Whether you have an existing mortgage or you purchase a new home, a basic Term life insurance policy will protect you much better than a "Mortgage" Term life insurance policy.

Take the time to compare quotes between Straight Term life insurance and the traditional Mortgage life insurance. We think you will find a better price with the Straight term life insurance.

Lets take a look at the differences between the two.
A mortgage life insurance policy has one single purpose. To pay off the balance due on your mortgage to the lender should you die. What makes a Straight term life insurance policy a better choice when it comes to protecting your home?

First of all, a Term life insurance policy is less expensive than mortgage life insurance. A Straight term life insurance policy allows you to set the length of your policy to match the length of your mortgage.

As far as cost goes. A healthy man, ages 30 - 40 could get a $250, 000 policy for less than $30 per month. A female, same age range and in good health could get the same policy for under $25 per month.

A Term life insurance policy can even benefit you more then just paying off your mortgage. A mortgage life insurance policy will cover your remaining mortgage only. A Term life insurance policy is just a smarter choice. Less expensive and gives you more flexability with your policy.

Remember, with a cheap term life insurance quote, you set the length of your policy. You choose where the money ends up. Naturally, with your beneficiaries. Not the financial institution that holds your mortgage. Your loved ones may need that money for burial expenses, debts, medical bills, etc. Wouldn't you rather have that?

The (NAIC) has shown that the 'lenders' of a Mortgage life insurance policy pay out only about 40% of what you pay in. Unlike a Term life policy which pays out 90% of what you pay in.

It is estimated that 40% of the population in this country have no life insurance. Another, 50, 000, 000 do not have as much life insurance as they should have or need.And 25% of people who die prematurely, have no life insurance to cover their mortgage. That is why it is so important to have this extra coverage.

The last thing anyone wants to do is leave loved ones behind in severe financial stress, especially when you can find a cheap life insurance quote so easily.