Before you accept creditor mortgage insurance offered by your lender, take the time to consider Individually Owned Term Life Insurance designed to protect you and your loved ones, not your lender.
|Individually Owned Term Life Insurance||Creditor Mortgage Insurance|
|Client is the policy holder.||Lender is the policy owner.|
|Premiums based on age, health, and smoking status.||Premiums based on a pool of everyone involved.|
|Coverage can be changed and chosen by you.||Coverage cannot be chosen, altered, or converted.|
|Coverage is guaranteed for life.||The lender can cancel the policy at any time.|
|The benefit goes directly to the beneficiaries to allocate how to best use the money.||Death Benefit goes directly to your lender.|