Do Single People Need Mortgage Insurance? (Knoxville, TN)
Hi, my name is Scott Smith with banker brokers.com. Sometimes I get asked questions like do I as a single person need mortgage insurance? That happened a couple weeks ago when Holly came into the office, Holly is 38 years old. Two years ago, she bought a condo for $368,000. She took out a mortgage for $340,000. So why does Holly, what mortgage insurance? Let's explore the reasons. First, it's peace of mind. If something were to happen to Holly, while she still has a mortgage, the mortgage is taken care of. So that gives her parents and her extended family one less big thing to worry about immediately. That shows a real act of love from Holly. Second of all, um, we took out a policy for $375,000 not $340,000. Well, why would you want to do that? Well, Holly has a small loan on her automobile. Plus she wanted to make sure that there was enough money to cover her final burial expenses. So we took care of all those things. Third, this policy has a writer on it. It says that if Holly gets sick, injured, disabled to the point of where she cannot work, the policy will pay for itself again, more peace of mind. And so how much is this going to cost Holly? It's going to cost her approximately $25 a month. That's a, that's one price of a dinner out at a moderately priced restaurant a month. It's very affordable. If uh, Holly, who is a young person still chooses to get married, chooses to have a child. The policy is still there and it's an act of love for any of her future relationships. So it's an act of love. It's an act of responsibility and it's a relatively cheap and it gives peace of mind to Holly, that she's looking out for those that she cares about most. Do you have questions for yourself about mortgage life insurance? Is it right for you? Well, let's explore it. All you have to do is contact us at banker brokers.com. Send us your question and we'll respond quickly. That's Banker brokers.com, your source for life insurance and retirement insurance. This is Scott Smith. Have a wonderful day.
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At Banker Brokers, we believe that no one in our community should ever face the fear of an empty plate. That’s why we’re proud to support Second Harvest Food Bank of East Tennessee in their unwavering mission to provide nutritious meals to adults, seniors, and children across 18 counties. Hunger in East Tennessee affects over 230,000 individuals, a heartbreaking reality Second Harvest works tirelessly to change. By addressing the root causes of food insecurity—social inequality and systemic barriers—they are creating pathways to nourishment and hope for everyone, regardless of their background. To help amplify their life-changing efforts, Banker Brokers is donating $25 for every referral we receive to Second Harvest. Each referral translates to meals, support, and relief for families facing the uncertainty of hunger. Your participation is simple but powerful. Share a name, and you’ll be part of a movement bringing stability and dignity to neighbors in need. Together, we can help ensure that no one in our community goes to bed hungry. Join us in this heartfelt mission. Let’s build a brighter, healthier East Tennessee—one meal, one family, and one referral at a time.
Banker Brokers is thrilled to announce our latest Community Cause campaign in partnership with Second Harvest Food Bank of East Tennessee. Our mission is to support their vision of providing adequate nutrition for a healthy life to adults, seniors, and children across 18 counties.
