What Companies Still Offer “actual” Mortgage Life Insurance ...

by admin

Primerica is a company that offers decreasing term insurance. This is what you would call mortgage insurance. But you would have to qualify for health questions. Think about it, you are looking at a large amount of money. The co. wants to be sure that they pay out as little as possible. They want healthier individuals to be policy owners. So, you are looking for decreasing term insurance. Look in your yellow pages for Primerica.

I know exactly what you are talking about… Here’s the thing…. Usually this type of policy is taken out at the time you fund your mortgage. The policy is a shared “survivorship” policy where the death benefit reduces with the principle amount of your mortgage…all the while the insurance premium stays the same. Upon death of one or both spouses, the mortgage is paid off. Pretty simple. For most people, this type of insurance is more expensive and less effective because the death benefit reduces. BUT…if you have poor heatlh and have been turned down for other types of life insurance, you can still get this. It may be more expensive, but it will CYA…. The biggest difference between the life insurace these other yahoos are describing and “true” Mortgage Life Insurance” is that it is GUARANTEE ISSUE. Okay, so you already knew all of that; which is why you asked the question in the first place… This was for the other retards that refer to themselves as financial planners…like the idiot saying that Mortgage companies cannot issue insurance and vise versa…I wonder if her ever heard of Counrtywide, Chase, or CitiCorp for starters? IDIOT. I hate these CFP that think they know what the heck they are saying because they passed a silly test. The bad news is that if you already have your mortgage…it may be too late. The aforementioned companies issue at funding. Considering you already asked your lender/servicer and struck out…I would try...

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