September 10, 2010, Newsletter Issue #33: Insurance Replacement

Tip of the Week

Sometimes, the mortgage protection policy you bought a decade ago just doesn’t suit your needs any longer. Maybe the death benefit is too high or too low, maybe you’ve lost weight or become healthier since that time, or maybe you didn’t shop around enough and are now stuck with Mortgage Protection Costs that are unreasonable. If this happens to you, you may decide to replace your policy with another. If you do, depending on the state you live in, you may have some additional paperwork to fill out.

In general, because Mortgage Protection Costs rise as you age, replacing policies is often not a good idea. It's harder to get a better deal at a later date, and contestability periods start over again when you buy a new policy, which could put you in a delicate position. Insurance companies and state regulators want to make sure that you understand all the pros and cons of replacement and, in order to do so, they sometimes require you to complete a replacement form.

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.