Benefits of Personal Life Insurance Over Mortgage Insurance:You own the policy (not the lender).You choose the beneficiary, not the bank.The coverage stays fixed, unlike mortgage insurance which decreases as your mortgage is paid off.Payout goes directly to your family, not to pay off the bank loan.Portability: You keep your policy even if you refinance or move.More flexibility: Can cover more than just the mortgage.Many financial professionals recommend personal life insurance for these reasons. It offers better control, flexibility, and value for you and your family.
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