August 20, 2010, Newsletter Issue #30: The Difference Between Mortgage Term Insurance and Whole Life Insurance

Tip of the Week

Mortgage Term Insurance is different from a whole life policy in many ways, and it's important to understand their differences before you purchase Mortgage Term Insurance.

Whole life (also called permanent insurance) is a policy that's approved to provide a death benefit payable over your entire life. Because the coverage extends over your entire life, it's more expensive than Mortgage Term Insurance. Whole life also has a cash accumulation feature that requires the payment of additional premiums.

While it might seem nice to have a policy that doesn’t expire after 10, 20, or 30 years, you must consider the fact that you're locked into that policy and that death benefit for the rest of your life. Mortgage Term Insurance offers much greater flexibility. With its inexpensive cost of insurance, term periods that are perfect to cover your mortgage debt, and the ability to convert some policies at a later date, Mortgage Term Insurance offers a much more reasonable insurance solution.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Exclusive Sponsor

TermAdvantage.com shops over 2,000 mortgage insurance companies, so you can protect your home & family for LESS. Since every company has a different underwriting niche, we have to ask you FIVE questions to make sure that we put you with the BEST-PRICED company for your specific health situation. Since all of the Web sites out there just CAN NOT & DO NOT give EXACT quotes, please call 888-360-TERM to receive an EXACT quote, and find out who's the BEST-PRICED company for you.

Not finding the advice and tips you need on this Mortgage Protection Insurance Tip Site? Request a Tip Now!


Guru Spotlight
Sherril Steele-Carlin