Term/Morgage Insurance
Home
Designed to meet the specific need for limited number of years such as
mortgage/ loan
Lower premium
Premium remains same for its specific term
On renewal premium increases according to the attained age
May have option to convert into permanent insurance without medical evidence
Do not have cash value
Usually terms are 10, 20, 75, 100
Mortgage insurance
just covers the mortgage amount, so benefits
decreases as mortgage decreases but premium remains the same
while in other type of term insurances the benefits (insured amount)
remains the same.
For further information or to clarify any point
email:
aasif@asifjaved.com