Mortgage Insurance

Your insurance should protect you, not your bank.

Mortgage insurance is designed to protect the bank. Protecting your mortgage with life insurance protects you.

Are you aware of the difference?

Let's take a closer look at how personal life insurance compares with the mortgage insurance that's offered by most lending institutions.

Lending Institutions' Mortgage Life Insurance

• Decreases as your mortgage is paid down
• Premiums remain level, even though your mortgage is decreasing
• Terminates when your mortgage is paid off
• Proceeds are paid directly to the bank
• The lending institution owns the policy
• You cannot switch your mortgage insurance to another lender. If you find a better rate, you may have to re-qualify medically for the mortgage insurance protection.
• Premiums are determined by the lending institutions insurance provider and based on the value of the mortgage

Personal Life Insurance

• Coverage remains level for the duration of the mortgage
• Premiums remain level, while your coverage remains level
• Coverage remains in effect after your mortgage is paid off
• Coverage is paid directly to your beneficiary and used according to their needs
• You own the policy
• You are free to switch your mortgage while maintaining your life insurance coverage
• Premiums are determined by the insurer and are based on many factors including insured amount, age, health and time frame. Often personally owned life insurance cost less than mortgage insurance

Contact our office today and let us help you build a life insurance plan that will protect you and your estate.

info@c2inc.com or (905)332-6633