Decreasing Term Life Insurance to Pay Your Mortgage
October 14th, 2008 by admin
Do you have a home that you are still paying a mortgage on? Will your existing life insurance policy pay that mortgage off when you die? If so, will there be enough left over for your loved ones to live on for a while? Most people cannot answer yes to either of these questions, and they should consider getting more life insurance.
One type of life insurance that you can get that will pay off you r mortgage is Decreasing Term Life Insurance. This type of life insurance is attached to your mortgage and in the event of your death it will pay off your home, but won’t pay for anything else that it is not attached to. Some people use decreasing term life insurance for other large debts as well.