Is mortgage life insurance necessary?

Is mortgage life insurance necessary?

While mortgage life insurance might seem like a good idea in theory, it has some serious drawbacks. In most cases, term life insurance is a much better bet to protect your home investment, along with all the other things you’ve worked so hard to provide for your family.

What is a life insurance mortgage?

What is Mortgage Life Insurance? Mortgage Life Insurance is a type of Life Insurance that is designed to be used to help with large loans such as a mortgage if you were to pass away. While it is called Mortgage Life Insurance, it doesn’t necessarily have to cover your mortgage; it can be used to protect other large loans you might have.

Is mortgage life insurance Your Best Buy?

Mortgage protection insurance is life insurance tied to your mortgage. For most people, term life insurance is likely to be a better deal.

What is the definition of mortgage life insurance?

Mortgage Life Insurance: An insurance policy designed specifically to repay mortgage debt in the event of the death of the borrower. These policies differ from traditional life insurance policies …