Mortgage Life Insurance
When you buy a house or renew your mortgage, your lending institution will most likely offer you insurance as part of the package. This may sound attractive to "Get it done all in one stop", but look closely before you sign that dotted line. You could find yourself locked into insurance that does more to protect your bank or credit union than you and your family.
A Better Option - Protect your family and your home with personal insurance
A personal life policy doesn't insure your mortgage. It insures you. After all, you are the one making the payments. A personal life policy provides the protection that works for your needs, now and in the future, providing flexibility to change with you. Did you know that with mortgage insurance from your bank, if you move houses you have to qualify for the insurance each time? With a personal policy, the coverage is attached to you, not the mortgage.
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