theres pro's and con's to a banks life/dis insurance policy. personally my institution does not offer disability. we do offer life tho. and it's pretty cheap. however, you do have to answer a health questionaire.
in a way it's a waste of money but in a way it's not.
the good thing about it is its less money out of your outside life insurance policy to pay off your mtg.
so, your beneficiary would get more money in the end b/c the outside life policy for your mtg would pay off your mtg, but it also depends on how much they are charging you per month for it.
definitely shop around and check out the requirements.
you want to also evaluate your current life situation. if you are single no spouse or kids, then just get an one policy thru one insurance agent to cover everything. but if you have a spouse or kids, i would heavily consider (again pay attention to requirements and cost) buying the life policy thru your mtg holder.
can't say much about disability b/c again my company doesn't offer it, however, i do have a few mtg's in my collection que right now that aren't working b/c they hurt themselves and are on WCB.
you just never know what can happen....thats all i'm sayin.
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