Life Insurance on a Mortgage Loan

Can I buy life insurance to protect my mortgage loan?

Yes. Many people use term life insurance policies to help them protect their mortgage loan in case they die before it is fully repaid.

You can select an amount of life insurance that matches your outstanding mortgage loan balance, and choose a policy “Term” (duration) for coverage that matches the duration of your mortgage loan – usually 10, 15, 20, 25 or 30 years.

And, name your spouse or family member as beneficiary of your term life insurance policy, so they can receive the death benefit upon your passing, and use the funds to pay off the mortgage so your loved ones may remain in the home they shared with you.

Learn more about life insurance on a mortgage loan.

Life Insurance for People with Kidney Failure

Is there life insurance for people with kidney failure?

Actually, although kidney failure is a high risk for life insurers, there may be ways ti get insured.

First, you’ll want to ask your employer about your group life insurance plan – these usually cover all employees, regardless of health.

Also, there are guaranteed issue life insurance plans available for people between the ages of 45 to 85. Get a free quote.

If you meet the age requirements, you are guaranteed approval, as long as you can pay the premiums.

Learn more about life insurance for people with kidney failure.

What is Term Life Insurance Good For?

If you are considering the purchase of a term life insurance policy, you probably need protection lasting for a period of thirty years or less.

Term life is temporary protection which means it lasts for the duration of your policy “Term”. A term for term life coverage may be for 10, 15, 20, 25 or 30 years, usually.

Many people buy term insurance to provide protection for their family to replace their income, pay off the mortgage loan, or other debt they leave behind.

Term life offers the lowest priced life insurance protection by far, compared to other forms of coverage available.

However, you may end up outliving the duration of your term life insurance policy.

Learn more about what term life insurance is good for.

Cheap Life Insurance for Family

Is there any cheap life insurance coverage available for families?

Yes. Term life insurance is by far the cheapest type of life insurance available.

Term life offers low cost coverage lasting for a period of up to 30 years.

You can buy term life insurance plans on yourself, your spouse and your children.

Or, you could buy a term life insurance policy on yourself and add riders to your policy to provide coverage for your spouse and children.

Here’s how to find cheap life insurance for families.

Life Insurance for a 65 Year Old Male

If you’re a 65 year old male looking for life insurance coverage you basically have a few options that may meet your needs.

Term life will offer you the most coverage at the lowest price; however, term plans may be limited to a duration of 10, 15 or 20 years, due to your age.

Permanent life insurance will cost a lot more; however, it provides you with lifetime protection no matter how old you live to be.

In addition, there are guaranteed issue life insurance policies available to anyone age 45 to 85. These plans guarantee your approval regardless of your health. That means there are no health exams required, and you won’t have to answer any questions about your health.

Learn more about life insurance for a 65 year old male.

What is Life Insurance and Do I Need It?

Life insurance is a contract between an insurance company and the owner of the life insurance policy.

The insurance company agrees to pay out a death benefit on the policy when the insured person dies while the insurance is In Force.

In return, the owner of the policy agrees to pay premiums on a regular basis for the life insurance coverage.

The death benefit is paid to the beneficiary which is chosen by the owner of the policy.

If you have anyone who relies on you for financial support you may have a need for life insurance coverage.

Learn more about what is life insurance and do I need it.

What Type of Life Insurance is Best?

The best type of life insurance for you will depend on your specific situation and goals.

What do you want your life insurance plan to accomplish for you and your loved ones?

Also, your age, health, budget and the amount of life insurance will impact your buying decision.

As well as, how long you need your life insurance policy to last.

If you need life insurance for a period of 30 years or less, then term life offers the most affordable coverage.

If you need life insurance guaranteed to last your entire lifetime, then permanent life insurance will help.

Learn more about what type of life insurance is best for you and your family.

What is Death Benefit Insurance?

Death benefit insurance is a type of life insurance that only provides a death benefit payout with no cash value inside your policy.

While permanent or whole life insurance may build cash value inside the policy, and provide a death benefit, term life insurance is death benefit only life insurance.

Term life is temporary life insurance lasting for a specific period of time.

If the insured person dies while the policy is In Force, the death benefit is paid out to the beneficiary of the insurance policy.

Because term life is temporary coverage and only provides a death benefit, it costs a lot less than whole or permanent life insurance plans.

Learn more about how death benefit insurance works.