Is mortgage or term life insurance the best choice for you?
Whether buying your first home and applying for your first mortgage or renewing an existing mortgage, you have probably been asked by your lendor about mortgage insurance.
Mortgage insurance is offered by most lendors and it pays the balance of the mortgage if the person listed on the mortgage passes away.
Term life insurance will take into account the balance of your mortgage plus any other expenses your loved ones may have if you should pass away.
Depending on your age and health, the premiums on mortgage life insurance can be much higher than what you would pay for a term life insurance policy.
Do some research and talk to your insurance provider to see which option is best for you.