Sentences with phrase «traditional mortgage protection insurance policies»

Not exact matches

If you still have major expenses like a mortgage or student loans, then you'll need to apply for a traditional policy that gives more insurance protection.

Mortgage protection insurance policies are typically limited compared to traditional life insurance policies in regards to term lengths, death benefit amounts, and other factors, and don't offer any real benefits over a more affordable term life insurance policy.

Because mortgage protection insurance limits the term length of policies to better match with mortgage terms, you won't have the flexibility of a traditional term life insurance policy.

By using a traditional life insurance policy in place of a mortgage protection life insurance, a person's beneficiary may be better able to effectively use the benefit amount.

Generally, having separate mortgage protection life insurance and traditional life insurance will cost more than a traditional life insurance policy of the same total benefit amount.

Mortgage protection life insurance works like a traditional life insurance policy, except that the insurance company pays the death benefit directly to the mortgage lender to pay off the mMortgage protection life insurance works like a traditional life insurance policy, except that the insurance company pays the death benefit directly to the mortgage lender to pay off the mmortgage lender to pay off the mortgagemortgage.

Unlike traditional life insurance policies, a person's spouse or other heirs have no choice about how to spend the benefit from a mortgage protection life insurance policy.