Mortgage Protection Life Insurance

We realize that you are searching for mortgage life insurance quotes online because you want to compare rates in the comfort of your own home.

We completely understand!

Our mortgage life insurance calculator will provide you with accurate quotes from many life insurance companies.

Here’s the funny thing!

Many people will often run quotes using our DIY website for a higher premium rate than they deserve.

If you are serious about getting the best mortgage life insurance rates, let us “spot check” your quotes for accuracy.

Do us a favor, and make sure that you have provided us with your correct name, email, and phone number.

This will allow us to promptly email you a customized proposal to fit your exact needs and budget.

Our goal is to find you the CHEAPEST RATES in America!

We realize that you are searching for mortgage life insurance quotes online because you want to compare rates in the comfort of your own home.

We completely understand!

Our mortgage life insurance calculator will provide you with accurate quotes from many life insurance companies.

Here’s the funny thing!

Many people will often run quotes using our DIY website for a higher premium rate than they deserve.

If you are serious about getting the best mortgage life insurance rates, let us “spot check” your quotes for accuracy.

Do us a favor, and make sure that you have provided us with your correct name, email, and phone number.

This will allow us to promptly email you a customized proposal to fit your exact needs and budget.

Our goal is to find you the CHEAPEST RATES in America!

We realize that you are searching for mortgage life insurance quotes online because you want to compare rates in the comfort of your own home.

We completely understand!

Our mortgage life insurance calculator will provide you with accurate quotes from many life insurance companies.

Here’s the funny thing!

Many people will often run quotes using our DIY website for a higher premium rate than they deserve.

If you are serious about getting the best mortgage life insurance rates, let us “spot check” your quotes for accuracy.

Do us a favor, and make sure that you have provided us with your correct name, email, and phone number.

This will allow us to promptly email you a customized proposal to fit your exact needs and budget.

Our goal is to find you the CHEAPEST RATES in America!

A mortgage protection plan is simply a life insurance policy to pay off your mortgage upon your untimely death.

You will pay a reasonable premium to a life insurance company with the peace of mind that your mortgage balance will be paid off in case of death.

In many cases, couples will purchase mortgage life insurance on both the husband and the wife.

Mortgage protection life insurance is like tissue compared to Kleenex; it is a branded name used by banks for life insurance used to cover your mortgage.

However, the branded name and ease of purchase are much more expensive than term life insurance for mortgage protection purchased in the open marketplace.

Negative features of bank mortgage protection life insurance:

Higher Premiums: Premiums are lumped into your mortgage payment which means you are paying finance charges on the premiums.

Decreasing Death Benefit: The death benefit will decrease each year, but your mortgage life insurance rates will remain the same.

Duration: The death benefit will decrease as your mortgage balance gets paid down.

The beneficiary is the bank: The beneficiary is almost always the bank or credit union.

If you are in decent health, the cost and benefits of our mortgage term life insurance far outweigh the ease of obtaining mortgage death insurance from your bank.

Here are a few of the advantages of our mortgage protection service:

Lower Premiums: Individual term life insurance premiums are much cheaper than bank mortgage life insurance rates.

Level Death Benefit: Your death benefit will remain the same even as you pay off your mortgage.

Duration: Term life insurance rates can be coordinated with your mortgage duration and can remain the same for 15, 20, or even 30 years.

Beneficiary Flexibility: You can name your spouse or children as your beneficiary.

Additional Needs: You can save money by purchasing one umbrella policy to cover your mortgage and other needs like income protection and final expenses.

Good news!

To qualify for a mortgage term life policy, most applicants typically only need to complete a brief health interview on the phone.

You will need to be in decent health, under the age limit of 60 years old, with less than a $1,000,000 death benefit to qualify for no exam coverage.

In some cases, you may be asked to complete a brief medical exam.

If you are older or have medical issues, working with a life insurance company that requires a medical exam is often beneficial.

Sure, you can buy life insurance to pay off your entire mortgage balance.

However, many people can often get by with a minor policy to assist with the payments until the house can eventually be sold.

This strategy can often save you a lot in premiums by not buying a policy to cover your entire loan.

Mortgage protection coverage can be customized to any duration that you choose.

You can always decide on how long you would like to lock in your mortgage life insurance rates.

Keep in mind that the average length of time for living in a home is only ten years.

So, you could save money by purchasing only a 10-year mortgage term life policy.

However, if you think you will live in your home for a long time, you can also coordinate your coverage to match your loan’s amortization schedule.

For example, if your mortgage loan runs for either 15 or 30 years, you could buy a matching 15 or 30-year mortgage term life insurance policy.

Not if you are in decent health!

If you have recently closed on a mortgage loan, you will receive a flood of solicitations for mortgage protection insurance.

These postcards are usually disguised as official communication from your mortgage lender.

These mass mailings typically only contain a few details on the policy they are selling you.

If you respond, an agent will call you to schedule an appointment to come to your home.

Here is the reason why most intelligent people should not fall for the sales pitch!

Most of these mortgage protection plans offer less flexibility and have much higher costs than individual term life insurance.

These costly policies are only a good idea for people in poor health because of their simplified approval process.