Do I need mortgage life insurance?

I live in a town-house and I am about to purchase a detached house. I currently have enough life insurance to cover my townhouse mortgage, but this new home purchase will increase the amount I owe. My bank is recommending mortgage life insurance. Should I take out a policy? Mortgage life insurance is designed to[…]

Do I need mortgage life insurance?

ASK MONEYSENSE: I live in a town-house and I am about to purchase a detached house. I currently have enough life insurance to cover my townhouse mortgage, but this new home purchase will increase the amount I owe. My bank is recommending mortgage life insurance. Should I take out a policy? Michelle Imbeau, Port Moody,[…]

Home safe home

Six short feet. That’s how close Bruce Ritchie came to dying one October morning two years ago. Bruce and his wife Marilyn had arrived at their daughter’s Georgetown, Ont., house in the wee hours of the morning, after a frantic call from their son-in-law, Pete. Their very pregnant daughter Allison had gone into labour and[…]