Protect your family with mortgage life insurance
Many that obtain mortgage loans either are convinced to purchase mortgage insurance through their mortgage company or do nothing at all. Either option is not the best option.
You ask “why should I not purchase mortgage life insurance through my mortgage company”? The answer is very clear. Mortgage life insurance is very expensive when purchased through your mortgage company.
Yes, mortgage companies can and do offer mortgage life insurance and they make a lot of money by doing so. You can obtain less expensive and just as good of insurance on your own through a term life policy.
I am currently 51 years of age and I have a $500,000 policy that costs me only $47 per month. I am in good health but even if you are not in the best of health, you can obtain term insurance for 5, 10, 15, or 20 years for less of a premium than you would pay through your mortgage company.
Check it out on your own. There are several on-line insurance companies that will give you a quote. It only takes a few minutes to fill out an on-line questionnaire and you will soon find out what kind of term insurance you can buy and what it will cost you.
So before you sign up to insure your mortgage with your lender take a spin on the World Wide Web and checkout term life insurance. You family and your pocketbook will be happy you did.