Life and disability mortgage insurance is more advantageous when you subscribe personally rather than with your financial institution.
There are seven key benefits to buying insurance “Individually” rather than with a financial institution:
1. The premium, in most cases is lower
2. Risk selection is made before issuing the policy, not after. Therefore, there is no risk of not being paid in the event of your death;
3. The premium is guaranteed for the entire length of the contract;
4. If your health changes along the way, you are not bound to the creditor;
5. The death benefit is paid to the designated beneficiary, not to the creditor;
6. Insurance remains in force even if there is a change of lender;
7. You are the owner of the policy so you can continue your coverage even once you have fully paid your mortgage
If you would like to know the cost of a personal life insurance policy, I invite you to use the online quoting tool that we have at your disposal. You can see the premium proposed by all the insurers in the market and you can compare to get the best offer. Here is the link to the online quotation tool : http://acyva.com/en/products/life-insurance/
If you have any questions or would like to subscribe to a life insurance policy please contact us; one of our advisers will be happy to assist you.