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When You Buy A Home, Please Buy Life Insurance

Our advice is based on experience in the mortgage industry and we are dedicated to helping you achieve your goal of owning a home. We may receive compensation from partner banks when you view mortgage rates listed on our website.

If you own a home, protect yourself with life insurance. 

Life insurance is an insurance policy that pays cash when the policy holder dies. Payouts range from $50,000 to five million.

Your life insurance policy should be at least as large as your mortgage because death is a leading cause for foreclosure. A proper life insurance policy will pay off your home, and keep your loved ones in-place.

Life insurance policies are inexpensive, too

For less than $40 per month, you can get an insurance policy that pays off your mortgage balance and leaves money left over to help reach additional financial goals:

  • Build a complete education fund for your children
  • Fund a retirement portfolio for your spouse or parents
  • Make a philanthropic contribution to a cherished organization

You can also use life insurance to establish a trust, which preserves a family’s assets and protects it from taxes.

Life insurance ensures that households remain intact. It staves off loss of income, bankruptcy, and loss of home. It’s not even dramatic to say your family’s future depends on it.

Homebuyer can help you decide how much life insurance to get. Use the chat and ask us your question.

Get pre-approved for a mortgage today.

Dan Green
Dan Green

Dan Green is a former mortgage loan officer and an industry expert. He's appeared on NPR and CNBC, and in The Wall Street Journal, Bloomberg, and dozens of local newspapers. Dan has helped millions of first-time home buyers get educated on mortgages, real estate, and personal finance. Have mortgage questions? Ask Dan in the chat.

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