Finally! We’ve put together an infographic on personally owned versus bank owned mortgage life insurance. In this infographic, we highlight the difference and importance of personally owning life insurance instead of getting it from the bank.
As most advisors know, having your life insurance tied to your mortgage at the bank is typically not beneficial to the client. (It’s probably better for the bank….) so the key points we cover in this infographic are:
Besides these key points, you may also want to mention critical illness, disability waiver and if underwriting is done at time of claim or issue.
If you’re a subscriber advisor of ours, please let us know if you’d like this infographic to use with your clients, prospects and referral sources such as mortgage brokers and realtors.