What Is Mortgage Life Insurance?
If your purchase a new home with a mortgage, or if you refinance your home, you are sure to get some offers for a product called mortgage insurance or mortgage life insurance. The card in the mail, or the phone call on your answering machine, will probably offer to protect your home mortgage in case of death, and maybe disability, and critical illness. In addition, you will see some mention of mortgage unemployment benefits.
Categories: Life Insurance Tags: decreasing term, Life Insurance, mortgage life, rop, term life
Decreasing Term Life Insurance
Why Buy Decreasing Term Life Insurance?
Many people buy low cost decreasing term life insurance so they can get an affordable premium that will suit their needs. This is used when a person decides that their need for coverage will decline over time. Since the face amount of the policy declines, the premiums should be even lower than they are for a typical term policy where the premium remains the same.
It is easy to understand when you consider a common use like mortgage life insurance.
Categories: Life Insurance Tags: decreasing term, term life
