If you’re interested in mortgage life insurance read this article by the Toronto Star.
The mortgage insurance offered by some banks isn’t too hot when compared to regular term life insurance.
The Mortgage Protection Plan offered through mortgage brokers is a bit better. According to MPP, it’s both portable and “33 per cent cheaper per dollar of coverage over a 25-year mortgage term.” That, of course, assumes you will need mortgage insurance for 25 years.
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