8 Good Reasons Why You Should Not Buy Mortgage Insurance From A Bank
Before you say yes to mortgage insurance from your bank you should know that you have other options. Protecting your mortgage with an individually-owned term insurance plan, offers you and your loved ones better guarantees and more choice.
Quite simply, an individually-owned term insurance plan provides better value, more flexibility – and in most cases - a lower cost.
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Barrons |
Most Lenders |
| If I pay the premiums, do I own the policy? |
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| Is the coverage guaranteed? |
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Can you name a beneficiary
other than the bank? |
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Can I do something with the insurance
proceeds other than pay off the mortgage? |
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Do I get a special rate if I’m in
great health
and don’t smoke? |
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Can I keep my insurance if I
pay off
my mortgage? |
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If I change banks to get a better
rate can
I keep my insurance? |
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Can I convert my policy to permanent
insurance if I become uninsurable? |
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Barrons has a variety of Life Insurance solutions that can be used to protect the investment in your home.
Learn how Critical Illness Insurance can be used to protect your home.
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