Mortgage Insurance is a group insurance that's typically marketed towards homeowners who may be concerned that an unexpected death or illness could leave their loved ones in a difficult position of financial hardship.
Better Mortgage Life Insurance is individual insurance that can perform a similar function for you, but isn’t tied directly to only covering your mortgage. It’s designed to provide your beneficiaries with money in the event of your death. Its flexibility allows your beneficiaries to use the money for whatever purpose they wish.
Why get Better Mortgage Life Insurance vs Mortgage insurance from a bank?
1. It costs you less!
2. It's a fast, easy and a safe way to purchase mortgage insurance directly on-line here.
3. You own the policy. It stays with you and you get to choose the beneficiary.
4. Your payments stay the same for the term.
5. The benefit doesn't decrease as you pay down your mortgage - unlike at the bank!
6. There is no need to requalify for insurance when you change your bank or mortgage provider.
7. Renewable without needing to requalify for insurance.
8. Convertible to permanent insurance without needing to requalify.
9. Questions? Professional life insurance-licensed advice is always available .
Note: Better Mortgage Insurance is underwritten by Assumption Life