Good afternoon, everyone. Don Garlow here, Garlow Insurance. Welcome to today’s version of frequently asked questions. Today’s frequently asked question has to do with life insurance. And the question is, will life insurance cover a mortgage? The answer to that is if you have a life insurance policy and you pass away, the money goes to the beneficiary. The beneficiary can use the money for whatever they want. With that being said, I don’t think it’s a good idea to buy a life insurance policy that decreases. Most people that are buying homes and have children, have an increasing need for life insurance as the years go by, not a decreasing need. So I think it’s not really necessarily a good idea to do that. Buy a life insurance policy that takes a look at all the needs of the family, not just one specific need. So that’s my answer for today. Thanks for watching. And I’ll see you next time.
Call Garlow Insurance Agency in Chesapeake VA at (757) 548-1515