Mortgage Insurance Versus Life Insurance

If you are a new home owner, congratulations! Buying a home is no small feat. By now, you are likely paying for or have heard about something known as mortgage protection or the big banks’ mortgage life insurance. Sound familiar? Many Canadians sign up for the banks’ mortgage insurance as a necessity. You see, the Canadian Mortgage and Housing Corporation (CMHC), has made it mandatory for any would-be homeowner who is putting down less than 20% as a deposit on their home...