Over the last few years, interest rates on home mortgages have been at historical lows. When rates are low, homeowners can refinance to save money and new buyers can qualify more easily for homes since the mortgage payments are lower. In both cases, especially in California, though the interest rates are low, home prices have gone up and the mortgage principal amounts are high again. What would happen if there was a premature death of one of the spouses?
Often both spouses are working in a household and a death could greatly impact the household income needed to maintain a family’s home and living standard. To protect your family for an unforeseen event such as this, Term Life Insurance is a smart way to enable the surviving spouse to continue to make the mortgage payments or to potentially pay off the mortgage. It is one of the main reasons people need life insurance outside of their work.
Term Life Insurance prices are currently very competitive. Term Life Insurance can make you feel more secure, knowing that your spouse could keep your home in the event of a death. Feel free to give Randy Jones Insurance a call for a no-obligation quote for this important benefits.