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	<title>New answer on: Is Life Insurance On A Mortgage Compulsory?</title>

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		<title>By: BILL HANNA</title>

		<link>https://insurancelibrary.com/life-insurance/is-life-insurance-on-a-mortgage-compulsory</link>

		<dc:creator>BILL HANNA</dc:creator>

		<pubDate>Wed, 10 Jun 2015 18:00:15 +0000</pubDate>

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		<description><![CDATA[Life insurance on a mortgage is not mandatory.However, Private Mortgage Insurance (PMI) may be required by the lender if less than 20% of the mortgage amount is made by the borrower as a down payment. The lender may request that the Private Mortgage Insurance be purchased through them. Be sure to review options to (PMI) for example Term Insurance as an alternative...]]></description>

		

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		<title>By: David Pipes</title>

		<link>https://insurancelibrary.com/life-insurance/is-life-insurance-on-a-mortgage-compulsory</link>

		<dc:creator>David Pipes</dc:creator>

		<pubDate>Thu, 04 Sep 2014 18:47:26 +0000</pubDate>

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		<description><![CDATA[A life insurance policy covering the mortgage is rarely required.  That doesn’t mean that a privately place mortgage might not require such coverage.  The problem with the requirement is that it depends upon the health of the customer.  Mortgage companies universally require “hazard” insurance but that does not include the life of the borrower.]]></description>

		

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		<title>By: Jeff Davis</title>

		<link>https://insurancelibrary.com/life-insurance/is-life-insurance-on-a-mortgage-compulsory</link>

		<dc:creator>Jeff Davis</dc:creator>

		<pubDate>Thu, 30 Jan 2014 16:43:22 +0000</pubDate>

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		<description><![CDATA[It is not mandatory to have mortgage insurance. There are three  types of insurance for a mortgage. The first is private mortgage insurance which is required by lenders when borrowers put down less than 20% of the purchase price. The second is insurance that is placed on the borrower and will pay off the mortgage should the borrower die. The third is insurance that is placed on the borrower but is no connected to the mortgage, only to the borrower. His heirs can use the funds to pay off the mortgage if they want to but are not obligated to.]]></description>

		

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		<title>By: Peggy Mace</title>

		<link>https://insurancelibrary.com/life-insurance/is-life-insurance-on-a-mortgage-compulsory</link>

		<dc:creator>Peggy Mace</dc:creator>

		<pubDate>Mon, 27 Jan 2014 20:17:59 +0000</pubDate>

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		<description><![CDATA[No, life insurance on a mortgage is not compulsory. However, if you cannot make a down payment of 80% or more when you secure your mortgage, you will probably be required to purchase PMI (Private Mortgage Insurance).  The lender may ask you to purchase PMI through them, and it can be costly. Term life insurance, by contrast, is usually cost effective and an excellent vehicle for protecting both your mortgage and your lender.]]></description>

		

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		<title>By: Matt Benore</title>

		<link>https://insurancelibrary.com/life-insurance/is-life-insurance-on-a-mortgage-compulsory</link>

		<dc:creator>Matt Benore</dc:creator>

		<pubDate>Mon, 27 Jan 2014 18:06:30 +0000</pubDate>

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		<description><![CDATA[Life Insurance on a mortgage IS NOT compulsory however the mortgage or lending company may require you to have life insurance with the company listed as the beneficiary until the loan is paid off.  This is what we call a Collateral Assignment.  If there is any benefit remaining after the loan is paid off, in the event of your death, the remaining listed beneficiary&#039;s will be paid according to the percentages listed.]]></description>

		

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