give policyholders and their families added reassurance in times of emotional distress and potential financial turmoil.

Mortgage protection insurance covers the remaining balance on a policyholder’s home if he or she passes away before paying off the mortgage. It covers both the principle and the interest of the mortgage loan. Rather than providing a payout to a beneficiary chosen by the policyholder, mortgage protection insurance sends the payout directly to the mortgage lender. It’s only meant to be used to cover the balance of the mortgage loan and can’t be used for other purposes, like covering final expenses.

Athene Mortgage Protection Insurance Cost

Athene mortgage protection insurance costs vary depending on a list of factors. They include the policyholder’s age, gender, health, job-related risk factors, and location to name a few. The remaining balance on the home and the length of the loan term can impact the cost of coverage as well. Adding riders to the policy will also increase monthly premiums.

A mortgage protection insurance calculator is available on the Athene website. Homeowners can use it to get a general idea of how much an MPI policy would cost them each month. Individual customized quotes can be obtained by contacting a company representative. Athene strives to help clients find policies and add-ons that provide the amount of coverage they need without exceeding their budgets.

Riders for Athene Mortgage Life Insurance

Insurance riders, or floaters as they’re also known, are likewise offered through Athene. Riders can ramp up policyholders’ coverage and provide additional peace of mind in the event of unexpected hardships. Several riders are available to cover different eventualities. These include bankruptcy protection, critical illnesses, and accidental deaths among many others. Return-of-premium riders are common add-ons for homeowners, too.

One of the more popular add-ons for mortgage protection insurance is disability rider. It covers mortgage payments when policyholders become disabled due to a work-related injury or other type of accident. Unemployment riders are highly recommended as well. They cover mortgage payments for predetermined amounts of time if policyholders lose their jobs through no fault of their own. Riders generally have limitations and exceptions, so fully understanding their terms is crucial.

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