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Mortgage Insurance

The comparison of getting mortgage insurance from bank or insurance company:

1-Always remember, When you purchase a new home or renew your mortgage, instead of hastily taking mortgage insurance with your bank or trust company, where the bank or trust company becomes the beneficiary, always consider your options and compare the benefits offered by us and your bank.

2. Loan approval and mortgage insurance plans are not the same. They are distinct products. Mortgage insurance can be purchased from a company other than your loan provider, so you retain control of your plan.

3- Mortgage Insurance from bank has reducing term insurance that just covers the principal of your mortgage, but the insurance company never reduces your insurance as the time lapses.

4- Beneficiary gets full face amount In case of any mishap.

5- Another benefit of getting mortgage insurance from insurance company ha creditor protection, it means the beneficiary has control over its protection where to use. No company or bank can claim this amount.