Mortgage Insurance Explained
Enclosed is a brief video showing 3 ways and reasons to save money on your bank mortgage insurance.
- Do you want to receive the discount available for being a non-smoker? At banks, smokers and non-smokers pay the same rate. This is a great deal for smokers, btw.
- Do you want your family to receive the insurance proceeds and decide how best to use the money, or do you want the bank to be your beneficiary?
- Did you know that as you are working hard to pay off and decrease your mortgage, the amount your family is covered for is also decreasing?
There is an mortgage insurance calculator to the right. If you know how much your monthly mortgage is, you can quickly enter the information yourself and calculate how much money you will be saving a month.
For a more detailed comparison between private and bank mortgage insurance see Mortgage Insurance 101.
I created this video for our sister investment site – tsfinancial.ca, but all the information is valid.
For more information ask for Harold, Myles or Sandy at 403-228-7966 and ask for our mortgage comparison package.Share