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Can an existing life insurance policy be used to provide for the repayment of an outstanding mortgage loan?
- September 22, 2016
- Posted by: aeadmin
- Category:
No CommentsYes; the purchase of a new mortgage protection term insurance policy is usually not required by the lender. An existing policy, either term or cash-value life insurance, can be used for many purposes, including paying off an outstanding mortgage loan balance in the event of the insured’s death. Credit life insurance is frequently recommended in
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Should term insurance or cash value life insurance be purchased?
- September 22, 2016
- Posted by: aeadmin
- Category:
Although a difficult question–one whose answer will vary depending on circumstances–several principles should be followed in addressing this issue. It must first be recognized that in any life insurance purchasing decision, there are at least two basic questions that must be answered: “How much life insurance should I buy?” and “What type of life insurance
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What about purchasing life insurance on a spouse and on children?
- September 22, 2016
- Posted by: aeadmin
- Category:
In certain circumstances, it may be advisable to purchase life insurance on children; generally, however, such purchases should not be made in lieu of purchasing appropriate amounts of life insurance on the family breadwinner(s). It is of utmost importance that the income earning capacity of the primary breadwinner be fully protected, if possible, through the
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How much life insurance should an individual own?
- September 22, 2016
- Posted by: aeadmin
- Category:
Rough “rules of thumb” suggest an amount of life insurance equal to 6 to 8 times annual earnings. However, many factors should be taken into account in determining a more precise estimate of the amount of life insurance needed. Important factors include: Income sources (and amounts) other than salary/earnings Whether or not the individual is
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Should I purchase flood coverage?
- September 22, 2016
- Posted by: aeadmin
- Category:
If your property lies in a flood plain as determined by US Government Flood Maps. Ask your independent agent about a flood quote.
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Should I purchase earthquake coverage?
- September 22, 2016
- Posted by: aeadmin
- Category:
Direct damages due to earthquakes are not covered under the standard homeowners insurance policy. If you live in an area that is prone to earthquakes, you may want to consider adding an earthquake endorsement to your homeowners insurance policy. This endorsement will cover damages due to earthquakes, landslides, volcanic eruptions and other earth movements.
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Where and when is my personal property covered?
- September 22, 2016
- Posted by: aeadmin
- Category:
Coverage C of a homeowners policy provides named perils coverage. This applies to all your personal property (except property that is specifically excluded).
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What do I need to know when purchasing homeowners insurance?
- September 22, 2016
- Posted by: aeadmin
- Category:
Get the amount and type of insurance that you need. Determine the amount of personal property insurance and personal liability coverage that you need. Select any additional endorsements you want to add to your policy. For example, do you want the personal property replacement cost endorsement?
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What is homeowners insurance?
- September 22, 2016
- Posted by: aeadmin
- Category:
Homeowners insurance is a form of personal lines insurance. The typical homeowners policy has two main sections: 1) covers the property of the insured and 2) provides personal liability coverage to the insured.