Mortgage Life Insurance sold by most life insurance agencies is simply Term life insurance. The face amount does not decrease, so that if you pass away 20 years into the policy and 3/4 of your mortgage is paid off, your beneficiary can keep that 75% of the death benefit to use for other purposes.
The prices are very reasonable because this type of policy is sold everywhere and there is lots of competition. To find the cost of this mortgage life insurance, go to an online life insurance agency advertising "instant quotes" and run quotes to your heart's content.
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The prices are very reasonable because this type of policy is sold everywhere and there is lots of competition. To find the cost of this mortgage life insurance, go to an online life insurance agency advertising "instant quotes" and run quotes to your heart's content.