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I had lunch with a friend of mine last week. He had just refinanced his home. He said it was amazing how many letters he received about purchasing Mortgage term insurance.

I gave him a reccomendation. DO NOT BUY MORTGAGE TERM INSURANCE. If you are smart, you can purchase a TERM LIFE insurance in the amount of your mortgage maybe even more for probably 10% less money, and you will be protecting you and not the bank.

With a mortgage term policy, if you die, your mortgage gets paid, that is it. The bank gets thier money, nothing left for the family.

With a TERM LIFE, if you die, and I really hope you do not. Your beneficiaries get the money to do what they want with it. Paying the mortgage off, might be what they do with it, or maybe they are paying tuition. Either way, there is more flexibilty in a term life product.

Eric Wilson is President of I Sell Health, Inc.
He is based in the Chicago area and covers 5 midwest states. He can be reached at 888-448-5370