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The One Thing Home Buyers Overlook When Purchasing a New Home

The One Thing Home Buyers Overlook When Purchasing a New Home

September 14, 2022


After searching and searching, you've finally landed on your dream home! You've gone down your check list:

✅ Had a mortgage loan approved

✅ Completed inspection

✅ Sat in Escrow for what seemed like FOREVER

...but one big thing is missing - a Life Insurance policy. But why would Life Insurance be important for new home owners?

A life insurance policy can help in more than one way, should something happen to you.

Let's face it - talking about our own demise is not the sexiest of subjects, and it's for sure not an easy thing to talk about - but in some situations, it's really important to think about what might happen SHOULD you pass on. Home ownership comes with a hefty price tag! Luckily for us, that price tag can be spread out over a few decades in the form of a mortgage...but what happens when part of the money you use to pay for that mortgage suddenly disappears? That's where a life insurance policy comes in!

It's important to keep in mind that any debts that we are associated with while we're around are passed on to our loved ones in the event that we pass away. The payout, or Death Benefit, from a Life Insurance policy can be used for multiple things:

First, it can help to keep mortgage payments on track. Your home is usually your largest asset AND your largest financial responsibility; if something happens to you, that responsibility is passed on to those closest to you.

Second, it can offer peace of mind to your loved ones. The burden of losing you is sad enough - the last thing you would want is to add to that burden with additional financial responsibilities that your family isn't prepared to take on. The payout from a Life Insurance policy can create a financial cushion for your loved ones and help them feel more at ease.

Lastly, it can help to keep your home your home. A major event can shake things up for families and friends. A Life Insurance policy can help to keep SOME things the way they were. It can help keep your loved ones where they are, keeping them from having to uproot their lives because they can't afford to stay. It can help them to live as normal a life as possible, all things considered. 

Buying a home is such an accomplishment! You've worked SO hard to get to where you are, and you deserve everything you've put into that moment - help protect your home so that you and your loved ones can continue to enjoy it for the years to come. To learn more and discuss what protection might be best for you, schedule your complimentary Discovery Call today.