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|TERM LIFE / WHOLE LIFE / HEALTH
|HELP YOUR LOVED ONES PAY-OFF MORTGAGE
|I believe Life insurance is the
greatest preventer of poverty...
I would strongly suggest to get your
life insured before you become
uninsurable or it's too late.
If you do not have a Mortgage Protection Plan, your family will end up with the mortgage payments, and
with your lost income, they may lose the home in foreclosure.
This is not a PMI. PMI protects the lender. This is how it works.
Suppose you have a current home loan of $750,000 for 30 years, you may apply for coverage on your
life for $750,000 for 30 years (we recommend spouse should be covered too).
In the event of your untimely death, the insurance company will pay the beneficiaries (your family) lump
sum $750,000 - and that's TAX - FREE. The policy has to be in good standing at time of death. If the
loan is paid off or almost paid off, or if you sell your home, or you do not even own a property, it does
not matter. The policy is covering you, not a property, and your family still gets the same cash benefits.
When you apply for Mortgage Protection Plan, for a little extra premium, you may have two additional
options available (depending on age and insurance company's underwriting guidelines).
Option 1: Return of Premium (ROP).
In this option, you get all the premiums you've paid at the end of the policy term, provided you outlive the
It's just like renting a property for specific years, and once you do not want to rent anymore, your
landlord returns you all the rent you paid in past years.
Option 2: No Medical Exam (Non-Med).
In this option, you will not be required to provide a medical exam to get covered. It's ideal for those
people who would not like to have medical test, do not like needles, do not like to give blood test, urine
test, and other tests as may required in underwriting.
Just answer few health questions. The process in this type of insurance is much faster than the regular
one. Ages up to 95, term of 5-30 years, coverage amount $50,000-$350,000. $500,000 coverage
amount available with 15-40 years of term.
|Calculate how much Life
Insurance you may need for
yourself, your family and/or
|STEP 1; Request a free quote
STEP 2: Review the plan
STEP 3: Apply for coverage
|The information, general principles, and conclusions presented on this page are subject to change without notice, and also are subject to underwriting guidelines. The information provided is generalized and It should not be used as
a substitute for the professional advice of an attorney, an accountant, tax advisor, or any other professionals. CoverLine Insurance Services, the owners of the agency, the agents representing the agency, and staff members are not
providing any legal, accounting, or tax advice. CoverLine Insurance Services is an independent insurance agency licensed by the California Department of Insurance, License #0K77816.
CA DOI Lic. #0K77816