Pearson & Company Insurance, Inc 601-482-6699
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Let Pearson & Company Insurance help make sure you're fully protected when your buy your new home in MS or AL.  When you purchase a new home, you're often urged to buy mortgage life insurance or private mortgage insurance, also known as PMI.  However, these policies have limitations that homeowner’s may not like- or even be aware of. 

Mortgage protection insurance leaves out loved ones
With mortgage protection insurance, the mortgage lender is the beneficiary of the policy.  If the policyholder dies, the proceeds go directly to their lender to pay the mortgage (up to the amount of the policy).  Although this does relieve the family of one major financial burden, it does not provide the family with any options- or money.

Term insurance provides more choices and is more affordable
With term insurance, the policyholder’s beneficiaries will receive the proceeds of the policy tax free, which they can use any way they like.  For example, in today’s low mortgage rate environment, if they decide they want to use the money to pay off high interest credit cards instead, they can.  Other common uses include paying for college, building a retirement fund, making home improvements, or covering final expenses.

Additional advantages:
- Term life insurance is generally more affordable than mortgage protection insurance
- Standard term insurance offers a level benefit and a level premium for the term of the policy.  On the other hand, with mortgage protection insurance, the premiums may remain the same, but the value of the policy decreases over time as the balance of the mortgage goes down.

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Contact Pearson & Company Insurance at 601-482-6699 for your complimentary quote or email

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Pearson & Company Insurance, Inc.
2210 13th Street
Meridian, MS 39301

Phone: 601-482-6699
Fax: 601-482-1526
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