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.
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.
Use our needs calculator to find out.
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!
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2A.M. Best Company. Feb. 18, 2016. A+ is the second highest of 15 possible ratings. For the latest rating, access ambest.com.