Mortgage Insurance Question
Question: Can I take out insurance for $100,000.00 if my mortgage is only 50,000?
Yes, you can take out insurance for any amount that a company will offer
you. It is called "mortgage" insurance simply because a lot of people buy it
in case the husband or wife die leaving only one person to make the monthly
mortgage payment.If you were taking the insurance to pay off all debts if
one spouse should die, you could call it "debt" insurance.
Yes, you can take out insurance for any amount that a company will offer
you. It is called "mortgage" insurance simply because a lot of people buy it
in case the husband or wife die leaving only one person to make the monthly
mortgage payment.If you were taking the insurance to pay off all debts if
one spouse should die, you could call it "debt" insurance.
posted by Ivon T. Hughes at 11:11 AM
5 Comments:
Great article! Mortgage. Find best mortgage rate and mortgage calculator.
great blog, www.firstlifeoptions.co.uk
Mortgage Life Insurance can be provided by purchasing 20 or 30 year level term life insurance to protect your mortgage.
That way, you can purchase $100,000 or more of coverage, even if your mortgage is only $50,000.
You can even get up to $250,000 of mortgage life insurance with no medical exam required online in about 10 minutes from an "A+" rated insurer.
Learn more about Mortgage Life Insurance.
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