Mortgage Life Insurance

Mortgage life insurance is one of the most important life insurance policies a person who owns a home can buy. Since the ownership of this home is probably the largest investment for most people it is imperative that your investment be protected in the event of premature death. I want to take some time to discuss alternative plans that can be used to do this.

Mortgage Life Insurance

What really is mortgage life insurance. Mortgage life insurance pays off the balance owed to the bank or mortgage company in case of your premature death. Let us assume you have a $100,000 25 year mortgage on your house. Let us also assume that after 5 years you have a balance owed of $95,000. Incidentally that figure is not as impractical as it sounds. Your principal decreases very slowly in the early years. Back to our discussion; You now believe you should take out some mortgage life insurance because you now have a new baby. What you need is a 20 year decreasing term policy which would usually be sufficient if you should die anywhere within the mortgage period. That is what mortgage life insurance is all about.

Some people add the waiver of premium benefit in case they should become disabled for at least 6 months the life insurance company will pay the premium for them. As an alternative to the decreasing term policy some policy owners use a 20 year term policy. If that person should die when there is only $50,000 owed for example, they have a little extra to put in the pockets of the beneficiary. $50,000 to the bank and the other $50,000 to the beneficiary. There is another alternative if you have some cash to play with.

Mortgage Redemption And Cancellation Insurance
Here is how this works. Let us use the above situation as an example. You are at the 5 year point just like in the mortgage life insurance example. What you do is buy a whole life or variable life insurance policy for $95,000, which is the amount owed on the mortgage. You are putting out a lot more premium but if this works right you will be happy about your decision. If you die before the mortgage is paid off the insurance policy will pay it off. Remember your whole life or variable life policy accumulates cash value. There are no guarantees, but at some time between the 5 year point and the 25 year point the cash value of your policy will be equal to the amount owed on the mortgage. You can cash out the policy or take a loan on it and pay off the balance of the mortgage. You would have redeemed your mortgage. You now own your house free and clear. Now is that not a great idea?

Also Read:
Disability Insurance
Travel Insurance Benefits
Property Insurance
Private Mortgage Insurance.

100% Mortgage Financing

100% Mortgage Financing : Ideally, traditional mortgage lenders want new homebuyers to have a 20% down payment when purchasing a new home. Thus, if purchasing a $200,000 home, you should be prepared to have $40,000 as a down payment.

Unfortunately, many people do not have this kind of money lying around. For this matter, private 100% Mortgage Financing insurance (PMI) was created as a way for mortgage companies to recoup their money if a homeowner defaults on the loan. There are various loans available to assist people with down payments. In some instances, homeowners can obtain 100% financing, and avoid PMI

What is Private 100% Mortgage Financing Insurance?

Because Americans are earning less money, and home prices are steadily increasing, the majority of the population is unable to save the recommended down payment of 20%. In order to make owning a home possible, 100% Mortgage Financing companies created a particular mortgage insurance, (PMI), for people with less than 20% to put down on a home. This insurance protects the lender if you default on the mortgage.

How to Avoid Paying Private 100% Mortgage Financing Insurance

On average, PMI may increase your mortgage payment by $100 – sometimes less, sometimes more. However, there are ways to avoid paying this additional insurance. The obvious involves having at least 20% as a down payment. If this is not an option, homeowner may agree to a higher interest rate. Another tactic entails getting approved for 100% financing.

How Does 100% Mortgage Financing Work?

100% mortgage financing makes it possible to buy a home with no money down. Also referred to as a piggyback loan or 80/20 mortgage loan, 100% mortgage financing involves obtaining a first mortgage for 80% of the home cost, and a second mortgage, or home equity loan, for 20% of the home cost. Together, the first and second mortgage allows a home purchase with no money down, and no private 100% Mortgage Financing insurance.

 

Also Read:
Private Mortgage Insurance.

Online Car Insurance Quotes Offer The Cheapest Premiums

Online car

insurance quotes

offer the cheapest premiums to be found and of course if you go to a specialist website and allow them to look around on your behalf then you can get the lowest quotes to be found online in the shortest time possible.

Of course there are many exclusions in all types of Insurance Quotes and it is essential that you read the small print of any policy and know what you are buying and what is covered by a policy. The biggest advantage to going online with a specialist is that you will have access to all the facts and information which can help you to decide which type of Insurance Quotes is right for your needs, along with getting the cheapest online car

insurance quotes

possible.

If you want to insure a brand new car then you won’t have any other option but to take out fully comprehensive car Insurance Quotes. Fully comprehensive as the name suggests gives you the most cover and will protect your car and the other party’s car if you should suffer an accident which is your fault or the other party’s. If you have an older car to insure then third party fire and theft might be a better choice, it doesn’t cost as much for this Insurance Quotes but it will only pay out to repair the other party’s car if you should be an accident and of course protects against fire and theft. Third party only will cover the other party’s car if you are the cause of an accident but it won’t cover repairs to your own car but is the very cheapest way to insure your car.

Whichever form of Insurance Quotes you choose to take online car

insurance quotes

are the cheapest way to buy your car Insurance Quotes and of course you can be assured of getting access to all the information needed to choose the right policy.

Also Read:
The Secret To To Getting Cheap Car Insurance In NC.

Car Insurance For Women

According to statistics, female drivers on average do things a bit differently than male drivers, such as:

• Drive safer cars
• Drive less expensive cars
• Drive cars modest in appearance
• Receive fewer traffic citations
• File fewer car insurance claims

These are the reasons females tend to get Car Insurance For Women. This is not to say all females drive safer cars than males, or that all males receive more traffic citations than females. These are just statistics; however, they are statistics many car insurance companies take into consideration when offering a car insurance policy to a potential customer. Therefore, females usually get Car Insurance For Women policies, while males tend to pay more for their policies.

All hope of getting Car Insurance For Women for males is not lost. Males simply need to take these statistics into consideration and make any necessary changes by,

• Purchasing a safer car, you are less likely to injure yourself, your passengers, other drivers, and pedestrians in the event of an accident.
• Purchasing a less expensive car, you are less likely to pay expensive repair costs.
• Purchasing a car modest in appearance, your car is less likely to be stolen or burglarized.
• Paying closer attention to your driving habits and the rules of the roads, you are less likely to get as many traffic citations, and less likely to be in any accidents that would involve filing an insurance claim.

According to statistics, these may not be normal car shopping and driving behaviors for male drivers, so if you are a male driver who has made these changes, or already follows these kinds of car shopping and driving behaviors, make sure to let your car insurance company know. You could be missing out on Car Insurance For Women simply you have added to your car.

Remember, just because you aren’t a female does not mean you can’t get Car Insurance For Women.

Also Read:
Cheap Insurance Secrets.

Very Cheap Car Insurance

It is important to shop for Very Cheap Car Insurance in New Jersey whenever you rent a car. If you rent a car in New Jersey, the car is not yours; it is only in your possession for a certain period of time. That means you can not put off repairing damages to the car until you can afford it. Rental car insurance is important.

One way to get Very Cheap Car Insurance for rental cars in New Jersey is to pay the car rental agency’s collision damage waiver (CDW), loss damage waiver (LDW), liability insurance supplement (LIS), personal accident insurance (PAI), and personal effects coverage (PEC). These types of rental car insurance which will protect the rental car, your personal belongings, your person, and your bank account against damages acquired while the rental car is in your possession.

Yet, depending on how long you have the rental car, these insurance coverages can add up on your final bill, turning Very Cheap Car Insurance to expensive car insurance. Therefore, you should check into other ways of obtaining Very Cheap Car Insurance in New Jersey for your rental car.

If you already have Very Cheap Car Insurance for the vehicle you own, it may or may not cover rental cars – ask. If you do not own a vehicle, and therefore do not have a car insurance policy, you should look into temporary car insurance policies for rental cars in New Jersey. Yet, some car insurance policies do cover rental cars, or allow you to choose the option of insuring rental cars. You may even be able to choose that option for the specified amount of time you will have the New Jersey rental car.

Another option for obtaining Very Cheap Car Insurance in New Jersey for your rental car is to use your credit card to pay for the rental. Many credit card companies offer these kinds of insurance services for special purchases such as renting a car.

Also Read:
How To Get Cheap Health Insurance Online In Florida.

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