Can you get credit life on a mortgage?

Can you get credit life on a mortgage?

Here’s how it works. A borrower takes out a mortgage and also gets a credit life insurance policy on the loan. The borrower pays a monthly premium in addition to the mortgage payment. In the event that the borrower becomes permanently disabled or passes before the mortgage is paid, the policy pays the remainder. Mar 25, 2019

Who owns universal life?

Washington Insurance Company, Inc., purchased Protective Industrial Life, Protective merged with its subsidiary and Universal Life became the surviving entity. Located in Birmingham, Alabama, Universal Life offers life, accident, and health coverage and was licensed in 10 states and the District of Columbia.

Which of these riders will pay a death benefit?

Which of these riders will pay a death benefit if the insured’s spouse dies? A Family Term Insurance rider provides a death benefit if the spouse of the insured dies.