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,[…]