Think about who depends on you.
If your income helps pay the mortgage, consider how your spouse, children, or other loved ones would manage those payments without you.
Start with the mortgage.
Bring your approximate mortgage balance, monthly payment, and remaining loan term to the conversation. Review other household expenses and any life insurance you already have.
Understand the coverage.
Ask about the death benefit, premiums, coverage length, exclusions, and who receives the benefit. The amount and type of life insurance should be considered alongside your family’s needs and budget.
What does “mortgage protection” mean here?
Here, mortgage protection means considering life insurance to help loved ones manage mortgage costs after a covered death. It is not homeowners insurance or private mortgage insurance (PMI). It does not automatically pay off a mortgage, cover missed payments, or provide disability or unemployment benefits. Benefits and any optional riders depend on the specific policy and eligibility.
A helpful question to start with
“If I were no longer here, what would help my family stay in our home?” Bring that question to Mariah, along with any coverage you already have.
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