Home Ownership: Term Life Insurance Vs Mortgage Insurance

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Many people are unaware of the differences between mortgage life insurance and term life insurance. Shortly after buying a new home, insurance offers begin to roll in and a decision needs to be made. It can be a challenge to plan ahead during the excitement of a new home purchase, but it is important to know the facts in order to make the best decision. Mortgage life insurance pays off your home loan if you die with a balance. Term life insurance will cover your mortgage and also anything else the ones you leave behind may need. In this quiz, we will cover some of the pros and cons of term life insurance for your children and mortgage insurance for homeowners. Which one is the best fit for you? Put your knowledge to the test. You may know more than you think."Related tip threads and Q&As from our members:What's the Best Time to Generally Buy Life Insurance?How Will I Know Which Life Insurance Policy to Choose?What Else Can Life Insurance Be Used For?Related quiz topics:Term Life Insurance vs Mortgage InsuranceHidden Factors that Affect Your Life Insurance RatesThe Benefits of Getting Life Insurance for Millennials"

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