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Other Types of Life Insurance - Mortgage & Credit Life Insurance Wichita KS

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.

Mrs. Angela L. Tejeda (RFC®), MBA
(316) 721-5191
8307 W. 34th St. N
Wichita, KS
Company
Tejeda Financial / Money Concepts
Qualifications
Education: BA - PsychologyMBA
Years of Experience: 10
Membership
IARFC, FPA, SFSP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Education Plan, Charitable Foundations, Asset Protection, BuySell, LiabCover, Compensation Plans

Data Provided by:
Fortune Protection Ins AAA
(316) 262-1550
1550 S Broadway St
Wichita, KS
 
American General Life & Accident Insurance
(316) 630-0100
400 N Woodlawn St
Wichita, KS
 
Blythe Insurance Agency
(316) 685-2388
5745 E Central Ave
Wichita, KS
 
Farm Credit Of Central KS
(316) 721-1100
7940 W Kellogg Dr
Wichita, KS
 
Mr. Brian Michael Nelson (RFC®), RFP
(316) 630-0670
13111 E 21st St. N.
Wichita, KS
Company
Cornerstone Financial, LLC
Qualifications
Years of Experience: 4
Membership
IARFC
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Education Plan, Asset Protection

Data Provided by:
Affiliated Agents
(316) 943-2101
2061 N West St
Wichita, KS
 
Tony Cope Insurance Agency
(316) 682-5500
935 S Woodlawn
Wichita, KS
 
Bergkamp Duane CMFC
(316) 721-6767
8925 W Maple St Ste 15
Wichita, KS
 
Bob Watson Agency
(316) 729-7057
8911 W Maple
Wichita, KS
 
Data Provided by:

Other Types of Life Insurance - Mortgage & Credit Life Insurance

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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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