Mortgage life insurance is a gimmick - always buy term life insurance that is ten times your annual income.
QUESTION: GB asks if he needs mortgage life insurance. Is it a gimmick?
ANSWER: You should never buy mortgage life insurance. It’s ten to twenty times more expensive than the same amount of term life insurance. It is a gimmick. Always buy enough term life insurance – about ten times your annual income – to take care of your family in case of death.
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