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We use only Level term life Insurance,. Some insurance companies use a decreasing term instead of level term. This type of Mortgage insurance protection allows the death benefit to decrease as the mortgage balance decreases.
A level term life insurance policy provides more protection because any positive difference in the policy death benefit and the remaining mortgage balance is paid directly to your beneficiary so that the additional insurance money may be used by your beneficiary to help cover any other final expenses, or loss of income needs.
A paid off mortgage means your surviving family will have the deed to their home, not the continued burden of a monthly mortgage payment.