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Home » Discuss » Archives » General Discussion (01/01/06 through 01/22/2007) |
Holly_Hobby (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:41 PM Original message |
Mortgage death insurance, anyone? |
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Roland99 (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:42 PM Response to Original message |
1. Does that build up value like a life insurance policy? |
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Sadie5 (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:46 PM Response to Reply #1 |
5. Sounds like a rip off |
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Holly_Hobby (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:50 PM Response to Reply #5 |
10. We have regular, whole life insurance too n/t |
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Holly_Hobby (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:49 PM Response to Reply #1 |
8. Our mortgage is paid in full in the event one of us dies |
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angstlessk (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:45 PM Response to Original message |
2. Get decreasing term insurance to cover the value of your mortgage |
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Holly_Hobby (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:51 PM Response to Reply #2 |
11. Ok....a five year term policy would work for us - thanks n/t |
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wuushew (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:45 PM Response to Original message |
3. What is the balance left on the mortgage? |
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Holly_Hobby (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:52 PM Response to Reply #3 |
13. Around $18,000 |
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Marie26 (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:45 PM Response to Original message |
4. It actually protects the bank |
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Holly_Hobby (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:55 PM Response to Reply #4 |
15. We did, when we bought our house |
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Marie26 (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 05:02 PM Response to Reply #15 |
21. Honestly, |
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Swede (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:46 PM Response to Original message |
6. Can't you just get a term policy |
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Holly_Hobby (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:55 PM Response to Reply #6 |
16. Excellent idea, thanks! n/t |
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sharp_stick (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:47 PM Response to Original message |
7. I'd look for other forms of insurance |
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EvolveOrConvolve (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:50 PM Response to Original message |
9. Mortgage Death Insurance is usually not worthwhile |
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Holly_Hobby (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:57 PM Response to Reply #9 |
18. We had no advice when we bought a house, so |
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EvolveOrConvolve (1000+ posts) Send PM | Profile | Ignore | Tue Dec-19-06 09:42 AM Response to Reply #18 |
25. It wasn't necessarily bad advice |
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NewJeffCT (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:52 PM Response to Original message |
12. Are you required to have Mortgage Insurance? |
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Holly_Hobby (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:58 PM Response to Reply #12 |
19. No, it's not required |
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On the Road (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 05:21 PM Response to Reply #12 |
24. This Sounds Different from PMI (which protects the lender) |
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napi21 (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:54 PM Response to Original message |
14. Mortgage death insurance has always been a scam. |
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bluerum (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 04:56 PM Response to Original message |
17. You don't need it. Sometimes banks require it when you first take |
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Holly_Hobby (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 05:00 PM Response to Reply #17 |
20. Yes, we have whole life policies too |
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Swede (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 05:07 PM Response to Reply #20 |
22. Re-read your policy. |
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flamin lib (1000+ posts) Send PM | Profile | Ignore | Mon Dec-18-06 05:14 PM Response to Original message |
23. This is known as Credit Life Insurance. IMO it is a poor way to |
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