Does your life insurance cover your new home?

Family life insurance and policyBuying a home is an exciting new time in people’s lives. When looking at their insurance portfolio, most people only look at their homeowner insurance plan to make sure their new home is covered. However, it is also important to look at your life insurance plan when buying a new home to make sure you are covered all around.

Life insurance is important if you have anyone who depends on you, especially if you just bought a house. In the unfortunate event of death, your life insurance plan can help your loved ones keep the house by using the life insurance money to continue paying the mortgage and other living expenses. When buying a home, make sure to reevaluate how much your life insurance policy is. You may have to raise the amount to help cover your home expenses in case of your passing.

There is also the option to buy mortgage life insurance, which is a specific policy to cover a mortgage. The policy does not pay out unless the policyholder dies and there is still money to be paid on the home mortgage. When you buy a house, you will receive official looking notices that instruct you to fill out a form with personal information about the loan holder, such as age, sex, tobacco use, and occupation. These forms will not sign you up for anything, but will put your information in a system to receive sales phone calls. Make sure to look into the terms, costs, and benefits of a policy before signing a contract.

Pulp Street Corporation can help guide you through the insurance side of home buying to make sure you are protected. . They will help you determine how much life insurance you need to cover your new home in case of death. They can also help with all your other insurance needs, from health to commercial insurance.

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