mortgage company as life insurance beneficiary

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PostPosted: Thu Oct 23, 2014 2:39 pm   Post subject: mortgage company as life insurance beneficiary  

What are the pros and cons of naming the mortgage company on the life insurance policy?

sunwomansanders
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PostPosted: Tue Oct 28, 2014 1:57 am   Post subject:   

There are no "pros". Why would you want the mortgage company to be your life insurance beneficiary? If you are dead, who cares about the mortgage? The lender will foreclose and resell the property, collecting any loss from the PMI/MIP insurance carrier.


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MaxHerr
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