June 21, 2018

Is Mortgage Protection Insurance A Good Idea?

Mortgage protection insurance is a form of life insurance that covers your mortgage debt if you die or become disabled.  It is a very popular sell by the banks because you can just add the premium to your mortgage payment. So you ask, isn’t this a good thing?  Well most people in the industry would say no for the following reasons: As your mortgage decreases, so does your payout because it only covers the outstanding mortgage balance however your insurance premiums remain the same The monies go directly to the lending institution and not to you to decide how you…

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