Get a quick quote today for your Mortgage Insurance!
| The pitfalls of buying insurance from your lender are so serious the CBC did a special advisory on why you should NEVER buy your life, disability or critical illness insurance from your Bank, Lending Institution or Mortgage Broker! Watch this Video or visit the original story … ‘click here’Your bank or lender will offer you mortgage insurance and may even make you think it’s required for the loan… do you know why this is NOT the best option for you or your family?
Did you know that most bankers are NOT licensed Life Insurance Agents? In other words… not licensed to give life insurance advice and more importantly – not accountable to you for that advice. In most cases – You will save money and get more life insurance coverage by purchasing an individual term life insurance policy from a Greater Vancouver life insurance broker instead of your lender. Have a look at the Q&A below to see the difference between and the advantages of an individual term life policy to protect your family. |
| Do you Know…? | Your Bank or Lender | Individual Life Policy |
| Do I own my life policy? | NO  |
YES |
| Is my coverage flexible if my needs change? | NO |
YES |
| Can I choose the beneficiary of my policy? | NO |
YES |
| Can my family use proceeds of the policy to cover needs other than the mortgage? | NO | YES |
| Once I pay off my mortgage, will I still have life insurance? | NO | YES |
| Does the death benefit remain the same for the life of the policy? | NO |
YES |
| Can I tailor my plan to meet my needs and situation? | NO | YES |
| Are there any price advantages if I am a healthy non-smoker? | NO | YES |
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Get a quick quote today for your Mortgage Insurance!
