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There’s no doubt, your home is likely the largest purchase you’ll ever make. If you arrange your mortgage through the bank, it is their responsibility to ask you if you want to insure your mortgage through them. While it’s easy to say yes, it’s a good idea to explore your options thoroughly first. Mortgage insurance is a good idea for some, but there could be a better option – life insurance. Let’s look at each closely and compare them for their drawbacks and their benefits.
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Most people assume that estate planning is for the elderly, and for most people, it is. That is, your estate won’t be settled until after you pass, and most people’s lives tend to expire later on in life. But sadly, this isn’t the case for everyone. Some of us die long before our time, or become too ill to function. If you’re not prepared ahead of time, then you’ll have no control over where your assets go.
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So you’ve finally gotten down to “buy life insurance” on your life’s to-do list. But does your agent or broker sound like they’re speaking another language? Well, he or she is. But here’s the layperson’s guide to understanding some of the key – or confounding – terminology. First off, there are two basic types of life insurance, term and permanent.
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You should get life insurance. Really, you need it. Everyone tells you this. But the problem is, they never tell you which kind they’d recommend. In fact, there are a few types of life insurance products available on the market, and they fulfill different needs.
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No one wants to think about death or debt, especially in combination. But unless you have something lined up, your death could be a financial burden to the ones you love most. If you have debt, it might be time to consider life insurance. Here are 10 insurance-related myths, debunked, to help you decide whether or not life insurance is right for you.
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Want to know what the outlook is on mortgage rates for the next 30 to 40 days? Our panel of mortgage experts share their views on Canadian Mortgage Rate Trends.
Panel Consensus
May 2012
