Chicago, IL (PRWEB) November 02, 2014
YourLifeSolution.com, a service which allows consumers to compare and purchase life insurance electronically, is today alerting consumers of how mortgage insurance generally doesn’t provide as much value as life insurance for the same price.
According to YourLifeSolution.com, mortgage insurance is a form of life insurance in which the death benefit decreases with the remaining balance of a mortgage, but with life insurance, the death benefit is typically arranged to either grow or stay fixed. “Mortgage insurance is great for the bank, great for the insurer, and pretty mediocre for the customer. Overall, it’s much better to just buy traditional life insurance. Yes, it’s entirely likely that you won’t need the entire death benefit in the end, but nevertheless, it’s far more cost effective to just have a fixed death benefit life insurance policy," said Eric Smith, the founder and independent life insurance agent of YourLifeSolution.com.
YourLifeSolution.com states that not only in their opinion is mortgage life insurance, otherwise known as decreasing term life insurance, an advantageous product, but that they have never placed a single policy that follows this scheme.
YourLifeSolution.com invites all adults to view their own life insurance rates online within the site’s homepage. Consumers can also get information by phone directly from Eric Smith by dialing 888.374.2764.