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4 Reasons to Buy Mortgage Insurance in 2014

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4 Reasons to Buy Mortgage Insurance in 2014

Many people think that mortgages are such a bad idea. You really can’t blame them because more often than not, acquiring a mortgage is like getting a lifetime of debt that you will need to pay for the rest of your life. Everyone would think that getting one would be a bad move but you would be surprised to find out that there are certain recent you can do to ensure that your home will be covered even after death. Here are the top four reasons why you should consider getting mortgage insurance in 2014.

1. Property Isn’t Easy to Sell

Yes, you got that right. In the event that you suddenly become unemployed or you got into an accident, selling your house isn’t that easy. There are a lot of things that you need to consider such as talking to your realtor, make sure that all the paperwork is done, and of course, you need to start on advertising which can take a lot of time. Because properties can’t be easily converted to cash, mortgage insurance is highly advisable.

2. Lower Premiums

Getting mortgage insurance is ideal to those who doesn’t want to pay higher premiums. This is because it is a very specific they could expect to pay for at least 30% off from the regular premium that you would be paying in the life insurance. This can easily protect you and your family from being homeless in the future.

3. Personalized Coverage

The best part about getting this kind of policy is that it doesn’t limit you to only mortgages. We can actually have your agent to customize it for you. You can append medical reimbursements as well as other policies that can protect your other assets. Again, you will enjoy the same low premiums because everything is specific. You can only acquire policies that you just need for yourself and for your loved ones.

4. Big Discount

One of the things that many people don’t know about is that the longer the case the protected via your policy, the bigger discount that you will have. This concept also applies some mortgage insurance. For example, if you have a 25 year loan for your house, you would only have to pay for a total of 22 years instead of 25 because of your insurance. It is actually a great way to save money in the long run.

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