What is mortgage life insurance
Mortgage life insurance is a type
of coverage that pays a death benefit to your surviving spouse and/or
family in the event of your death. This money is paid directly to the
family (not the bank), so that the family can either pay off the
mortgage in a lump sum, pay down some of the principle, or just keep
making the monthly payment until they decide whether they want to sell
or keep the home.
But most importantly it gives the family options that they otherwise
would not have.
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Term Life Insurance
Term Life Insurance is the most
popular type of life insurance because it is very inexpensive. You can
select 10, 15, 20, or 30 year terms. We only recommend 15 years or
higher, as they provide the most value for your money.
Universal Life
Insurance
Universal Life Insurance is the recommended policy
for people that want to make sure that they can keep their plan in force
for their entire life. Also called a "Level plan", the Universal Life
plan normally runs to age 90 or 100 and the premium that you start with
never increases! This means just make the premium payment and your
family is pretty much guaranteed to receive the money.
What Happens To Your Family If You Don't Have
Enough Coverage?
Under any circumstances, the loss of a
loved one is a traumatic experience. But, if your family is
also left without sufficient money to meet basic living needs or
prepare for future goals, they will have to cope with a financial crisis
at the same time. Depending upon their current financial resources and
ability to "get back on their feet" emotionally and financially, your
family might be forced to move to a less desirable home or community,
abandon education and career plans, reorder family priorities (such as
the amount of time spent with the children) and, in general, cut back on
the quality of life you have worked hard to achieve.
Your family might even be forced to go
into debt simply to pay the expenses, like funeral costs, taxes,
and medical bills, that result from your death. A moment's
reflection will tell you that the lack of sufficient life insurance
coverage when a loved one dies can have devastating consequences for a
family...consequences that can last for years.
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Policy Reviews
Why do you need a policy review,
you ask? Because it is quite possible that if your plan is 5 or
more years into your term, you could replace it with a longer term plan
now while you are still young and healthy and be much better off in the
long run. Plus, many insurance plans include a conversion option (to a
permanent Universal Life plan) that we can help you take advantage of.
One other thing... term rates have come down in the past 5 to 10 years,
meaning you could refresh that old term policy and quite possibly for
the same amount of money or slightly more than you are paying now. A
simple review will tell you for sure.
Call for a preliminary review by phone -
(949) 394-7676. We can do the whole thing by phone!
We work with only AM Best "A+ Superior"
rated companies or better. We also work with the most competitive plans
out there, so fill out the the form below and see just how affordable
protecting your family's financial future can be!
New!
Plans for people with pre-existing health issues
Health issues? We have
"Non-medical exam" mortgage insurance plans that do not require a
medical exam, blood test, etc. If you have health issues (high blood
pressure, diabetes, high cholesterol, etc.), this is a great option.
Call or respond by Internet (see form below) to learn more.
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Return of Premium Plans
For a little extra premium, you
can apply for a "Return of Premium" policy. That means you get
all of your money back at the end of the term. Essentially it guarantees
that your family's mortgage is protected for the life of your mortgage
(20 or 30 years) and then returns all of your money in the end. This is
an excellent option to ensure that your family does not lose the home,
due to an unexpected tragedy, plus acts like a savings plan at the same
time.
Plans for Seniors
We also specialize in the senior market, providing income replacement
and "critical need" insurance that people on a fixed income can afford.
This is great way to guarantee that your family will not be burdened
with your final expenses.
Find out now... Request a
quote below, or call and speak with a broker immediately, to go over
your options.
(800) 610-6418 Bill Lorenz
