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Old 06-19-2006, 12:26 PM   #12
Sylvanfan
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Join Date: Sep 2002
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Yeah, instead of Mortgage insurance I think you're better off going with term life coverage instead. If you die 10 years into the Mortgage your policy is worth whats left on the Mortgage. If you can get term life for the same cost you still get the full coverage amount whether you die 1, 2, or near the end of the term. Mortgage insurance is nothing more than profit insurance for the bank.
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