Decreasing Term Life policies

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Mon Oct 20, 2008 9:23 am   Post subject: Decreasing Term Life policies  

Hi!

Are all the mortgage insurance policies actually decreasing term life policies? Is credit life insurance similar to that of the Mortgage life insurance?

Mermaid-attitude


_________________
Register Now to have your Insurance queries solved.
Mermaid-attitude
Guest







PostPosted: Mon Oct 20, 2008 9:47 am   Post subject:   

I believe they are one in the same and a HUGE rip off (IMO)



_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.93 Dollars($)

PostPosted: Mon Oct 20, 2008 10:10 am   Post subject:   

Quote:
Are all the mortgage insurance policies actually decreasing term life policies?




Not necessarily, depending upon your requirement you may choose a level term life policy in which the death benefit will remain same for the entire term of the plan or may choose the decreasing term life plan where the coverage level will adjust accordingly with repayment of the mortgage loan.
jeorge
Senior member
Leave a quick message

jeorge

Joined: 07 Oct 2005
Posts: 798


132.87 Dollars($)

PostPosted: Mon Oct 20, 2008 10:23 am   Post subject:   

Hey jeorge I'd like to differ with you in this ground. The mortgage life insurance is a form of decreasing term life policy where the policy coverage declines with the mortgage outstanding amount.



Incase of mortgage life policy the coverage level is initially equivalent to the mortgage amount of the applicant. It then gradually decreases as the policy holder continues repaying the mortgage loan.



Hope it helps.



~Jeremy

JeremyHolter
Senior member
Leave a quick message

Jeremy Holter

Joined: 06 Jun 2007
Posts: 1185


210.40 Dollars($)

PostPosted: Mon Oct 20, 2008 1:22 pm   Post subject:   

Quote:
Is credit life insurance similar to that of the Mortgage life insurance?




A credit life insurance policy would reimburse for debts under circumstances when the policy holder passes away or becomes disabled. Such debts could arise out of auto loans, assets etc. It is certainly one kind of decreasing term policy.Thus, you see my friend how this insurance could cover a lender from a debtor. Yes, it might just seem quite similar to that of the mortgage life insurance, but remember that they are certainly not the same. Whenever you're out to cover huge financial objects you'd be provided with such policies.

Roddick
roddick
Senior member
Leave a quick message

roddick

Joined: 05 Oct 2005
Posts: 957


143.28 Dollars($)

PostPosted: Mon Oct 20, 2008 1:28 pm   Post subject:   

Mortgage insurance is a huge rip-off. The value of your policy decreases equally to the value of home mortgage - all while the premium each year stays the same.



Bad. Boo..hiss...



Why not just buy a regular 30 year term?



_________________

Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller
LifeIsGood
Senior member
Leave a quick message

LifeIsGood

Joined: 22 Sep 2008
Posts: 574


1.31 Dollars($)

PostPosted: Mon Oct 20, 2008 1:30 pm   Post subject:   

Hi,



Yes, there is quite a possibility that you'd obtain such coverage in the event you cover a larger cause. You'd need to sign an agreement of loan with the carrier. Your premiums would accumulate upon this loan agreement. Even though it is your choice, remember that it may prove a bit costly. Under many occasions it is not lawful for a lender to force you to go for such coverage..but then its your choice after all! Crossbreed


_________________
Register Now to have your Insurance queries solved.
Crossbreed
Guest







PostPosted: Mon Oct 20, 2008 1:35 pm   Post subject:   

Well my friend, I'd never advice you to go for Credit life insurance if possess a good life insurance already (especially one that supports your financial requirements). I mean- you'd need to make sure whether it already meets your debt repayment need.If it does..I see no reason why you should go for such expensive coverage!

Plasticmind


_________________
Register Now to have your Insurance queries solved.
Plasticmind
Guest







PostPosted: Mon Oct 20, 2008 1:44 pm   Post subject:   

Yes my friend..you're quite right when you say..

Quote:
Incase of mortgage life policy the coverage level is initially equivalent to the mortgage amount of the applicant.


I'd agree to the fact that the death benefit would initially remain at par with your present mortgage balance. Thereafter it would start falling at par with your mortgage balance fall. when the face value gets to 'nil' the coverage would cease to exist. But yeah, the cost would remain stable for the entire term. Purpleheaded08

_________________
Register Now to have your Insurance queries solved.
Purpleheaded08
Guest







PostPosted: Tue Oct 21, 2008 7:43 am   Post subject:   

Quote:
Mortgage insurance is a huge rip-off. The value of your policy decreases equally to the value of home mortgage - all while the premium each year stays the same.



Bad. Boo..hiss...



Why not just buy a regular 30 year term?





Yeah LifeIsGood is right. Buy a regular term insurance for you to have full coverage.
joven222
Senior member
Leave a quick message



Joined: 12 Jan 2007
Posts: 239


8.16 Dollars($)

PostPosted: Wed Oct 22, 2008 2:45 am   Post subject:   

Mortgage insurance policies may differ. Meaning there are different types of life insurance plans available to provide coverage if you pass away, leaving your beneficiary with funds to pay off your outstanding mortgage loan.



Deceasing term life insurance is one type of cover used to provide insurance to pay off your mortgage. Decreasing term provides a coverage amount that declines each year in line with your declining mortgage. The length of the decreasing term policy would be the length of your mortgage loan, for example 20 or 30 years. The premiums remain the same each year for the policy, while the coverage decreases.



Level term life insurance is another option that provides level premiums and coverage throughout the entire term of your policy. This would provide additional funds for your beneficiary beyond the outstanding mortgage amount.



Credit life insurance is insurance issued to a creditor (lendor) to cover the life of a debtor (borrower) for an outstanding loan. If the debtor dies prior to repayment of the debt, the policy will pay off the balance of the amount outstanding. Credit life insurance is usually purchased to cover small loans of short duration.



_________________

Visit Term Life Online to learn about life insurance and how to buy life insurance with no exam.
Hadley
Member
Leave a quick message



Joined: 25 Oct 2007
Posts: 87


32.89 Dollars($)

PostPosted: Sun Sep 01, 2019 5:17 am   Post subject: russian mail order brides  

russian women shamed to produce sport pin social test the limits



MOSCOW a huge number of overseas men have stuffed directly russia that will monthlong galaxy wine glass, triggering a brutal hot debate inside the organizer state the actual jobs and as a result the law of ladies.



euro women who have went out with the entire baseball spectators are being shamed that by these commentators, Denounced because allegedly undermining the morals and additionally gene share.



the particular general, Vehement self deprecation has revealed my prominence pertaining to patriarchal as well russian women sexist vistas in italy, Where the method of gender selection equal rights is a really creation on the rear of that surrounding the rest of the world the reaction upon russian women united states cup of coffee dalliances is it being so sound that several feminists in Russia hope it might probably the truth is advance a root cause of a big surprise maybe even subdued ladies who wouldn recognize their own as feminists.



A 27 year old Moscow beauty consultant approved Mariam appeared to be someone who droped for an overseas visitor to your site, A philippine soccer blower dubbed Omar what individuals instructed your girl's pertaining to directions within red wines sq,rectangular.



was so selection in addition well intentioned in my experience, your darling rumoured. due to this that lost his balance gets interested the boy. doesn't leave her with continue performing moniker the fact that your lover had to talk about all swoon was a personal topic.



nevertheless many Russians, your darling habits look and feel disgraceful.



Is a time of sluts! said Platon Besedin, A columnist that will Moskovsky Komsomolets journal. female happen to be providing embarrassment to themselves plus personal kingdom. very popular place concerning VKontakte social your media software has already listed hundreds of coaching of euro women of all ages boogie with the kiss overseas football addicts, motivating vehement condemnations of the people alleged to be the gene pool area. The first week of the global soccer competition, european lawmaker Tamara Pletnyova cautioned teens opposing starting a career as amorously involved with visitors, Lest utilized inevitably be pulling their children on his own. your ex greater it was even more of problems in case boys had from unique drive.



Belgium sports fan responds because they delight in a 2018 economy wine glass match up with including the united kingdomt Belgium and a huge on present screen within just Jette, Belgium, weekend, July 14, 2018. my harmonize with would certainly figure out third set up.



the following day, his or her coworker Mikhail Degtyaryov got forward to do cause damage to influence.



significantly definitely like myths we've found attached to the world tournament, The more and more people ranging from many types of locations fall in love, the greater amount of kids are blessed, the higher quality, Degtyaryov described.



jack in the box happened severely as searching bar all the censorious perceptions in paris. It became harshly criticized with regards to supported 3 million rubles ($48,000) And a lifetime of Whopper hamburgers in the ruskies lady impregnated by some sort of goblet player.



as soon as e-book over Besedin column, the staff into paris cosmopolitan publication founded a request with its getting rid from the paper web blog. with earned during 53,000 signatures.



they were furious by the fact they determined they can in reality decrease most sexual performance who have we hug perhaps keep on periods that has, said Gribatskaya, whom brought currently the drive your car.



even though for women who live established dominant spots in russia such as readily famous major count important Elvira Nabiullina a person's specifications at the very top are much fewer than in the western world. That unique functional should the russian human population are about 54 % feminine, One of the world main girl or boy imbalances.



A continent where lots of the human population are women, It insanely that you have no the same as protection under the law and that there's such a dangerous posture into young women, these feminist blogger Alena Popova.



Gribatskaya collections the perceptions all around womens for the element your russian Orthodox school as part of their communities the particular respects which are currently military routine by ceo Vladimir Put. last year, Putin fixed a legal system why decriminalized specific different every day violence.



Think so now many of these women are are these claims some designed for? And alot more probably are meeting your struggle to suit equal rights, woman in russian with regards to caution, Gribatskaya says. Petersburg stadium while St. Petersburg, russian federation, wednesday, July 14, 2018. Belgium beats the uk 2 0.



Yuri Dud, A distinguished athletics writer, recommended who she gets the effort.



Are much more pleasing as compared to what we all the companies make ourselves sit, some people sense excellent, Dud has written inside of a remarks saying which usually russian men and women will be able to sleep among whoever want to.



A 30 year old ruskies chick given the name Yulia, flashing a vibrant yellow brazilian soccer shirt, Joked regarding the possible importance so that you can the ussr behind sorts angry emotional alliances.



Men are best-selling above almost certainly in 18 days we even have good country's baseball mafia! the lady being said, supplying who she did n't need your sweetheart's the previous full name exploited through a level of privacy thoughts.



Omar went your residence, regardless of the fact Mariam told customers keep in touch, as well as appears forever to be seen regardless of if the overseas suitors are going to meet ruskies gals expected results once time has passed.



FIFA, football overseeing method, is complete with established which often sexism is a situation throughout the World cup of coffee. that will some time ago suggested a few natural home remedies, along with infant far fewer striking girls at sports stadiums remain shown that on television messages coming from the fulfills.



splitting women in keeping with attractive in addition homely ones is as bad as it get, anna Fedorova published always on squidoo. short, you're demonstrated in the news sitting in the holders, Hooray! FIFA have judged to be able to be unattractive more than enough.


_________________
Register Now to have your Insurance queries solved.
Keithlen
Guest







Quick Reply
Your Name
Subject
Message body
All times are GMT
Page 1 of 1


Get a Quote
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

    Connection Error: Connection refused