Posted on May 27, 2016
1stSgt Operations Manager
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Posted in these groups: Insurance_logo Insurance
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Capt Tom Brown
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Edited 3 y ago
USAA is the first one that comes to mind. Check & see if they offer it. USAA has been very dependable and reliable for us over a number of years and their rates are hard for anyone to beat.
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CPT Jack Durish
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I use USAA for all my insurance needs. "Mortgage insurance" is nothing but life insurance that is "dedicated" to pay off a mortgage in the event of death (although such insurance proceeds may be used for any other lawful purpose). Why USAA? The rates are competitive (usually unbeaten) and the service is excellent (never surpassed)

...and no, I don't work for USAA or have stock in the company. I'm just one really happy customer of many years. In fact, I consider my USAA membership one of the best benefits I ever received for serving
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1stSgt Operations Manager
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3 y
Thanks Skipper.
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CAPT Kevin B.
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Edited 3 y ago
Make sure you need that specific coverage vs. other life policies. In general, nothing beats SGLI basic. There are a number of things which beat the SGLI add ons if you're in reasonable health. What you have to determine is what cash flow do you want upon your death which may include paying off a mortgage. Consider a policy that you can cash in later presuming you make it to later. It's a good way of legally laundering some money as you get taxed on your income annually, but the payout is tax free. I found that to be a good thing to do. If I recall, I did a $350K policy at $1K/month, plan to pull it out after 15 years ($215K total into it), and get around $180K back tax free. You'd spend much more than $35K in taxes and you get the benefit of the coverage all along. Typical mortgage insurance doesn't give you anything back. Run the numbers with a good financial advisor. I'm sure your answer is in there.
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MSgt John McGowan
MSgt John McGowan
3 y
Capt. Good advise. I look back and wish i had done something different. There is no do-overs.
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1stSgt Operations Manager
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3 y
Thank you, Sir.
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