 Yes, the purchase of a new mortgage protection term insurance policy is usually not required by the lender.
An existing policy, either term or cash-value life insurance can be used for many purposes, including paying off an outstanding mortgage loan balance in the event of the insured's death. How does mortgage protection term insurance differ from other types of term life insurance?2/19/2016
The face amount under mortgage protection term insurance decreases over time, consistent with the projected annual decreases in the outstanding balance of a mortgage loan.  We had a question posted on our Facebook page asking the following question; What's the difference between "term" and "whole" life insurance, what's the best at what age, and how do you convert? We turned to our own Bill Zimmer for insights on these questions, here's what he said.  |
Just for you!This blog is to serve as a learning center created just for you! Have suggestions? Don't be afraid to speak up, we encourage you to send us your thoughts, needs, and wants! Archives
July 2016
Categories
All
|
RSS Feed