Do you live near Prescott, Arizona and need information on mortgage protection life insurance?
Mortgage Protection is essentially a Term Life Insurance policy. Occasionally, you can take out a more extensive WholeLife Policy, which is quite expensive. Whereas a more comprehensive Term policy is going to be manageable in cost. Insurance companies requiring excellent health can offer a more extensive coverage Whole Life Policy at a reasonable price.
It’s important to understand the differences between Whole Life Insurance vs Term Life Insurance. As you can see pictured above, Term Life lasts a certain amount of time, typically 10,15,20,25 or 30 years – depending on what your current age is. Usually to a maximum age of 80 or 85, depending on the insurance company you qualify for.
Whole life, on the other hand, lasts your whole life. It never expired and the price never changes. It can accumulate a cash value that you can use as a “loan” to yourself or more commonly it is used to make the payments on your behalf so you don’t have to later down the line.
Protect With Insurance has access to some of these companies. The Term policies will expire at some point. Typically, they are 20 to 30-year terms for Mortgage Protection Policies. They’re going to be full coverage life insurance policies. Any death, whether it’s a heart attack or car accident or anything else aside from suicide. The insurance company is going to send that check to pay off the mortgage.
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