 Health insurance advise; have member id, not in system??? |
| My company changed group insurance from one company to another with an effective date of 2-1-08. As of today, I still have not recieved a card or anything. Yesterday, the broker sent me over a page ... |
|
 How much do you pay for your home owner's insurance? |
I am doing a survey and this would really be helpful for me.
Please let me know how much you pay for your home owner's insurance.
If you pay monthly or yearly.
T... |
|
 Could u pls list out the life insurance companies in india on performance basis? |
| i would like to have list of life insurance companies in india with its performance details for a PG Diploma project ... |
|
 How do you find out if an old insurance company still exsists? |
| my father in law passed away and had a life insurance taken out some 68 years ago. we are trying to find out how we can cash in the policy as we cant find out any details of if the company is still ... |
|
 Patient deductible? |
patient has a 100.00 deductible which has not been met. his charge at the doctor's office is 225.00. his insurance ia a 70/30 policy. how much
should he pay at time of the visit ?... |
|
 Can anyone help me with my situation? |
| I am 16 and dont have any form of insurance i need help in finding my own insurance as far as dental, medical, and vision. Please help.... |
|
 Employee share for health insurance? |
| I'm considering a job change to small company ( approximately 130 employees). Cost for health insurance would be about $770 a month for a wife and husband, that's after the employer ... |
|
 Does any company offer health insurance to spouses when newly employed? |
| It seems like all spouses are excluded from health insurance benefits when a company is hiring a new employee. Are there any companies in this year, 2006, that will give the spouse and/or family ... |
|
 Can my employer cancel my medical insurance if i am currently being treated for a diagnosed medical condition? |
| i am being treated for a medical condition and my employer has chosen to put me back to part time (for missing too much work due to the medical condition) and cancel my medical insurance. does my ... |
|
 Buying renters/contents insurance -how to I find out what the roof's made of, what sort of locks are there etc? |
| I'm just moving into a small flat with my girlfriend and I'm looking at contents/renters insurance. My problem is, I don't know if the main doors have a 247 leaver killer-man deadlock ... |
|
 Do I have to pay my neighbor? |
| The fire that started from my house spread to my neighbors and it burned their houses. The accident happened when I wasn't at home and the reason for the fire was electric leakage from fire ... |
|
 Wheres the best health insurance for 2 people who arent married? |
| me and my boyfriend r in need to go to dentist and doctor but we have no insurance where would b the best place to look ? we r not married does it matter?... |
|
| Can I use another doc in my PCP's practice if she is not there...I have BCBS HMO.? |
| I have had a regualr BCBS HMO forever, but have ever had a problem seeing my doctor. i HAVE to go to the doctor today and she is not there. Can I see any doctor in the same group or will ins not ... |
|
 When you sue a company.....Help please and thank you!? |
| My dad is suing a company because he is disabled and he was interviewing for a job. I'm not exactly sure what happened but they discriminated him cause his disabled. He got a letter from the ... |
|
 Urine tests? for life insurance? |
| What do nurses check for in urine tests for life insurance???... |
|
|  |
dotekeshia05@sbcglob... | Can I use term life insurance instead of PMI? |
I have to close tomorrow and my good faith estimate has me paying $500 for PMI, I am in Texas, can anyone explain this for me? |
 |
 
Doing the Right Thing
 |
A PMI is a Private Mortgage Insurance that protects the lender in case you default on the loan. A PMI is included in your mortgage bill until you paid 20% of the principal balance of the actual loan. For example, if your house was bought for $100,000, you would need to pay 20% of the balance to get rid of the PMI, which is $80,000.
You could of avoid the PMI if you make a 20% down payment on your home.
As for your life insurance, that will help pay the mortgage if you die. If your mortgage company is offering you "mortgage insurance" or life insurance, don't take it. The type of life insurance they are offering you is called "Decreasing Term insurance." This is where the death benefit decreases over time, but the premiums may remain the same. This will only cover the mortgage balance. If you have other debts and financial obligations, then get a 30 year level term insurance.
As you can see, you can't substitute PMI for term insurance. They are two different products. PMI is a loan insurance and term insurance is life insurance. |
|
LegattoAD
|
Dude, NO! Life insurance and private mortgage insurance (PMI) are two very different things. Are you sure you know what you're doing? |
|
JB1977
|
It has always been my position that you speak to licensed people to find out what you need. Period. PMI does cover your mortgage and provides a benefit to THE BANK, should you lose your job or become disabled. You need to speak to an agent and see other, more cost effective, or more valuble(to you) coverge options. One could be a term policy coupled with a disability income policy. Or, it could be a whole life policy with a disability income rider attached. You might also want to look into disability income (long-term) through your employer. Any of these options, (and they might not be good for you, you need to speak to a professional first), would give a payout to YOU OR YOUR FAMILY. Is that important? Long story short, talk to a licensed agent in your area, and they can get your exact needs, and wants and can find the right fit for you. Good luck, and congrats on the house. |
|
dryheatdave
 |
PMI should cover lots of things that term life does not cover. I would suggest you find out the legal requirements for PMI first.
Also - make sure you track your loan. I have heard that lenders won't neccisarily tell you when you've paid off enough to stop paying PMI. |
|
mbrcatz
|
It's not going to happen.
Mortgages are a commodity. In order for a bank - any bank - to be able to sell a mortgage, there have to be certain "things" about it. One of those things is, either you have 20% equity (usually by putting 20% down), OR, PMI applies to the mortgage.
Term insurance will NOT fulfill that. Also, PMI doesn't only cover if you die - it covers if you DEFAULT. If you get disabled, term won't do a blessed thing. If you lose your job, ditto. PMI covers things (for the bank only, note) that the term never would.
So your mortgage would have little or no value to a mortgagee - as it wouldn't be sellable - without PMI. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
5 | 9 minutes(s) ago
| | | |
5 | 40 minutes(s) ago
| | | |
5 | 50 minutes(s) ago
| | | |
5 | 54 minutes(s) ago
| | | |
5 | 2 hour(s) ago
| | | |
5 | 7 hour(s) ago
| | | |
5 | 10 hour(s) ago
| | | |
4 | 2 day(s) ago
| | | |
5 | 4 day(s) ago
| | | |
4 | 5 day(s) ago
| |
|
Homepage 
Financial
Forum 
Insurance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
