Mortgage Life Insurance

The majority of mortgage holders are under the impression that obtaining a classic mortgage life insurance policy - also called decreasing term life insurance - is the best way to insure their family is protected in case of one's death.

That is not the case. The cheapest and best way is to buy a term life insurance policy with a term equal to the mortgage term. For example, if you have a 30 year mortgage, you should get a 30 year term life insurance policy - this way your family is protected for the full term of the mortgage, and they will receive the entire amount of the initial policy, it will not decrease.



First United Methodist Church Tacoma.