Why you should not get mortgage insurance with the bank

December 14, 2012 10:54 am Published by

CBC Market in Denial – Mortgage Insurance

If you need insurance to cover your outstanding mortgage balances, contact me to assess the various options available to you to ensure you understand the pros and cons of each option.  Where your medical history permits it, it is generally preferred to have your own non-bank insurance policy which has been issued only after the insurance company has completed its medical underwriting in advance.  Not only will you gain a greater certainty that your insurance coverage is in place in the event of a claim, you may also experience a lower cost of insurance in comparison to a bank-issued mortgage insurance.

Call me at 604.789.3888 or at marco@mgfadvisory.ca if you need insurance to cover your mortgage, or you wish to replace a bank-issued mortgage policy.

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This post was written by Marco Faccone