mortgage protection Insurance?
We just had a guy come out to give us a quote on this. The cost per month will be $360. It is not a term life but an Ins that will grow with dividends after 20 years and we can use this ins even if we move to another state. WE are now in our early 50's. My question would be is this wise and be stuck with a paymnet at this age and that we might not be able to pay later? or just put that amount to the mortgage and pay down the loan faster? If I add that amount to my mortgage I will have the mortgage paid off in 15 years rather than 30.What if we decide to retire and move, that paymnet will be the same no matter how much the new home cost, right?