Scott Peckford – Why life insurance on your mortgage is a bad idea
June 27th, 2010
Life insurance is the type of thing you buy and hope you never need. Unfortunately not all types of life insurance are created equal. One type of insurance I do not like is “Creditor Insurance” it is when you have life insurance on on a loan or mortgage. There are several potential problems with Creditor Insurance. In this video I talk about the problem a young family could face if they choose Creditor Insurance instead of getting life insurance separate from their mortgage. Oh, and always use someone who is licensed in life insurance. Don’t ever buy it from your banker or broker. Disclaimer: If you currenlty have Creditor Insurance and want out -do not cancel it until you talk to a qualifed life insurance person. 
Tags: 