Mortgage Insurance vs. Life Insurance
Mortgage Insurance or Personal Life Insurance? Here’s why Personal Life Insurance is the better option
Your home is the largest and most important financial commitment you will make. Insuring your home in case of the loss of a primary earner may be your top priority. We can help ensure that your home is protected with the insurance that suits your needs.
Below is a comparison chart outlining the differences between Mortgage Life Insurance, offered through your mortgage lender vs. Personal Life Insurance, offered through a Licensed Life Insurance Broker/Advisor.
|LENDER’S MORTGAGE INSURANCE||PERSONAL LIFE INSURANCE|
UNDERWRITTEN AT TIME OF CLAIM
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CBC Marketplace Investigation: In Denial Video
CBC Marketplace conducted an investigation into Mortgage Insurance and the results are extremely shocking. It turns out a routine test at the doctor could be reason to deny your claim, if you don’t mention it. Had a cuff inflated on your bicep? That counts as being tested for high blood pressure. According to the report, the bank staffers selling Mortgage Insurance are not licensed and rarely trained to explain the details and legalities of those Insurance products. The result is people who pay premiums think they are covered, only to realize later that they are not. Please watch this video which demonstrates why Individual Life Insurance through a Licensed Insurance Broker from Life Protection Canada is a much better & safer option than Mortgage Insurance through the Bank.