I have to re-post this CBC Marketplace Expose on Bank Mortgage Insurance. I met with a couple about a month ago who were denied their Bank Mortgage Insurance claim. We met to apply for a life insurance policy that can never be cancelled by the insurance company. We applied so this would never happen to them again.
The key to remember is the banks are not licesnsed to sell mortgage insurance or life insurance. You must speak with a licensed life insurance agent like myself to obtain proper insurance. Say no to your bank mortgage insurance. You are not required to purchase it.
