Lowest Price Mortgage Protection Policy

[Tahoe Ray]

Thank you for the information. I was not sure what the term was for this type of term product. In a sense it is annually renewable because you can renew at the lower face amount each year. It's like an ART policy in the sense that the face amount is reduced each year so the premium, which would have increased, remains level .

You can just ladder multiple policies with differing maturities or use term products that allow term riders to save on the policy fees. You can normally save 10-20% over buying a traditional 30 year term by doing this.

 

[GoGiver]

If mortgage protection is all the client is looking for and decreasing term policies are hard to find, what about just doing a level term and decreasing the death benefit as they pay down the mortgage? Could do that every 5 years or as the client wishes to.