How Does Life Insurance Work?
Purchasing a home is typically the biggest purchase of your lifetime, and the mortgage is the single largest debt we'll ever owe. Protecting that investment with life insurance for homeowners is smart move. Think about what could happen if you or your spouse dies with no life insurance coverage. How would those mortgage payments get made? What would happen to your family home?
Buying a house is a big step in many people's lives - whether you are a first time home buyer or have some experience in real estate. Most people take out a mortgage in order to accomplish this piece of the dream. With the average length of a mortgage 30 years, it is important to provide long-term protection for your family with a term life insurance plan for homeowners.
A Life Insurance policy can help relieve that stress and worry for homeowners. The duration of the term life policy can be matched to the mortgage length, from as low as 10 years up to 35 years. You may also want to purchase a coverage amount of your policy equivalent to your home value. Monthly premiums on a term life policy can be reasonable for the amount of protection you can get, especially if you're young and lead a healthy lifestyle.
As a homeowner, you've got a lot to think about. A Term Life Insurance policy can offer a peace of mind and one thing less to fret. Get a free Term Life Insurance quote online right now on a policy that could meet your needs. Or call, to see how affordable a term life insurance can be for a new homeowner.
Refinancing is also a good time to evaluate your life insurance needs and decide whether a new or additional policy makes sense for you and your family.
If you've engaged in a remodeling project, it may also be a good time to revisit your life insurance coverage. The remodel may have required an additional mortgage or investment, and added value to your home. If your remodel was driven by an increase in your family size, then that's another reason to review your coverage and be sure your family is adequately protected.
If you'd like more information to decide what kind of coverage you need, our knowledgeable licensed life insurance agents can answer your questions. We can give you a no hassle, no obligation free term life insurance quote from some of the country's leading insurers.