Michigan JASON

 

Mortgage Life Insurance

Many of our members have asked us "What Is Mortgage Life Insurance?", well this type of insurance used to be called decreasing term life insurance, but, that is not used any longer nowadays.

Nowadays, when mortgage life insurance is mentioned, it usually refers to a simple term life insurance policy. For example, if you get a 20 year mortgage on your home, you would get a 20 year term life insurance policy to cover what is owed on the mortgage - the amount paid to the benificiary will not decrease over time, it stays level.

Don't leave your family in a bind, get a policy to cover you today.

References:
http://www.mozdex.com
https://www.tdecu.org
http://www.mortgagelifeinsurance.biz
http://www.profam.com
http://www.investopedia.com


On a side note, do you know that you can get a no medical policy if the amount is small? For example, if you only need $50,000 of coverage, a no medical policy can be a good choice. A few things you have to keep in mind, tough, the costs will be higher and the policy amount, in most cases, cannot exceed $100,000.

 


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