Mortgage Life Insurance Policies

What Is Mortgage Life Insurance? If you have a mortgage and are a home owner, you have most likely heard the pitch for mortgage life insurance. It typically comes in an envelope from your lender and might include a letter from your lender suggesting that you buy a policy. It is important to realize though, that the insurance itself is sold by insurance companies. Even though it is called “mortgage insurance,” it is in reality decreasing term life insurance that will pay off your mortgage if you pass away. How Are Premium Payments Planned? Mortgage life insurance is a decreasing term policy. The policy starts with a death benefit that is equivalent to your existing mortgage balance. The death benefit reduces at the same pace as your mortgage balance. The premium payments never vary but may cease before the loan payment. Your lender may agree to include the premium payments to your monthly mortgage expense. Is Mortgage Life Insurance Identical to Private Mortgage Insurance (PMI)? No—mortgage... Read more »

Recent Articles

Top Articles

Mortgage Life Insurance Policies

What Is Mortgage Life Insurance? If you have a mortgage and are a home owner, you have most likely heard the pitch for mortgage life insurance. It typically comes in an envelope from your lender and might... 

August 22, 2008 | Read the story »

Collecting on a Life Insurance Policy

Is It Feasible To Collect On My Life Insurance Before I Die? Some life insurance policies authorize you to “speed up” the death benefit. This stipulation makes it achievable to collect on your... 

August 22, 2008 | Read the story »

3 Steps to Christian Debt Relief

Counseling Practices for Christian Debt Relief The term Christian debt relief can be misleading simply because it warrants debt relief for Christians only. Christian debt relief practices are actually... 

August 22, 2008 | Read the story »

The Secrets of Christian Debt Relief

How to Move Ahead In the Path of Christian Debt Relief The tenets of Christian debt relief are actually very simple and logical and yet can be extremely difficult to follow. As per Christian debt relief... 

August 22, 2008 | Read the story »

Protect Your Family With Car Insurance

Many families do not think about car insurance until they need it. That’s perfectly natural. However, to save your family some stress and anxiety, be sure that you always have current car insurance.... 

August 22, 2008 | Read the story »

Home Mortgage Refinancing – How Rates and Terms Affect Overall Cost

Two of the most important aspects of home mortgage refinancing are the interest rate and the length of the repayment period. These two factors drive the overall cost of the loan you acquire. When looking... 

August 22, 2008 | Read the story »

Baby Prams – Contemporary Style From History

The welcoming of a new baby to the family brings on many new decisions. How to best provide for your little angel so that everyone is happy – including your baby – is always a challenge. You... 

August 22, 2008 | Read the story »

New Home Mortgage - How to Prepare Yourself to Minimize Trouble in the Future

The completion of some simple steps of preliminary effort will help you to obtain your new home mortgage with the least amount of aggravation and stress. A number of preliminary steps should be completed... 

August 22, 2008 | Read the story »

Decorating and Planning For a Beautiful Baby Nursery

For many mothers to be, decorating the nursery is a very enjoyable task… a task that is not to be taken lightly. There are so many themes and designers to choose from, it can seem a bit overwhelming... 

August 22, 2008 | Read the story »

Breast Milk or Formula For Your New Baby - Here Are Some Facts

One critical decision that every new mother must make is whether or not she will feed her baby formula, or opt to breast-feed. This probably seems like an easy decision, for most. But there are a great... 

August 22, 2008 | Read the story »