For most Canadians, the purchase of a home is the largest investment they will make in their lifetime. During a time you are already reeling with unexpected fees and paperwork from your mortgage, you will most likely be offered “mortgage insurance”. Your lender will likely strongly recommend this as it will protect that large investment and could keep your family off the street. However, what a lot of new homeowners don’t know is that there are options, including life insurance that may be more beneficial for you. Let’s take a look at some of the differences between Life Insurance vs. Mortgage Insurance.
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This video covers the differences between life insurance and mortgage insurance. It showcases the benefits of life insurance vs mortgage insurance, and will answer the question on what you should get yourself.
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