Some homeowners whose mortgages are not covered
by private mortgage insurance (PMI), take out a term
life insurance policy to protect their families in case of
their deaths. According to the New York Times, laddering
such a policy could be a money-saving step. Here is an
example of laddering: For a $300,000 mortgage, three
policies could be taken over time. For the first 10 years, the
policy would be for $300,000. For the second 10, a policy
would be for $200,000, and for the last 10 years, it would be
for $100,000.
Considering the low rates now being offered on $500,000 term
Life policies, a young person who is in good health might
Consider term life to protect his or her family.
Blessings to Your Real Estate Investing Business,
Milton B. Yates
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