Why Is It A Good Idea To Get More Life Insurance After Getting A New Mortgage? 
That is a great question ! If you increased your mortgage , and there is a chance of leaving that debt behind , then it might be a really good idea to add a policy or increase your coverage to hedge against that risk . Knowing that your new mortgage is probably putting a dent into your available funds , I 'd suggest that you look into a term life insurance policy in an amount that would cover the amount of the new mortgage cost . Term policies will be much cheaper than a whole life policy would be , and there is really no reason for the extra expense of the insurance once the mortgage is paid off . A term policy lasts for a specified period of time , and then ends , which makes it perfect for this kind of need . Look for a straight term , or decreasing term policy to cover the mortgage debt . I 'd advise you to find a good independent agent in your area , maybe your homeowners or auto insurance people are a good place to start , if it will earn you discounts on those policies also . Any reputable life insurance agent can hook you up also . If you have any questions on term policies , please feel free to contact me , okay ? I 'm happy to help . Thank you for asking ! 