| Having enough life insurance to not only
| |
| | Jane was left to support her family
|
| cover the loss of income, but also your
| |
| | without an income.
|
| family's other debts (such as house, car,
| |
| | Fortunately Eric had enough life cover to
|
| credit cards, etc.) is a wise move. Even
| |
| | offset his financial contribution to the
|
| though it may feel like a struggle at the
| |
| | running of the household. He also had
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| time if you have to scrape the funds
| |
| | mortgage insurance. Jane received a
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| together to cover the premium.
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| | check from the life insurance company
|
| In the event the unthinkable happen, the
| |
| | large enough to invest and support her
|
| house (and perhaps other debts) would be
| |
| | and the kids until they were grown, and
|
| paid for and your family would have one
| |
| | another check she used to pay off the
|
| less burden to worry about. Or, if you
| |
| | mortgage on the home, which took away the
|
| have mortgage insurance that is triggered
| |
| | largest monthly expenditure. Jane no
|
| by your disability or being unable to
| |
| | longer had to worry about making the
|
| work (or disability insurance), then your
| |
| | house payment each month, or dipping into
|
| family is covered if something should
| |
| | the life insurance money to make the
|
| happen.
| |
| | house payment. The mortgage insurance
|
| When you take out the loan on your house,
| |
| | took care of that for them.
|
| the company financing your home will
| |
| | Jane's case is, unfortunately, all too
|
| often insist that you include mortgage
| |
| | common. Every year in America thousands
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| insurance as part of the arrangement.
| |
| | of people depend on mortgage insurance
|
| While this may seem like an unnecessary
| |
| | when an unexpected tragedy occurs.
|
| addition to your already full expenditure
| |
| | Mortgage insurance (or additional life
|
| list, it does make financial sense for
| |
| | insurance to cover the mortgage) can seem
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| the mortgage company but also for you.
| |
| | like a burden to those who opt for it,
|
| However, just because you are buying
| |
| | until they think about the amount of
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| mortgage insurance from one company
| |
| | protection it provides. Mortgage
|
| doesn't mean that you need use that same
| |
| | insurance is one of those things that you
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| company for your other insurance needs.
| |
| | are very glad to have when you finally
|
| Take, for example, the case of Jane Dodd.
| |
| | need it.
|
| Jane and her husband Eric worked hard to
| |
| | In such a difficult time, having enough
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| raise a down payment to buy a home. The
| |
| | insurance to cover the remainder of the
|
| Joneses had three children, and they both
| |
| | mortgage, for many families, has made all
|
| decided that Jane should stay home with
| |
| | of the difference in security, in having
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| the kids. Eric had a good job and a solid
| |
| | a roof over their heads, and in knowing
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| paycheck so it wasn't a strain. But when
| |
| | that their futures are secure.
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| Eric was tragically killed in car crash,
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| |
|
