Why do we offer this product?
Because term life insurance covering the mortgage loan can be an attractive option for borrowers who have significant financial responsibilities and who want to protect their family against the financial consequences of premature death. This may include young families with dependent children, couples with a single source of income, or people with large debts.
In the event of the borrower’s death, term life insurance covering the mortgage loan can help ensure that the borrower’s family is not left with unpaid mortgage debt or in financial difficulty.
Better rates : Premiums for independent mortgage insurance can often be lower than those offered by the mortgage lender, as competing insurance companies
can offer more competitive rates.
Transferable warranty : Unlike lender-provided mortgage insurance, independent mortgage insurance is often transferable, meaning you can keep coverage if you change lenders or homes.