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Life Insurance: How To Buy Despite A Health History

Mortgage Life Insurance

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If you are currently considering purchasing property or a home, you may wish to explore the possibility of obtaining life insurance on the mortgage. Although this kind of insurance varies from company to company and state to state, you may be able to find a policy with less questions about your health condition than for a traditional life insurance policy.

Mortgage life insurance is a type of credit life insurance: the death benefit varies according to the amount of the debt outstanding. If the insured dies while the policy is in effect, the debt is paid off. There is no extra cash for a beneficiary.

Note: If you find that you don’t qualify for mortgage life insurance after reviewing the application, it is preferable to indicate that you have decided not to apply, rather than state that you don’t qualify.

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