Best Way to Buy Mortgage Insurance

Before buying insurance from your bank to cover your mortgage, please consider your options.

What does the insurance cover?

• From the bank: only the balance of your mortgage
• From us: whatever you need it to cover such as debts, line of credit

What happens as my mortgage balance decreases?

• From the bank: the coverage amount decreases as your balance decreases.
• From us: the coverage stays the same for as long as you own your policy

What if I switch banks?

• From the bank: You might lose your coverage and need to reapply
• From us: Your coverage stays the same, since it’s not tied to your mortgage

Who gets the benefit if I die?

• From the bank: The Bank
• From us: You decide who gets the insurance and how to use it, such as to pay your mortgage, medical expenses or child’s education- whatever is best for your family

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