| Many people wisely use term life insurance as a way for a surviving spouse to pay off a mortgage in the event of an untimely death. In a two-income family it is certainly worth considering insuring both spouses, as the loss of income on either side might jeopardize the survivor’s ability to maintain the mortgage.
More and more homeowners are turning to a product called return of premium term to fill this gap in their financial portfolio. The beauty of return of premium term is that it provides the protection needed for whatever term length you choose, and at the end of the term it provides a cash refund of all the payments made toward that insurance.
Financial professionals like agents at the Hinerman Group can show you how you can help pay off your mortgage with life insurance even if you outlive the insurance. Say a person had a 30-year mortgage for $200,000 and took out a return of premium policy for 20 years. Let’s say each spouse had a policy that cost $500.00 a year. At the end of 20 years most of the principal is paid off. At that time the couple receives a refund of the premiums paid. Two people times $500.00 times 20 years equals $20,000. This is tax-free money that can be applied to your mortgage.
It is innovative thinking and knowledge of available products that sets the agents at the Hinerman Group apart from most captive agents and agents who are restricted to only a few companies. Call today and visit with one of our agents toll free at 866-539-7914. The Hinerman Group is licensed in all 50 states and DC and stands ready to provide options for your unique situation.
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Term Length And You Life Insurance
How To Decide On Life Insurance Term Length
Picking The Appropriate Life Insurance Term Length
Life Insurance Options When Determining Term Length
Options To Mortgage Term Life Insurance Quotes
Mortgage Term Life Insurance Quotes
Alternatives To Mortgage Term Life Insurance Quotes
Accurate Life Insurance Quotes
Reliable Prices For Term Life Insurance Quotes
Why Life Insurance Coverage
Life Insurance Is Family Protection
Mortgage Life Insurance
Life Insurance Information
Life Insurance Is Need Specific
Variable Universal Life Insurance
Life Insurance Agents (Captive Vs. Independent)
Life Insurance Agents |
