| In this article we will discuss one use of Term | | | | replace the $25,000 policy they already have? That |
| Insurance and that is Mortgage Protection. This can be | | | | depends on their situation. How much money can they |
| a very useful tool in any homeowner's toolbox. | | | | afford to pay for premiums?, etc... it is hard to say, that |
| Meet Jack and Ruth | | | | is a choice they would have to make and sit down |
| Jack and Ruth have just purchased a home at a great | | | | and budget if they can afford paying for both or just |
| deal here in Florida for $80,000. They are very excited, | | | | replace it. |
| Jack is 30 and Ruth is 29. This sounds like their lives | | | | So let's just say they opt to keep what they have and |
| are right on track to start a family and have a happy | | | | add the Mortgage Protection Insurance to what they |
| life together. But what would happen to Ruth if Jack | | | | have. They shop around and find a good price and call |
| dies in 5 or 10 years? Do they have enough money | | | | for an agent to meet with them and discuss their |
| put back so that Ruth can live a comfortable life taking | | | | options. One very important addition they can add to |
| care of the kids and be able to keep their wonderful | | | | the Mortgage Protection is a Rider. The name of this |
| home? | | | | Rider is "Return of Premium Rider". What this does is |
| These are questions that many people do not think | | | | say Jack and Ruth decide to purchase 20 years of |
| about, especially after they just bought their home. But | | | | Protection, and they add this Rider, at the end of the |
| this is something they should think about. Let's say that | | | | 20 years instead of paying all that money for 20 years |
| Jack and Ruth were smart when they got married | | | | and getting nothing back, they will get a nice big check |
| and Jack took out a $25,000 life insurance policy on | | | | from the insurance company for ALL OF THE |
| both of them. They both wanted to leave each one | | | | MONEY THEY PAID FOR PREMIUMS! Sounds great |
| enough money for a funeral and some money to buy | | | | doesn't it? Get the protection your family will need, and |
| a little bit of time to get all the financial matters straight. | | | | if nothing happens no problem you just get all your |
| That is great! But, is $25,000 enough to pay for a | | | | money back at the end of the policy date. |
| funeral, and, pay off the home they just bought for | | | | Many people now forget to think about protection. This |
| $80,000? No, it will never come close! So what can | | | | can be extremely helpful for anyone who has just |
| they do? | | | | bought a home. And if you decide you need it, you can |
| Mortgage Protection | | | | add the Return of Premium Rider to the policy and get |
| How this would work is purchase Mortgage Protection | | | | all your money back if you never use it. Our lives are |
| Insurance, all Mortgage Protection Insurance is, is a | | | | always changing, never think because you purchased |
| Term Life Insurance Policy for the amount they need | | | | a policy 10 years ago that it will give you the help you |
| to cover the Mortgage they have on their home. So in | | | | need now. If you need someone to stop by and look |
| the case of Jack and Ruth they would need a | | | | over what you have now to protection your family I |
| $80,000 life insurance policy in Jack's name. But why | | | | will be more than happy to review your policy for free. |
| Jack? Well the life expectancy for men is much lower | | | | To make sure you and your family get what you need |
| than for women. That is why life insurance is cheaper | | | | when it matters the most. |
| for woman than men. Now would it be smart to | | | | |