Mortgage List for Life Insurance
Are you looking for a mortgage list for life insurance information, tips, and providers of quality, affordable mortgage life insurance to protect your mortgage, and your family.
Are you a new homeowner with a mortgage, looking for life insurance to pay off your mortgage in case you die?
When comparing life insurance plans to protect your mortgage, you may want to consider how many years you need coverage, what type of life insurance you need, and how much you can afford, as well as, how much life insurance you need.
Mortgage List for Life Insurance:
Mortgage life insurance usually provides coverage for 10, 15, 20, 25 or 30 years. If you have a 30 year mortgage, you may want to choose coverage for a term of 30 years.
How much can you afford to pay for your mortgage insurance?
Make sure you review your budget, and decide what you can afford each month to protect your mortgage.
How much mortgage protection do you need?
Well, what is the outstanding mortgage loan amount? If it’s $300,000 then you may want to purchase $300,000 of coverage.
What type of life insurance is right for you, to protect your family, and your mortgage?
Mortgage life insurance protection is life insurance that provides money to pay off your mortgage in case you die while the mortgage is not fully paid off.
The original type of mortgage protection insurance followed the balance of your mortgage. As your mortgage amount decreased over the years, so did the amount of your mortgage insurance.
Today, it makes sense to get mortgage term life insurance equal to the amount of your original mortgage amount, instead of a decreasing amount of life insurance.
It has become more common to buy the most inexpensive level term life insurance with rates guaranteed for 20 or 30 years. The reason most people choose level term insurance to protect their mortgage is because rates are more competitive, and the premium and amount of coverage can be guaranteed for the full term of the policy.
Level Term Life Insurance makes more sense for your Mortgage Protection for the following Reasons:
- Life insurance with guaranteed lower rates than a mortgage life insurance policy.
- Coverage that will pay off your mortgage in case of your death.
- The life insurance amount does not decrease.
To get a level term life insurance quote to protect your family and your mortgage, click here. We've partnered with WholesaleInsurance to give you the best quotes from 40 top-rated insurers. Fill out one easy form and get your side-by-side life insurance quotes instantly. Get a FREE Life Insurance Quote.
Mortgage List for Life Insurance Resources:
Top Pick – WholesaleInsurance
Compare the best mortgage life insurance quotes from 40 of the leading life insurance companies in less than 2 minutes! Save up to 73%. Get up to $400,000 of mortgage life insurance with no health exam required. Request your free quotes for life insurance.
Mortgage Guaranty Insurance Corporation - Helps families achieve home ownership sooner with low down payment loans.
FHA - Mortgage insurance is a policy that protects lenders against losses that result from defaults on home mortgages. FHA loans require mortgage insurance primarily for borrowers making a down payment of less than 20 percent.
Protecting your family in case you pass away, by purchasing mortgage life insurance to help pay off your mortgage, can be one of the most important things you do to protect your family’s future. Take time today to protect the ones you love.
Mortgage Life Insurance Quotes
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