Mortgage Protection Insurance

Mortgage protection life insurance is insurance that pays off the balance of your mortgage(s) if you die. When it first came out, the amount of insurance coverage you had decreased as the mortgage balance decreased. While this type of mortgage protection insurance is still available, it is usually not a good idea to purchase it. In almost all cases, it is cheaper to get regular term life insurance equal to the original mortgage amount but instead of a decreasing amount of insurance, you simply get the most inexpensive level term insurance. It is hard to argue with paying cheaper premiums to get more coverage.

Regular level benefit, level term insurance can be purchased for certain periods of time usually in 5 year increments. The policy amount is guaranteed not to decrease and the premium can be guaranteed for the full period of time. Premium payments are usually made quarterly, semi-annually, or annually. You also can usually add in option benefits such as return of premium, accidental death benefit, and waiver of premium. If you choose the return of premium option, you will get a full refund of the total premium you paid in the event the term expires before you pass away.

Finding the right term policy at the right price that gives you piece of mind

Fill out the term life insurance quote form below, and we will contact you with quotes from the top 15 life insurance providers. We can usually email these quotes to you within minutes of you submitting the form.

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Coverage Amount: - 10,000 25,000 50,000 75,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 500,000 600,000 700,000 800,000 900,000 1,000,000 1,250,000 1,500,000 1,750,000 2,000,000 3,000,000 4,000,000 5,000,000    Payment Frequency: - Annual Semi-Annual Quarterly Monthly

Desired Term: - 1 Year ART 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 Year 31 Year 32 Year 33 Year 34 Year 35 Year 36 Year 37 Year 38 Year 39 Year 40 Year Guaranteed UL

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Optional Riders: return of premium      waiver of premium        accident death benefit

 

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