ADinsurance.com
1999-2008 Access Direct Insurance All rights reserved. About Us | Contact Us
1999-2008 Access Direct Insurance All rights reserved. About Us | Contact Us
1999-2008 Access Direct Insurance All rights reserved. About Us | Contact Us
Mortgage Protection Life Insurance
The face amount under mortgage protection term insurance decreases over time, consistent
with the projected annual decreases in the outstanding balance of a mortgage loan.
Mortgage protection policies are generally available to cover a range of mortgage repayment
periods, e.g., 15, 20, 25 or 30 years. Although the face amount decreases over time, the
premium is usually level in amount.
Further, the premium payment period often is shorter than the maximum period of insurance
coverage for example, a 20-year mortgage protection policy might require that level premiums
be paid over the first 17 years.
Can a life insurance policy provide payment for an outstanding mortgage loan?
Yes! An existing term or cash-value life insurance policy, can be used for many purposes,
including paying off an outstanding mortgage loan balance in the event of the insured death.
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