Q: What
are
the
chances
that
I
won't
live
long
enough
to
repay
my
mortgage?
A:
The
statistical
risk
of
dying
is
much
greater.
The
risk
depends
on
your
age
at
the
time
you
obtained
your
mortgage.
Statistical
information
obtained
from
*NAIC
Commissioners
Standard
Ordinary
Mortality
Tables
reveal
that
the
chances
of
death
before
completing
a
30
year
mortgage
are:
Age
50:
Almost
Certain
Age
40:
one
out
of
2
Age
30:
one
out
of
4
Q:
I
Think
I'm
already
paying
for
this
coverage,
hw
How
do
I
know
for
sure
if
I'm
covered?
A: The
best
way
to
be
sure,
is
to
review
your
policy
carefully.
If
you
still
are
not
sure
of
your
coverage,
ask
your
Life
insurance
Agent
to
review
it
with
you.
If
you
never
received
a
policy,
or
lost
your
policy,
make
sure
you
request
a
duplicate,
Review
it
carefully
and
keep
it
in
a
safe
place.
Often
home
owners
mistakenly
believe
their
Homeowners
insurance
affords
this
protection.
Or
that
the
premiums
they
are
paying
for
PMI
affords
this
protection
Q:
What
is
(PMI)
Private
Mortgage
Insurance?
A:
Don't
Mistake
PMI
for
Mortgage
Life
Insurance.
The
names
are
very
similar,
but
actually
insure
insure
two
completely
different
things.
PMI
on
your
loan
is
Private
Mortgage
Insurance
to
indemnify
your
Lender
should
you
fail
to
make
your
mortgage
payments
as
agreed.
PMI
helps
you
into
home
ownership
with
little,
or
no
money
down.
It
is
usually
required
by
your
lender
if
the
loan
on
your
home
will
exceed
80%
of
the
appraised
value.
It
does
not
prevent
the
loss
of
your
home
from
foreclosure
and
does
not
pay
off
your
mortgage
in
the
event
of
your
death
or
disability.
Government
Home
Guaranty
services
like
VA
Loan
programs,
or
FHA
loan
programs
are
also
"insurance"
programs
that
help
you
into
home
ownership
with
little,
or
no
money
down,
by
indemnifying
the
lender.
They
do
not
protect
against
the
loss
of
the
home
when
the
loan
cannot
be
repaid
because
of
the
death,
or
disability
of
the
homeowner.
Q.
What
is
the
chance
my
premature
death,
or
disability
could
cause
my
family
to
lose
their
home
through
foreclosure?
A:
Each
year
in
the
United
States,
approximately
70%
of
all
foreclosures
and
85%
of
all
forced
Home
Sales
are
due
to
the
death,
or
long term
disability
of
the
primary
family
wage
earner.
*
source
Mortgage
Bankers
Quarterly
No Medical Exam is required For Amounts up to $250,000 however,
if you are in good health, by taking a medical exam you may be able to qualify
for a substantially lower premium rate.
Policies in excess of $250,000 require an Insurance Physical Exam be completed
prior to issue. The medical exam is at no cost to the applicant and can usually be
completed by a nurse, or paramedic at your office, or residence.
Level Term Life Insurance
makes The best Mortgage insurance
Sleep better Insured . . . .
Live better with lower premiums
Request a Custom Level Term Life Insurance Quote
This plan has an exceptionally good rate for Smokers who are in good health. An agent assisted online application over the telephone is required.
Policy amounts greater than $250,000 require an insurance physical along with a signed paper application prior to issue.
