Are you paying too much for your mortgage insurance?Written by Ivon T. Hughes
Most of us, struggling to make our mortgage payments, realize importance of financially securing our home and our lifestyle by putting in place some life insurance. Your bank or lending institution does too! They will usually require that loan amount be covered by life insurance to protect them in unfortunate situation of you dying before loan is paid.The problem is that most of us are so excited about buying our new home, we quickly checkmark box to indicate that we want mortgage life insurance without checking market to see if you are paying too much. For smokers or unhealthy individuals, this type of creditor insurance can be an excellent value. For vast majority of us, healthy, non-smokers, will likely get a better rate by shopping market.
| | Mortgage Life InsuranceWritten by Ivon T. Hughes
Owning a home is a dream for most of us, although it is an expensive one. The monthly payments usually take up a big slice of our monthly income, and sudden loss in event of you or your spouse's early death may leave your survivors unable to make payments. To make your family is protected from financial hardship, consider Pick-a-Term Mortgage Protection insurance.Pick-a-Term Mortgage Protection has a descreasing death benefit to match your mortgage balance at beginning of each year. And because death benefit decreases along with your mortgage balance, cost of Pick-a-Term is less expensive when compared to non decreasing term life insurance. Life Insurance: Decreasing Or Not? If you go to your local bank, along
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