What Life Insurance Do I Need For A Mortgage? (Knoxville, TN)
Many families and especially those who have just moved into new homes, for example, have questions about how to set up life insurance protection for their mortgage. Now, in the event that tragedy strikes the major breadwinner of a household, a life insurance policy can actually be used to pay off the mortgage and allow the family to keep the home.
Now, this type of policy is relatively straightforward and it can be easily purchased from just about any life insurance carrier. Now, the policy can also be part of the closing agreement on a new house, which usually means that premiums for the policy will be added to the monthly mortgage payment.
Now, something that I want you to also take note of is a mortgage policy can be engineered to provide a monthly benefit to the surviving family in addition to paying off the house and this provides an extra financial cushion which I think is just a huge, huge plus.
So before making any final decisions, be sure to talk to your insurance agent to determine what kind of policy properly protects your family.
Schedule a consultation by calling us at (865) 687-1910!
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.
