May 20, 2018

Life Insurance

LIFE INSURANCE FOR YOUR WHOLE FAMILY

Do not leave your love ones holding the bag "a bag full of debt" when you pass away or die. Get insurance today, and show your family how much you love them. We have whole life insurance that pays you annual dividends while you live, and term life insurance that return your premium "cash back" to you while you live (return of premium option). Call us immediately to find out how we can help safeguard you and your family when that time comes.

TERM LIFE INSURANCE, WHAT IS IT?

Term Insurance is temporary insurance. It is designed to last for a set time. For example, for 5 years up to 30 years, and then the term insurance expires.  One of the favorable characteristics of Term Insurance is that it is very in-expensive. For instance, a thirty five year old men in good health can get a 10 year term life insurance policy for as little as $9.22 per month; whereas, a Whole Lifer Insurance Policy for this same individual would cost $130.50 per month.

WHOLE LIFE INSURANCE, WHAT IS IT?

Whole Life Insurance is known as Insurance for all of the years you live. It last your whole life. The best thing about whole life it never expires. Policies written nowadays cover an individual to age 120 because so many of us are surpassing the 100 year old mark. Whole life is also used to build wealth in a family. It is not just for burying your love ones.

WHAT IS MORTGAGE INSURANCE

PMI is Private Mortgage Insurance is a type of life insurance - this insurance is required when your home is financed through FHA.  The homeowner has to pay the PMI insurance premium on the mortgage.  This insurance covers the mortgage company when the homeowner passes away (dies); then the bank owns the home free and clear.  NOT THE FAMILY, THE BANK OWNS THE HOME!! Now the family has to purchase the home from the mortgage company if they want to continue to live in the family home. This is why you need your own life insurance to pay-off the mortgage so the family home can remain the family home. Call us, Stop by or Email us today for more information.

THE EFFECTS OF PMI INSURANCE ON YOUR MORTGAGE

This Life Insurance known as PMI Insurance has a big effect on your mortgage. The chart to the right shows how PMI insurance affects your mortgage premiums over the life of the mortgage. The way to avoid PMI is to put down a larger down payment or finance your home with a conventional mortgage. Allow us to help you with all of your insurance needs.

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