most of the statements on here i agree with so far....but, you'll all notice i said CHECK REQUIREMENTS. just b/c you get mortgage insurance doesnt' mean its the same across the board for every single company.
my company offers life coverage only but the premium declines with the balance. YES there is a health questionairre and if you die of one of the 7 things on that list (HIV, heart disease etc...) then you're not covered. but thats why the premium declines.
its definatley a rip off to pay for mtg insurance where the premium doesn't decline. giant waste of money.
all i'm saying is do your research. those are the questions you need to ask. if your mtg is thru a company that offers a crappy deal on life or dis coverage then do'nt take it.
that simple.
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