Insure yourself, not the bank. Unless you love the bank and broker like you love your kids.

Life insurance is cheaper and better than mortgage insurance.

Mortgage insurance has 4 really terrible features:

1.) Declining balance – as you pay down your mortgage, your life insurance decreases commensurately. You’re insuring the lender aka. the bank. You’re smarter than that and your family deserves better. What an awful feature that is.

2.) Outrageous broker commissions – the broker makes 7 months of premium on the sale. So, if your annual cost is $1000, the broker gets paid 700 bucks!! Wow, that’s a lot of money for doing pretty much nothing. Terrible.

3.) Not portable – if you switch your mortgage to another bank… bye bye life insurance. Now you have to get it again…. What if your health changed and you can’t get life insurance? The bank and broker don’t care, they just want their commission. This just gets worse and worse.

4.) Underwriting takes place upon death – this one is a doozie!!! If you’re not convinced after this point I would be surprised. So, you buy mortgage insurance and think you’re covered. You die from some illness, the insurance company turns around and says we would not have insured you in the first place!! Hence, No payout!!! Your family gets hosed. Wow, that’s shameful.

Mortgage insurance is great for the broker that sells you the house. The commissions are huge on mortgage insurance. So, between the bank and the broker, you’re getting hosed. Is there a better and cheap alternative?

Absolutely!! Buy term life insurance from

We smoke mortgage insurance all day long!! Don’t wait till it’s too late. dropdead term life insurance is the best and cheapest life insurance solution you could wish for.