im looking for some insurance that will mean if either my fiancee or i die our house will be paid off in full (this way our kids have a home) im still quite young (38) any one know any good companys to get a quote with?
2007-10-24 08:44:04 · 16 answers · asked by atc,uk 2 in Business & Finance ➔ Insurance
OK, this is plain old life insurance.
Your best bet is to go to the guy that writes the house insurance, and get quotes for life insurance. YOu probably want term, as eventually that mortgage is going to get paid off, anyway, and then the "goal" disappears.
2007-10-24 08:47:24 · answer #1 · answered by Anonymous 7 · 1⤊ 0⤋
Home insurance - yes , home warranty - the seller should pay for, mortgage insurance will be taken care of through the lender since it is part of your payment. I am not too sure about the 3 insurances you have on your older place though, because I don't know what you are talking about. If you are renting, you should only have rental insurance.
2016-05-25 13:24:46 · answer #2 · answered by ? 3 · 0⤊ 0⤋
I might suggest one to try this internet site where onel can compare quotes from the best companies: http://cheap-insure.info/index.html?src=3YAiopyEy9s7f
RE :Home insurance?
im looking for some insurance that will mean if either my fiancee or i die our house will be paid off in full (this way our kids have a home) im still quite young (38) any one know any good companys to get a quote with?
Follow 16 answers
2016-11-28 15:48:29 · answer #3 · answered by ? 6 · 0⤊ 0⤋
What you are asking about is called decreasing term insurance. You begin at a fixed amount, and every payment decreases the amount your heirs would get upon your death. Thus, nearing the end of the term for which it runs, the insurance becomes worthless or near worthless if you are still alive.
It is better to just buy a level term policy for as many years as possible. This way it covers your whole family, and the payout does not decrease during your life or afterwards.
2007-10-24 10:27:32 · answer #4 · answered by Mr. Prefect 6 · 0⤊ 0⤋
You described life insurance. You should play a few life agents against each other. A little friendly competition usually turns out better for you.
You also need to meet with a lawyer to get a trust set up for your children. This way the trustee would be legally charged with taking care of your children if BOTH you and your wife pass away.
2007-10-24 09:40:15 · answer #5 · answered by aaron p 5 · 0⤊ 0⤋
You simply need to purchase a low cost term life insurance policy for an amount sufficient to pay off this mortage in the event of either of your deaths. Shop around online for term life insurance.
The mortgage insurance of which you speak is nothing more than a term life policy with a slowly declining pay off benefit, matched to the amount outstanding on your mortgage.
Generally this type of insurance is more costly than is a comparable standard term life policy.
2007-10-24 09:45:23 · answer #6 · answered by acermill 7 · 0⤊ 0⤋
That isn't home insurance. You are looking for mortgage life insurance. Home insurance is based on your home. The insurance you are looking for is a declining balance coverage based on actuarial probabilities for you and your spouse, assuming you are both on the mortgage. Start with your mortgage issuer, and talk to the life insurance department of your home insurance company. As an insurance broker, I insured homes. I had a contact in one of my companies that would write a policy as you desire, but nobody in our office handled it.
2007-10-24 09:26:08 · answer #7 · answered by Fred C 7 · 0⤊ 0⤋
Get and compare quotes from different companies at - INSURERATESME.INFO-
RE Home insurance?
im looking for some insurance that will mean if either my fiancee or i die our house will be paid off in full (this way our kids have a home) im still quite young (38) any one know any good companys to get a quote with?
2014-09-08 12:06:47 · answer #8 · answered by ? 1 · 0⤊ 0⤋
For free insurance quotes
2014-12-31 21:21:20 · answer #9 · answered by ? 1 · 0⤊ 0⤋
That is not home insurance, that is life insurance.
2007-10-24 08:51:10 · answer #10 · answered by Anonymous · 0⤊ 0⤋