Get Mortgage life insurance that protects you, and your loved ones at the best price, not mortgage life insurance sold by your bank at an exorbitant markup for THEIR profit, and protection!
The mortgage life Insurance solution that your lender will try to sell you may not be the ideal solution for you. Insurance should be designed to support your loved ones. However, unless you consider your bank a “loved one”, you might want to consider another option.
An individually owned term insurance plan whether it’s T10, T20 or 30 year term, offers you better guarantees, a cheaper mortgage term insurance quotes and most importantly, the coverage does not decrease with every mortgage payment you make, as it does at the bank.
Best of all, in a Mortgage Term Insurance Policy you can designate who you want as beneficiary, and they will get 100% of the Mortgage Term Insurance money, and they can decide how to use it. Your beneficiaries will be able to pay off the mortgage and keep the difference.