What's a good Mortgage Life Insurance plan?

As mentioned in our What is Mortgage Life Insurance? article... in general, the best plan to cover a mortgage is a Level Term Life Insurance policy.  And... there are some recent innovations on the life insurance landscape that have made this point even more valid.

AIG American General has once again taken the lead in the market by offering a plan called "Select-A-Term".  In the past, term life insurance applicants would have to choose:

5 Year Term Life Insurance
10 Year Term Life Insurance
15 Year Term Life Insurance
20 Year Term Life Insurance
25 Year Term Life Insurance
30 Year Term Life Insurance

With Select-A-Term, the applicant is allowed to choose virtually any term length between 10 and 30 years.  (For a reason unknown at the time this article was written, 11, 13, and 14 year term lengths are not available.)  This is ideal when you need coverage only to last the precise length of time left on a given liability-- such as a mortgage.  Do you only have 27 years left on a mortgage?  Then purchase a 27 year term plan.  This much flexibility is unprecedented in the world of term life insurance in the United States.  Plus, you still have the ability to add riders, renew the plan if you need to up to a certain age, and convert it to something permanent as well.  PremiumComparisons.com recommends AIG American General quite often and for good reason.  They're competitive in terms of price, they're A++ rated by A.M Best (the highest attainable rating), and they have some of the smoothest application to issue processes among all prominent carriers on the market. 

Of course-- every carrier has their niche and we know money talks.  The carrier that fits your budget, therefore, is the best for you.  After all-- this is why PremiumComparisons.com exists.  To give you, the American consumer of insurance products, the ability to choose the carrier that suits you best based on price and strength of the company. 

But when it comes to purchasing mortgage protection life insurance, we believe-- at least at the moment-- that Select-A-Term is the best option to explore.        

Click the following link to visit our Mortgage Life Insurance home page, enter your state of residence and choose a provider of Mortgage Life Insurance - Level Term Life Insurance.  When you receive your quote... look out for Select-A-Term.  We believe you'll like what you find...