Need Advice? Have a Question?

(866) 699-1884

Compare Instant quotesfrom top life insurance companies

Banner Life Insurance to Cover a Mortgage

Do you ever wonder how you family could stay in your home if you passed away and could not provide them with an income? Many families buy life insurance to cover a mortgage in case one of the main income earners passes away. Some term life companies also offer additional benefits like critical illness and disability riders that make policies even more useful. Life insurance companies are not all exactly alike, and we want to help you find the best term life rates and benefits for your needs. Compare quotes and plans with our free quote system. If you still have questions, you are welcome to pick up the phone and give us a call.

Banner Life Insurance Company

If you have a larger mortgage to cover, say over $300,000, Banner Life might offer you the most competitive rates. This company does not offer term insurance without a medical, but they do pay for any medical exams that they might require, and you can schedule them at your convenience. These are some other highlights of Banner Life:
  • A.M. Best awarded this company an A+ rating for financial strength.
  • Banner Life also offers universal life, whole life, and renewable and convertible term life policies up to age 95. Convertible means that you can convert the term policy to a permanent policy without having to undergo health underwriting again.
  • You can choose a different policy terms to closely match your mortgage. For example, you might select a 20 year term life policy if you have 18 years left to pay on your mortgage.
Some mortgage insurance offers a decreasing term, and this means that the death benefit declines over the life of the policy. This could make sense as it provides a slightly cheaper way to purchase coverage, and your mortgage balance should also decline as you make payments over time. However, some people would rather buy level term insurance anyway, and it might not cost that much more. Since these policies pay cash benefits to your family, they are free to use the money in any way they need to.

Let Us Help You Get the Right Protection at the Right Price

Begin by comparing quotes and plans with our free online tools. If you need help or have questions, you can always call for more information. We hope to provide tools and services to help people purchase the protection they need to ensure the security of their home and family.