I am HAVING Home loan 20 lakes and Would Like to Protect the risk.
Could You Suggest Which Is Best insurance scheme "Home Loan Insurance (Protecting home loan alone) and Lime Term Insurance (Protecting not like home loan). I Want to Know Which One Is the acreage and Benefit lower one?
Lenna Soo says...
your asking whats the best policy to get, since that your home is under home mortgage or acquired through loan, precisely you have still a balance payable in the form of monthly amortization.I would suggest you get a mortgage redemption insurance (mri) to protect your heirs from the burden of assuming your loan balance should something happen to you.
it is also quite practical to get a life insurance whether permanent or term for your family's protection that will also include of course health benefits.
mortgage redemption insurance is not that so expensive compare to life term insurance, however, life term insurance is much cheaper compare to permanent life insurance and base on my profession as underwriter, the expensive type of insurance is the medical or health insurance ( HMO )
Posted on January 23, 2011
