Mortgage Insurance. Most people have it. But do you know exactly what you have? Who receives the proceeds? And the most important question…will it pay out?
Some of the benefits of purchasing mortgage insurance through an independent insurance advisor:
The cost and amount of coverage stays the same
Monthly costs are lower for applicants in fair or better health especially, if you don’t smoke
The death benefit is paid directly to the beneficiaries, not the lender
Coverage can be extended past the length of the mortgage
It’s fully portable to the next home you purchase