Mortgage Life Insurance
This an insurance policy that will repay your mortgage in the event of your death, disability, or some incapacitating illness.
A house with a mortgage is more than just a house. It’s a home. And it comes the responsibility of protecting those who live in it.
In the event of the death of a loved one, bills can start piling up without any means to pay them. Mortgage life insurance is term life insurance that is used to provide you and your family with the peace of mind that comes with knowing your mortgage will be paid off.
But if you died tomorrow, your dependents would need to replace your income for a variety of reasons, not just to pay the mortgage. It might not even make sense to pay off the mortgage.
You should start by taking your overall financial picture into account when buying life insurance.
The way you should do that is to have a financial planner or life insurance broker or agent perform what’s known as a “needs analysis.”
To Find Out To Get Your Free Needs Analysis
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