My fiance and I just bought a home and our mortgage co didn’t offer debt protection but I am receiving offers in the mail from places like Mutual of Omaha offering for me to purchase debt protection through them, is it worth it?
It is very profitable for the insurance people and that means not so good for you. It is overpriced. If you want insurance protection the best way to go is the plain old term life insurance.
Should I purchase debt protection for my mortgage?
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Like all insurance, it is a gamble. I personally don’t have it on my mortgages because I am a single guy & there is no point.
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It’s a scam. When you die, your estate is the only entity responsible for your debts, since you’re technically single (i.e. not married). No one would be responsible for paying back the debt; the lender would just sue your estate for payment.
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As a general rule, that typoe of insurance is extremely expensive. It is better to get a regular life insurance policy, as opposed to getting a mortgage life policy. With morthgage life insurance, the amount of insurance decreases over time.
You can call/write mortgaeg company, and ask to be taken off junk mail list. ( I am a mortgage broker.)
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It is very profitable for the insurance people and that means not so good for you. It is overpriced. If you want insurance protection the best way to go is the plain old term life insurance.
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Hi,
I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It’s legitimate. Icame across this company on NBC News Special Edition.Check it out here:
http://shurl.net/5oX
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