What is Mortgage Insurance?
Is a new home on the horizon? You don’t have to say ‘yes’ to mortgage insurance from your bank – there’s a better way to protect your financial future.
When you are purchasing a home, you do have insurance options. While you may be focused on choosing the perfect house or securing an ideal interest rate, your bank will offer to sell you mortgage insurance. But you can make a choice that benefits your family with better features and more flexibility than traditional mortgage insurance – often at a lower cost. FaithLife Financial’s Term 10, 20 or 30 life insurance may just be the answer.
Some key advantages of individual life insurance over mortgage insurance:
- Affordable and competitive rates
- You name your beneficiary
- Coverage moves with you
- Can outlive your mortgage