Mortgage Insurance versus Term Insurance

Your home purchase is probably the most significant investment you’ll ever make. When you arrange your mortgage with a financial institution, they must ask you if you want to insure your mortgage through them. But mortgage insurance from your bank or mortgage lender may not be your best alternative.

Life insurance gives you more options and greater control over your mortgage protection.

Compare these advantages to what happens when your mortgage lender insures your mortgage:

Buying a new home?

When you’re considering a new home it’s also a good time to look at both your insurance coverage and your investment strategy.

• Your home is probably the most significant investment you’ll ever make. We can help you protect that investment with enough life insurance to cover your debts and provide for you family.
• You may also want to think about insurance coverage in case you become disabled or experience a serious illness. Disability insurance provides a stream of income that allows you to continue to meet your mortgage payments while Critical Illness insurance can provide a lump sum payment to keep your finances healthy (if you need to recover from a life-altering illness.)
• Should you pay off your mortgage or contribute to your retirement savings plan? Answers to these and many other questions are available to you when you review your affairs with an advisor. The advisor will provide you with suggestions and options that may help you balance your current obligations while still preparing for the future.