Mortgage Life Insurance

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There are many benefits to having personally owned insurance for your mortgage over insurance through a lender:

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• The death benefit remains unchanged throughout the life of the policy rather than diminishing as the mortgage is paid.

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• If a claim has to be made the benefit is guaranteed.

 

• If you die the benefit will go directly to your beneficiaries rather than the lender.

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• You can choose the type and amount of insurance you want.

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• Your premiums will remain the same for the life of the policy, where as a lender can increase your premiums at the end of your mortgage term.

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• Personally owned insurance is more cost efficient.