Buying a home

 

The need for life insurance: Buying a home

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Edward: When you talk about a mortgage, it is probably your largest investment. You want to make sure that mortgage is covered if by chance I were to pass. My wife can probably still you know make some payments, but losing my income might kind of cut back where she would have to sell the house, maybe downsize. I want to keep them to what they are accustomed to, I’m making sure I’m protecting that asset.

Help ensure your loved ones can stay in their home

A home is usually the largest investment that you’ll make in your lifetime, and will often involve a mortgage signed with a spouse or partner.

Owning life insurance can put you and those who depend on you at ease, knowing that the proceeds from a life insurance policy can be used to help pay off the mortgage and allow them to stay in their home. In fact, 62% of Americans own life insurance to help pay off their mortgage.¹

If you don’t currently have life insurance and are buying or already own a home, purchasing term life insurance is a great way to address your need. Simply match the term period and coverage amount of the life insurance policy to the term and dollar amount of your mortgage. You’ll also want to consider other needs to ensure that you obtain enough coverage.

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How much life insurance coverage is right for you?

Use our needs calculator to find out.

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Resources

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Your helpful life insurance guide: Buying a home

When it comes to buying a home, you may not realize that having life insurance is an important part of the process.

Your helpful life insurance guide: Shopping for Life Insurance

When it comes to shopping for life insurance, you may need help making an informed decision. We’ve created this guide that’ll make it much easier for you when you’re looking to purchase life insurance.

Does your life insurance address all of your financial responsibilities?

It’s critical to understand that life insurance can help you address financial concerns beyond your mortgage and final expenses, today and tomorrow.

Tips to help determine the right amount of coverage for your needs

No matter what stage of life you’re in, it’s important to consider several factors to help determine if your life insurance covers all of your unique needs.

Amica Life Survey finds Many Americans are underinsured – are you?

If something were to happen to you, or to your spouse, would you have enough life insurance protection to cover all of your expenses?

Why Amica Life?

With Amica Life, you can always expect an extraordinary level of service. Our licensed professionals will listen to your unique needs, answer your questions, identify coverage that's right for you and then help you every step of the way to ensure your coverage stays in line with all of your life’s changes. With an A+ (Superior) rating from A.M. Best2, a leading authority on insurance company financial stability, you can also be confident Amica Life will be there for your loved ones.

Learn more now!

These are the times when life insurance can matter the most.

12015 Amica Life Financial Peace of Mind Survey
2A.M. Best Company. Feb. 18, 2016. A+ is the second highest of 15 possible ratings. For the latest rating, access ambest.com.