The mortgage represents one of those commitments in life – the milestones you pass that let you know you’re growing up. I’ve just completed my first one, and of course now I’ve technically got property of my own (OK so the bank owns it for the next 30 years, but you know what I mean) I’m starting to think about compare mortgage rates and life insurance rates too.
Compare your Mortgage Rates
When I was starting to compare mortgage rates I realized just how useful a broker could be. Not just for finding me stuff I couldn’t get hold of myself, but for giving me the tools I needed to interpret the information myself. For example, the mortgage we ended up getting at a rate of 4.89 percent for two years followed by variable looked annoying to me at first, until I realized that the higher initial rate
(it’s about one percent higher than the variable rate) would prepare us for the payments we’d be making in two years – when the variable rate would potentially have risen.
Life Insurance Rates
So now I’m thinking about life insurance rates in the same way. That is – that just looking at monthly payment figures is not enough to work out which is the best deal for me.
And in this area (I actually found a mortgage on my own in the end, but that was pure luck), I have to admit I’m more than happy to leave the calculations in the hands of the brokers.
Why? Mostly because I have no interest in thinking about my own death, thank you very much. Having just managed to compare mortgage rates and get the right offer, I want to enjoy my new home and all the excitement that offers, without thinking too much about curling up my little toes and shuffling off this mortal coil.
Nonetheless it has to be done. So I am going back to my broker to see what he can teach me about life insurance rates. So if I do have to contemplate the inevitable sooner than I’d like to I will at least know that my wife isn’t going to end up with a mortgage she can’t deal with on her own.
I suppose it’s not until you buy a house and have an estate of your own that you start thinking about all this sort of stuff. I’ve got a will now and everything. Another expense but you can’t help it when you start acting all grown up : )
A note to prospective house buyers, by the way. When you do start to compare mortgage rates, don’t be put off by people predicting doom and gloom if you wait for just a few days to see what else you can see. Yes, mortgage rates change – but that doesn’t mean you should rush into the first deal you get offered because someone else tells you you should. Whether the same applies to life insurance rates, I don’t know. For that, I’m going to have to ask my broker.Google+