about the Life Insurance I already have?
may already have some life insurance in place through your employee
benefits or attached to your mortgage. This is a good start,
but there are a few things to keep in mind.
insurance through your mortgage provider is paid
to your lender, not to your family. It only covers the outstanding
balance of your mortgage. Nothing is left over to help your
family with the other expenses they may face.
more about Smart Mortgage protection...
insurance through your employee benefits is a very
affordable way to begin your life insurance program, but it's
important to make sure this coverage is enough to meet your
needs. You may be able to buy additional coverage, up to a
maximum, through your employee plan. Remember, this insurance
doesn't go with you if you change employers, it ends when
you retire and can increase in cost each year as your age
a Closer Look
of a personal, individually
owned life insurance policy:
select the amount of insurance that meets your needs.
choose the type of life inusrance and any optional types
of benefits (eg. disability, coverage for your family
members, etc.) best suited for your personal situation.
own the policy. Your coverage can't be cancelled
(eg. by your mortgage lender or employer) or changed
unless you request it.
don't have to worry about losing your coverage
if you change jobs or switch mortgage lenders.