- Money paid by the institution is only to cover the mortgage
- The premium remains the same or increases but your goes down as your mortgage
- Limited choice, your mortgage insurance ends at the end of your loan payment
- The institution usually holds your policy as a result, if you want to transfer from bank institutions you will have to subscribe to a new coverage on your mortgage
- When the mortgage ends, the insurance does the same
- Money paid to the Beneficiary determined by yourself
- Term of the protection determined in the contract
- Capital protection remains stable, no matter the payoff of your mortgage
- Choice of different life, disability or critical illness insurance products
- You are in control of your policy since you are the holder
- You can change financial institution without impact on your insurance
- When your mortgage ends, your protection remains valid
Do you really protect what’s the most important for you?
Purchase of housing, protection of the building
Lots of people already notice this, as soon as you buy a home, the bank institution systematically offers you mortgage insurance.
The purpose of this insurance is to protect financially your family and you against a misfortune that could happen.
Mortgage insurance may seem like a good solution.
This is one of the possibilities. But on the other hand, is it the only way, is this the only solution and is it the best solution?
Mortgage insurance works good to cover what it’s contracted for. If you happen to pass away, your mortgage will be covered in full. Although this works fine, would there be a better option?