10/13/2026
If you have a mortgage, you need to hear this because it can save you a lot of money.
There is a difference between mortgage loan insurance and mortgage life insurance. And I don’t care if you bank with TD, CIBC, RBC, or BMO.
With mortgage loan insurance, the bank owns the contract and is the beneficiary. It only covers your mortgage.
But with mortgage life insurance, you own the contract and you get to choose your own beneficiaries, which could be your spouse or your children.
For example, if you have $1 million in coverage and something happens to you, your beneficiaries receive 1Millon dollars coverage amount. Your family can use part of that money to pay off the remaining mortgage and keep the rest for their other financial needs.
Your mortgage life insurance also covers all the debt that you may have including student loan and car loan.
And if you own a home but don’t have any protection in place, you are putting your family’s home at risk if your family cannot keep up with the payments.
your children could end up losing the home you work hard to get.
And I have created a mortgage insurance guide to help you learn more about mortgage life insurance and how you can get a quote.
Comment “MORTGAGE” and I’ll send you my free guide.