Life Insurance for your Mortgage

Life Insurance for your Mortgage

 

Is your mortgage insured with your bank/lender? If so, the bank/lender is your beneficiary. For a $100,000 mortgage, you pay the premium for the life of the mortgage based on the total. The premium never goes down even though your mortgage does. The bank/lender can raise premiums or cancel insurance at any time.

 

Term insurance is usually cheaper and covers the full mortgage for the term of the policy. The premium never goes up and if anything happened to you, your beneficiaries get total coverage tax free to be allocated at their discretion. Term policies are competitive, portable and flexible. Would you like your premium payments to cover you or your bank/lender? Call today, to schedule your complimentary financial review.

 

Deborah Chambers

Financial Advisor

 

Edward Jones

2895 St. Paul Ave. Niagara Falls

 

905 351-1667 or 905 357-0181