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Mortgage Solutions

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.

Most Lenders
If I pay the premiums, do I own the policy? 
Is the coverage guaranteed?  
Can you name a beneficiary
other than the bank?
Can I do something with the insurance
proceeds other than pay off the mortgage? 
Do I get a special rate if I’m in
great health and don’t smoke?
Can I keep my insurance if I
pay off my mortgage?
If I change banks to get a better
rate can I keep my insurance?
Can I convert my policy to permanent
insurance if I become uninsurable?

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.