Affordable Life Insurance Protection for Your Family
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:
To get a level term life insurance quote to protect your family and your mortgage, click here. We've partnered with JRC Insurance Group 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 – 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.
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.