Mortgage Insurance Vancouver BC
For most of us a obtaining a mortgage is a necessary part of making the biggest financial investment of our lives—buying a home. The financial institution granting the mortgage will usually try to sell you mortgage insurance to pay out the mortgage, if you die.
Your best value in securing this protection comes from purchasing private term insurance. Acquiring a private term insurance policy has value beyond price, including the following advantages:
- It’s your policy, therefore you have complete control
- It protects you, not the bank
- Policy is owned by you and does not decrease with reduction in mortgage
- Policy can only be cancelled by you
- Fully transferable
- Fully convertible (life portion)
- Premiums fully guaranteed
- Insured even if mortgage is in default
- Portable – your insurance can move with you
- Automatically renewable.
- You can change homes without any need to re-qualify for new coverage.
Contemplating buying a home with a mortgage – let’s talk first!