Your mortgage is likely your largest financial obligation. If something happens to you, can your family keep the house? A 20-year term policy costs less than your streaming subscriptions — but most homeowners either skip it or overpay for the wrong type.
Buying a home is often the trigger that makes life insurance real. When you sign a mortgage for $350,000-$500,000, you're taking on an obligation that your family would need to continue paying if you weren't around. Life insurance ensures the mortgage gets paid, the kids stay in their school district, and your spouse doesn't have to sell the house under financial pressure. The industry makes life insurance confusing — whole life vs. term, investment components, cash value accumulation. But for 90%+ of homeowners, the answer is simple: buy term life insurance for enough coverage to pay off your mortgage plus 5-10 years of income replacement. It costs $25-$60/month for most healthy adults. Here's how to calculate your number.
Buying a home is often the trigger that makes life insurance real. When you sign a mortgage for $350,000-$500,000, you're taking on an obligation that your family would need to continue paying if you weren't around. Life insurance ensures the mortgage gets paid, the kids stay in their school district, and your spouse doesn't have to sell the house under financial pressure. The industry makes life insurance confusing — whole life vs. term, investment components, cash value accumulation. But for 90%+ of homeowners, the answer is simple: buy term life insurance for enough coverage to pay off your mortgage plus 5-10 years of income replacement. It costs $25-$60/month for most healthy adults. Here's how to calculate your number.
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