Chances are if you have a mortgage you have also have mortgage insurance. The idea is that if you die before paying off the mortgage, the coverage will kick in and pay it off for you. It’s meant to offer peace of mind and to reassure you that your family will be able to stay in your home if anything should happen to you.
As this video produced by CBC’s Marketplace illustrates, if you have purchased your coverage from your bank in conjunction with your mortgage, the reality falls short of that. Contact us for more information or pricing on personally ownedinsurance coverage.
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Special Bulletin
MORTGAGE INSURANCE + BANKS = BEWARE!
Chances are if you have a mortgage you have also have mortgage insurance. The idea is that if you die before paying off the mortgage, the coverage will kick in and pay it off for you. It’s meant to offer peace of mind and to reassure you that your family will be able to stay in your home if anything should happen to you.
As this video produced by CBC’s Marketplace illustrates, if you have purchased your coverage from your bank in conjunction with your mortgage, the reality falls short of that. Contact us for more information or pricing on personally owned insurance coverage.
Click here to watch: CBC Marketplace – In Denial