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Other Types of Life Insurance - Mortgage & Credit Life Insurance Foxboro MA

The short answer is that you likely shouldn't get Mortgage life insurance. Your bank will make significant efforts to have you buy it, but tell them you are fully insured through your other life insurance coverage. Why would you do that? Because mortgage life insurance through your bank is notoriously expensive for the amount of coverage.

Mr. Joseph C. Connolly (RFC®), CHFC, CLU, CSA
(508) 698-3344
Pine Brook Office Park
Foxborough, MA
Company
Connolly & Associates, Inc
Qualifications
Years of Experience: 34
Membership
IARFC, SFSP
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Seminars Work, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Charitable Planning, Education Plan, Asset Protection, BuySell, LiabCover, Compensation Plans

Data Provided by:
Lawrence M. Thomas (RFC®), CSA
(508) 699-3080
1 George Leven Dr., #100
North Attleboro, MA
Company
Total Asset Design
Qualifications
Years of Experience: 29
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Tax Returns, Employee Benefits, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Auto Home Insurance, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Mr. Michael W. Aragao (RFC®), MBA
(401) 475-7570
2374 Diamond Hill Rd #3B
Cumberland, RI
Company
M.W. Aragao Investment Advisors
Qualifications
Education: BSBA, MBA
Years of Experience: 10
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, personal Coach, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Stocks and Bonds, Mutual Funds, Mortgage Loans, CommOptions, CD Banking, Annuities, Life Insurance, Business Coach, Charitable Planning, Education Plan, Asset Protection, Compensation Plans

Data Provided by:
The Paul Lymneos Insurance Agency, INC.
(617) 327-3870
4258 Washington St. Suite 8
Boston, MA
 
Weeks & Devonish Insurance
(617) 282-5889
1766 Dorchester Ave
Boston, MA
 
Mr. John J. Barry (RFC®)
(508) 660-9166
1510 Washington St
Walpole, MA
Company
Barry Financial Advisors
Qualifications
Education: Suffolk UniversityBoston, MassachusettsBachelor of Science - Government
Years of Experience: 8
Membership
IARFC
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Charitable Planning, Education Plan, Asset Protection, Compensation Plans

Data Provided by:
Michele Ann Russell (RFC®), CFP
(781) 344-4401
909 Washington Street Suite 202
Stoughton, MA
Company
CERES Financial Group, Inc.
Qualifications
Years of Experience: 15
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, personal Coach, Retirement Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Education Plan, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Russell K. McNeil Insurance Agency Inc
(617) 327-3100
5341 Washington St
Boston, MA
 
Jlg Mac Quarrie
(617) 323-8080
2 Corinth St
Boston, MA
 
Warren Insurance Agency
(617) 265-1414
764 Blue Hill Ave
Boston, MA
 
Data Provided by:

Other Types of Life Insurance - Mortgage & Credit Life Insurance

Provided By: 

Other Types Of Life Insurance

Life insurance makes money for organizations. It's the last insurance most of us ever want to collect on.

The chance of paying out is relatively low and it should be no surprise that other institutions want to offer this to you.

Here are two types of life insurance that you may have been offered:

  1. Mortgage Life Insurance
    The short answer is that you likely shouldn't get Mortgage life insurance. Your bank will make significant efforts to have you buy it, but tell them you are fully insured through your other life insurance coverage. Why would you do that? Because mortgage life insurance through your bank is notoriously expensive for the amount of coverage. Whatever you pay to have your mortgage of $150,000, completely insured through the bank, it will be more than a comparable term policy 9 times out of 10. Just get more term life insurance if you need it.
  2. Credit Card Life Insurance
    Credit card insurance is very expensive coverage for very small amounts. Instead of doing this get more term life insurance . If you don't have term life insurance, get a small policy - you'll find that it's very inexpensive in comparison to the cost of the coverage through the credit card.

    Now, the credit card company will try to sell you the credit card life insurance because "you don't pay if you don't have a balance". Well folks - THEY don't pay you a benefit either if you don't have a balance.

    In general, don't do it.

    ...

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