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Hazel Said:

What type of insurance is there to cover the cost of a home in the event of the owners death?

We Answered:

homeinsurance.awardspace.us - try this one. Got my home insurance from them. As I know they provide such a service.

Ben Said:

what type of insurance do I need? I am having my existing home demolished and having a new home built. ?

We Answered:

Home insurance covers lots of different things. I don't understand all the details of my home policy, but my homeowners insurance agent is always a phone call away. Try calling your agent or a agent in your town. http://www.easyhomeinsuranceguide.com They should be able to assist you.

Ray Said:

What is the name of the insurance that I am wanting?

We Answered:

It's called, a "decreasing term first to die life insurance policy".

It's probably a BAD idea, for a number of reasons:

1. It's more expensive than straight term
2. It's darned hard to find "first to die" coverage any more, especially with term insurance - I"m not sure if anyone will even WRITE that.
3. Although you keep PAYING the same amount every year, the coverage amount goes down (because your mortagage balance goes down)
4. I'm against, on principal, any kind of life insurance that pays a lender. Think about it. If both of you die at the same time (like in a car accident), who makes out? THE LENDER.

If you want life insurance, let it PAY the other person, and THEY can choose if they want to keep the house or not. PLUS, they'll have a LOT more money left, to ALSO pay utilities, property taxes, groceries, etc.

Carol Said:

is there any type of insurance to pay for my mortgage if i loose my job?

We Answered:

AFLAC (quack, quack!)

Gabriel Said:

What is Mortgage Insurance?

We Answered:

There are two different types - one is basically a decreasing term life insurance, to pay off your mortgage if you die. It costs more than straight term, and the payoff goes down with time, so it's not as good a deal as straight term insurance.

The other kind, sometimes you can buy from the mortgage company, pays the mortgage if you're disabled or long term ill, and can't work.

But with BOTH of them, you have to "qualify", and with a blood disease and given 1-5 years to live, she's not going to qualify. So if she wanted to get it, assuming 4 years to live, it's going to cost $20,000 a year.

Insurance companies are bookies - and the odds/premiums are ALWAYS in their favor.