Mortgage Insurance
- Thread starter Atavae
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Mortgage insurance? Are you talking about mortgage insurance that lenders want you to pay for in case you default on the mortgage or mortgage insurance that pays off the loan when the borrower dies?
If the latter there are probably hundreds, maybe thousands, of life insurance companies that sell a level premium decreasing term policy where the death benefit decreases along with the balance of the loan.
If the latter there are probably hundreds, maybe thousands, of life insurance companies that sell a level premium decreasing term policy where the death benefit decreases along with the balance of the loan.
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- #3
Yea I was looking at different companies like symmetry and Equis but found out they are just glorified mom companies. I am looking at Family First Life. I do not know if it is an mom??? I would like to find a company to do mortgage and final expense insurance for that is not an mom.
- 24,937
would you name a few of those companies please
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- #5
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- #6
Oh you were talking to adjuster Jack. Sorry.hey adjuster Jack I am with dino could you name a few of those please that are not an m l m . Telling us there are hundreds does not help us research them it is like throwing someone in the library and telling them to find a toothpick it is very difficult.
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- #8
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@adjusterjack - We rarely deal with PMI where the lender is the beneficiary for taking out mortgages with greater than 80% LTV.
This is a decent list of all the insurance companies nationwide: Comprehensive List of Life Insurance Companies in 2018
Btw, "mortgage insurance" is just a marketing term, although it's normally associated with level term without a medical exam.
It's just life insurance for the death benefit to cover the repayment of the mortgage. If you do a cash value plan, you could have the plan pay off the mortgage whether you (1) pass away, (2), become disabled through disability waiver of premium to pay the premiums to eventually pay off the mortgage early, (3) if you live long enough for the cash values to pay off the mortgage.
This is a decent list of all the insurance companies nationwide: Comprehensive List of Life Insurance Companies in 2018
Btw, "mortgage insurance" is just a marketing term, although it's normally associated with level term without a medical exam.
It's just life insurance for the death benefit to cover the repayment of the mortgage. If you do a cash value plan, you could have the plan pay off the mortgage whether you (1) pass away, (2), become disabled through disability waiver of premium to pay the premiums to eventually pay off the mortgage early, (3) if you live long enough for the cash values to pay off the mortgage.
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