Mortgage Life Insurance
Whether you live in Texas, Georgia or even California, you can easily obtain affordable mortgage life insurance products that are best suited for you and your family. This is where Mortgage Protection Insurance can serve as a vital partner in your life insurance decision making, by helping you shop around and select from the highest rated life insurance companies for the policies that best meet your individual needs.
When it comes to mortgage life insurance, it is critical to have a team of friendly, knowledgeable, trustworthy, and experienced life insurance agents who know everything there is about products sold in America. These experts can help you learn the difference between Term, Whole, and Universal life insurance products, determine how much insurance you should buy during the different phases of your life, and help you secure a policy that best meets your budgetary needs.
Affordable Mortgage Life Insurance QuotesIn this economy, some may put off purchasing mortgage life insurance until things take a turn for the better. However, most experts believe that this is perhaps the best time to purchase affordable products. One thing is certain: no one knows when the inevitable will happen. If you haven’t done all that you can to prepare your family with the financial security they need to continue on without you, when you meet your untimely death, you will certainly leave your family in an extremely difficult and stressful financial situation. With so many options available, you can easily purchase an affordable policy that can assist your family with all their financial needs. For example, with a Term policy, upon your death, you family will receive a predetermined sum of money. This benefit can be used for funeral services, assist with mortgage, car loans, children’s education funds, and to create a safety net for all other financial needs. Other products such as Universal life insurance products are also great way of investing funds (similar to the stock market) that provide an added layer of financial security for your loved ones.
Selecting the Best Products
With so many choices and options in both products and carriers, purchasing mortgage protection life insurance can quickly become overwhelming and confusing. But it doesn’t have to be that way. The experts at Mortgage Protection Insurance are here to assist with you all your life insurance needs. This includes answering all your questions about products and services, helping you find a highly rated life insurance carrier, determining exactly what type and how much life insurance you need, and answering all your questions relating to life insurance. All you need to do today is to click on the “Get Quotes” button, complete a short personal survey and soon, you’ll be on your way to owning the perfect life insurance product that best meets your personal and individual needs, budget, and goals.
Regardless of your current health and financial situation and the financial goals you’re creating for your family’s future, our team of expert agents can help you obtain quotes from multiple licensed life insurance carriers throughout the US. These carriers are competing for your business so it’s important that you team up with a company that can is an expert in Mortgage Protection Insurance products and can help give you the greatest number of options that meet your specific needs and wants. We have access to the highest rated insurance carriers in the State and once we obtain the appropriate quotes, we can help you sift through your choices in order to select the best possible policy.
How Much Life Insurance Coverage Do I Need?
Ask any life insurance agent what is the single most common question asked about life insurance and they will all agree on the same answer! Everyone wants to know exactly how much life insurance coverage they really need. However, the answer will surprise you! There isn’t a magic number that is used for every single person. Two healthy white men in their 40s could very well purchase completely different policies with different terms (10, 15, 20 or 30 year expirations), or one could purchase a Term policy while one elects a Whole policy. Factoring in age, occupation, amount of benefit payout, and current health, you can easily see how even two people purchasing the same identical policy could end up with different coverages and with different premiums.
One thing is for sure. People need life insurance to help protect their loved ones against financial hardships and life’s disasters that strike at any given time. Accidents happen without warnings and every day, families are left to pick up the pieces after their loved ones (in most cases, the breadwinners of the family) is no longer around. So in order to determine how much coverage you need, it is critical to take some time to think about the seemingly minor and large expenses that would need to be taken care of in your absence – and the key is to think as far into the future as possible. This includes your monthly mortgage coverage, car loans, student loans, health and dental insurance, college tuition for your growing children, transportation expenses, daycare/childcare expenses, and all other daily living expenses including groceries, utilities, etc. One rule of thumb also used in generic terms is to purchase close to 10 to 20 times your current annual salary.
When it comes to purchasing mortgage protection life insurance, it pays to consider all the options available to you. Whether you’re healthy or have a health condition such as Diabetes, we won’t rest until we find the right type of product that meets your specific situation and needs. In some cases, we are able to locate no-exam life insurance products or fully underwritten policies. Every situation is unique and requires personal attention and care. Regardless of your specific situation, our team of experts will give you the personal attention and care you require.
What Mortgage Life Insurance Products are Available?
Term Life InsuranceWe have all heard of Term Life Insurance before but many are unsure of what it is and how it works. Term is typically established for a specific period of time. You can purchase 10, 15, 20 or 30 year term policies. If you outlive your term, you and your beneficiaries will not receive any benefits. Purchasing a term policy is relatively inexpensive. It is also the most popular form of life insurance. To find out if this is a good option for you and your family, speak to an expert agent who can weigh all your options and choices and help you determine if this is an appropriate plan.
Whole Life InsuranceUnlike Term, Whole Life Insurance is a more expensive coverage option. It is also more complicated than Term. Unlike Term, as you pay your higher monthly premiums on a timely basis, its value builds over time. This type of policy does not expire and is a guaranteed way of providing cash benefits for your family after your death.
Universal Life InsuranceUniversal Life Insurance is a combination between Term and Whole policies. The premiums paid into a Universal policy become an investment of sorts. One major drawback to this option is that it works in conjunction with the stock market so the value may go up or down depending on how the stock market is performing. If the market is doing well, your cash value can increase significantly. In the beginning, this option may be as expensive as a Whole policy, however, over time, as the value and performance goes up, the money made from the investment can be used for personal loans or to the pay the monthly premiums themselves.