Читать книгу Finance & Grow Your New Business - Angie Mohr - Страница 44

Mortgage insurance will pay off the outstanding balance of your mortgage when you die. However, the premiums for most policies are set based on the amount owing when the policy is set up. So, for example, you may owe $150,000 now on your mortgage and will pay premiums based on that. In ten years, when you die, you may only owe $10,000 and that would be the amount paid out on the policy. In general, the premiums for mortgage insurance tend to be high compared to the payout. Mortgage insurance can be replaced with additional life insurance for a much lower cost in many cases, and should be discussed with your accountant or independent financial planner.