In this article, I will talk about life insurance for Mortgage
How is mortgage insurance working?
A lot of people buy houses these days due to affordable interest rates and with the mortgage there is the mortgage insurance option which we would expect to cover us in case of unexpected. The reality is that this is not an underwritten product and you can get the surprise to not be covered when in need.
Check this CBC report to learn more:
What type of life insurance should I get for mortgage?
You should get an underwritten type of insurance, which could be:
-term insurance or no medical term insurance
-whole life insurance ( simplified whole life)
-mixed of whole life with term rider
Any of these life insurance options will get you proper coverage and the price of term insurance is comparable with the ones of mortgage insurance.
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