Mortgage Insurance

[myrick]

Can any agent quote me on this? Joint coverage $500k for 20 years

DOB - Nov 1974 & Mar 1979

 

[JuniorLion]

Just buy a term insurance.

 

[boredboiboi]

Can any agent quote me on this? Joint coverage $500k for 20 years

DOB - Nov 1974 & Mar 1979

Suggest to get individual term plan for each.

 

[Blacklist]

Can consider a term instead, as term coverage remains flat throughout whole mortgage insurance coverage will decrease according to your outstanding loan.

 

[BBCWatcher]

Although you’re not required to have flat term life insurance coverage. For example, you could buy a pair of term life policies for each spouse, each pair like this:

$200,000 for 10 years
$300,000 for 20 years

The total coverage starts at $500,000 then steps down to $300,000 after 10 years as you pay down the mortgage. You can visit Comparefirst.sg to obtain quotations on term life insurance policies in these and other arrangements. As another example, you could do this:

$100,000 for 10 years
$200,000 for 15 years
$200,000 for 20 years

Don’t forget Disability Income Insurance!

 

[xtwis7]

Why a joint coverage and not separate term policies? That’s to say that you still want to pay for your share of the mortgage even if something were to happen to your spouse?

 

[jetblack]

Term is slightly cheaper and serves the same purpose. A 100k more coverage wouldnt hurt down the road. There’s a bunch of websites that provides quotes. Google it

 

[Slowdown]

Term insurance is a better option. If you have pre existing medical condition you want to check if they are covered within the policy. Don't just compare based on price alone.