Mortgage life insurance is one of the most important life insurance policies a person who owns a home can buy. Since the ownership of this home is probably the largest investment for most people it is imperative that your investment be protected in the event of premature death. I want to take some time to discuss alternative plans that can be used to do this.Mortgage Life InsuranceWhat really is mortgage life insurance. Mortgage life insurance pays off the balance owed to the bank or mortgage company in case of your premature death. Let us assume you have a $100,000 25 year mortgage on your house. Let us also assume that after 5 years you have a balance owed of $95,000. Incidentally that figure is not as impractical as it sounds. Your principal decreases very slowly in the early years. Back to our discussion; You now believe you should take out some mortgage life insurance because you now have a new baby. What you need is a 20 year decreasing term policy which would usually be … [Read more...] about Mortgage Life Insurance & Mortgage Redemption and Cancellation Life Insurance
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Life Insurance QuoteThere may be plenty other things where you could spend your money, why put your money to buy Life Insurance? You could have bought that flat screen TV instead but then what good would it be after a few years? These things would not count for much when our spouses and children do not feel safe and sound. Life insurance provides your family security even when you are not there. This investment is long term.Get the quote from the best company:Life insurance quotes can be obtained from the best life insurance company so that you are sure that you get the best of what is offered. You would like to be sure that even when you pass away, your family will carry on living in the house you had built for them. The house you have seen your children grow up, where they took their first step and the house where you as a family dined together. They will feel safe that their house would not be taken away no matter what happens.Why do you need it??But in spite of the all the … [Read more...] about Life Insurance – Dont let life catch you with your pants down. Get insured
For those of you who think that life insurance isn't important, or that you can "do it tomorrow", I have a tale to tell.I have to preface this by telling you that in August of 1983, my family took a vacation. We went to visit my aunt who at that time was living in Connecticut. My mother is a severe believer in adequate life insurance protection, and my parents were at that time seriously underinsured, should something happen to one or the other.Now, my father was a mechanical engineer working up in Greenland, and he would be gone for 3+ months at a time. So my mom literally nagged my father about getting a life insurance policy that was more suitable before we went on vacation, because almost as soon as we returned from this vacation, he would be returning to work.I remember it like it was yesterday. My father was an unbelievable procrastinator (as am I), and was quite happy to put it off for another God knows how many years. But my tenacious mother wouldn't have it. She dragged him to … [Read more...] about Never Underestimate The Importance of Life Insurance
Which life insurance policy should you buy? You will at some time in your life come to the conclusion that you need to buy some life insurance. You have a pretty good idea how much you need but deciding which life insurance policy is best for your particular need is another question. There are many to choose from. May be if we examine the varying reasons why people buy life insurance and which policy best fits a particular need you would more easily come to a decision. Here goes.Mortgage Life Insurance ProtectionMost people have a desire to own a house at some time. Some are small and cozy and seem to just ooze family. Others are larger and may seem to project affluence and success. One thing they all seem to have in common is that this piece of property is very important to it's owners. Sometimes it is simply pride of ownership that drives a person to buy a house. In other situations this home is bought because the couple may just want a home for the family. They want their children … [Read more...] about Which Life Insurance Policy Should You Buy?
I clearly recall the days when term life insurance was something you just didn't buy. The argument by prospective clients went something like this. "Why should I put out money to buy this policy which pays only if I die? I am young now and I am not ready to die just yet." The life insurance companies didn't mind very much. People would buy whole life insurance or modified whole life policies simply because they would get back some money if they didn't die within 10 or 20 years. These premiums are more costly than term policies. The buying public is more educated now and term life insurance has found it's place.People have discovered many great ways of investing money so they no longer consider whole life insurance as a savings vehicle...it was never a great one anyway. More people are investing in stocks, mutual funds and money market investments than they ever had. They have 401K plans on their jobs in many cases. Term life insurance policies are much improved. They can be kept for … [Read more...] about Term Life Insurance Has Come A Long Way