03/02/2026
Important thing to know about Mortgage Insurance
Mortgage Protection Insurance: Often offered by banks during the signing period, this covers payments if you die or become disabled. Critics agree this is poor value because the coverage decreases as you pay down your mortgage, while the premiums stay the same. It often only covers the bank, not you.
Alternative: For life insurance, it is often better to get a personal term life insurance policy. It provides better coverage and flexibility, often at a lower cost.
Risk of Denial: Mortgage protection insurance sold by banks is often approved at the time of sale but underwritten at the time of claim. If you made a mistake on a health question, your family might not get a payout.
Simply put, I can help you be covered in that scenario!! Get a better rate and guaranteed coverage by calling me today!!
