Life Insurance Can Help Pay The Mortgage


 

How would you like to be able to  pay off your mortgage?  Here is a concept using the Return of Premium Life Policy that could do just that.  

John Pekin is a 30 year old nonsmoking male and has a 30 year mortgage. He purchases a Premium Life policy. With a $500,000 face amount and Super Preferred rates, the annual premium is $930. At the end of 20 years, John Pekin will have $18,600 coming back to him tax free, as his return of his premium. He could take that $18,600 to help pay off the remaining 10 years of his mortgage. While the policy was in force, he had peace of mind knowing that he had the life insurance and that his family would be able to continue to live in the house if he were to die prematurely. After the 20 year period, he had a substantial amount of cash to apply to the remaining balance of the mortgage.  He is now mortgage free! 

This policy is only going to be available for sale until around the end of the year. Now is the time to talk to us about the Pekin Life Return of Premium Policy before it is too late.  Give us a call if you have any questions!