Category Archives: Insurance

Investing in Life – The SJH Blog

“Mortgage” Insurance vs. Personal Insurance Which is better?

Happy family of four preparing healthy food together at kitchen.

In Springtime, people are often renewing a mortgage…

When taking out a mortgage with a lending institution you should cover off that debt with an insurance policy. Not all coverage options are created equal. Let’s look at the highlights of the two options available to you.


Individually Owned Term Life Insurance:
You own the coverage and choose who receives the death benefit

Mortgage Insurance from lender:
Lender owns the policy and they are the beneficiary

Individually Owned Term Life Insurance:
Guaranteed Premiums Your rates are guaranteed for the life of the policy

Mortgage Insurance from lender:
Mortgage insurance rates are not guaranteed and can increase


Individually Owned Term Life Insurance:
Coverage remains intact if you switch lenders

Mortgage Insurance from lender:
You need to reapply for coverage if you move lenders

Level Coverage Amount

Individually Owned Term Life Insurance:
Coverage amount stays the same even as your mortgage decreases

Mortgage Insurance from lender:
Coverage declines as your mortgage is paid off. Premiums stay the same


Individually Owned Term Life Insurance:
Underwritten at the time of application.
No surprises at the time of claim

Mortgage Insurance from lender:
Underwritten at the time of death, possibility of denied claim.

Reach out to me today if you want to explore the benefits of individually owned life insurance.

Stephen J. Hall, CCS

Financial Security Advisor
Advisor In Group Insurance & Annuities
Certified Cash Flow Specialist
Mutual Fund Representative with Hub Capital Inc.

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