Do You Need Life Insurance for a Mortgage?
The purpose of life insurance is to provide financial support to the family after the death of an individual. Buying a life insurance policy is not compulsory along with a mortgage. In order to get a mortgage, you need life insurance. Mortgage lenders require life insurance as a condition for obtaining a mortgage loan. Mortgage lenders may also require borrowers to have enough coverage on their life insurance policy that would be able to pay off the loan amount if the borrower was unable to do so due to death or disability...Read More