Affordable Life Insurance Protection for Your Family
How to Buy Insurance for Mortgage Protection
Are you looking for life insurance to pay off your home mortgage?
If so, mortgage life insurance plans can provide the financial security your family needs in case you pass away. They receive the death benefit from your mortgage insurance policy to use as they need, including to payoff your outstanding balance on the mortgage loan for your home.
That means your loved ones will be safe and secure knowing they can stay in the home they shared so many memories with you, in case you die.
Whether you are a new home owner or plan on buying a home, getting the proper life insurance plan to protect your family can provide you with peace of mind knowing they will be able to remain in your home in case you die.
And, mortgage insurance plans offer affordable rates to fit your budget. You can compare plans and pricing for coverage that will provide you with protection for a term of 10, 15, 20 or 30 years, depending on what you need, with premiums that are guaranteed to remain the same each year for the entire term length.
For instance, if you have a 30 year mortgage loan you’ll want to get coverage for 30 years. The "term" or length of time you have protection, is flexible to meet your needs.
Do I have to take a physical exam?
Some life insurance plans for mortgage protection may require an exam but offer competitive rates. While others that do not require you to take an exam may charge a little more, but if you qualify, you may start your life insurance today.
For example, one insurance carrier offers up to $500,000 of mortgage life insurance with no health examination required. You just answer some questions about your health and they decide if you qualify for a policy.
How to I find the lowest price for a mortgage insurance policy?
That’s easy. You can instantly compare the best prices available from a network of top carriers with no delays and no obligation.
You don’t even have to meet with an agent. You just fill out a short Quote Request form which tells the provider what you’re looking for and how much coverage you need. Then, you instantly receive the lowest quotes for mortgage insurance.
How much insurance coverage do I need for my mortgage?
That depends on the amount of your mortgage loan that is currently outstanding.
How much do you still owe on your home mortgage loan? Check your current mortgage statement and find out how much you owe, or check how much the loan amount is on your home you have bought or plan on buying.
Can I Buy Insurance Mortgage Policy Online?
Yes, there are life insurance brokers and providers of mortgage insurance that allow you to complete the entire purchasing process over the internet, if you want.
For example, JRC Insurance is a national life insurance broker with a network of leading insurance companies. They can assist you in completing the purchase of your mortgage life insurance policy.
First, they can help you to instantly compare rates. And, they have a toll-free number with licensed insurance representatives available to help answer any questions you have. They will walk you through the entire process of buying your policy.
They’ll help you choose the highest-rated insurance company with the best price available. And, if you’d rather buy a no exam mortgage life insurance policy, they have that option available for you, too.
Mortgage Insurance Quotes
Top Pick – JRC Insurance Group
JRC Insurance Group helps you shop, compare and save on life insurance. Regardless of your age or health background, we'll shop our 40+ insurance companies and find you affordable life insurance you need to protect your family and fit your budget. Compare the best life insurance rates for savings up to 73%. Get Your FREE Quote
Highly Recommended – Haven Life Insurance Agency
Haven Life uses the information provided in your application to make an instant decision on your application. Healthy, qualified applicants (based on the information provided in your life insurance application) can be insured immediately with no medical exam while other applicants can receive immediate coverage pending a medical exam.
Applicants age 60-64 are eligible to apply for up to $1 million in coverage; subject to underwriting approval.
Some qualified applicants (U.S. citizens up to the age of 59) will be able to finalize coverage without the need for a medical exam. The majority of applicants are still required to take a medical exam.
Keep in mind: Issuance of the policy or payment of benefits may depend upon the answers given in the application and the truthfulness thereof.