Many homeowners assume life insurance and mortgage insurance are the same, but they actually serve very different purposes.
Mortgage insurance is designed to pay off your home loan if you pass away—but the payout goes directly to the lender. Life insurance, on the other hand, provides money straight to your loved ones. They can use it to cover mortgage payments, everyday living expenses, or any outstanding debts.
Term life insurance is often a more affordable and flexible option. It offers wider protection and can be adjusted as your family’s needs change over time.
Choosing the right coverage helps protect your family’s future and gives everyone greater peace of mind.
