WHAT TYPE OF MORTGAGE INSURANCE DO I NEED TO SAVE PARENTS HOME.
Posted in Mortgage Protection Life Insurance over 2 years ago, 4 replies
submitted by 79 BRONC in FL, USA
Life insurance.
submitted by Andrew Burks in Salem, IN
@ March 30, 2009 - 11:01 AM
Reply
Mortgage protection insurance.
You should think about getting Mortgage Protection which is the same thing as Term Life Insurance just a differnt name to try to sell it to homeowners. Get a term life polciy on both parents that equal the amount owed on home. If they owe $100K get one for about $100K and for the amount of time left on the mortgage. If they have owned the property for 10 years and it was a 30 year mortgage get a 20 year term. The raeson for getting it on both parenst is because you don't know who is going to pass away first and the surving spouse could need help with mortgage too. hope I'm not to late with answer.
If your parents have other assets they should consider life insurance. Are they healthy? There is not enough information to give you a complete answer. john... You can reach me for discussion if you like via my web address.
john@johndelaneyinsurance.com
john@johndelaneyinsurance.com
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