Debt can be a good thing. Think about it. Without loans, most people would not be able to purchase a new car or a home. And let's face it, mortgages and home equity loans can provide much-needed tax deductions. But whenever you take a sizable loan, you should consider what would happen if you suddenly became unable to make your loan payments.
Most lenders require immediate payment of outstanding loans upon death.
That means your loved ones would have to either pay up, or the lender could take possession of your assets. Life insurance can be an economical and effective way to help your loved ones cope with this incredible financial demand. Click on term or permanent insurance to find out what each type of insurance offers homeowners like you. If you re interested in purchasing term life insurance, and would like an instant rate quote for our term products, visit Life Insurance Quotes . Like most life insurance policies, Prudential's policies and contracts contain exclusions, limitations, reductions of benefits and terms for keeping them in force.