Before buying insurance from your bank to cover your mortgage, be sure to consider your options.

What does the insurance cover?

  • From the bank: only the balance of your mortgage.
  • From us: whatever you need it to cover, including other debts, lines of credit, final taxes, funeral costs, leaving money for your loved ones.

What happens as my mortgage balance decreases?

  • From the bank: the coverage amount decreases as your balance decreases.
  • From us: the coverage stays the same for as long as you own your policy.

What if I switch banks?

  • From the bank: You might lose your coverage and need to reapply.
  • From us: Your coverage stays the same, since it’s not tied to your mortgage.

Who gets the benefit if I die?

  • From the bank: the bank
  • From us: You decide who gets the insurance and how to use it, such as to pay your mortgage, medical expenses or child’s education- whatever is best for your family

Talk to us, we can help.