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Alana's "Financial Food for Thought!"- Video # 1 - Life vs. Mortgage Insurance

Updated: Feb 16, 2023

Life vs. Mortgage Insurance

 

Mortgage Insurance VS Life Insurance


- Mortgage Insurance is designed by the bank for the bank

- Mortgage Insurance is NOT payable to a beneficiary. Upon death, the, money is payable to the bank 100% to cover the outstanding mortgage ONLY, nothing else


- Life Insurance is designed for you – customizable to suite your unique needs and personal circumstances / wants

- Life Insurance is payable to the beneficiary 100% and can be used as the beneficiary sees fit


In summary, if you have mortgage/creditor insurance there is a good chance, you’re overpaying for a product that is not guaranteed to be paid out upon death AND essentially has no other benefit other than paying off an existing mortgage.


Book a discovery call today to find out if you’re overpaying AND to ensure you have the products that protect you and your family!






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