- December 1, 2013
- Posted by: Brian Poncelet
- Category: Approved, Life Insurance, World News Insurance
Let’s start of and make a few points.
If you leave the TD Bank ….your coverage is gone!
If you pay off your mortgage…your coverage is gone!
If you sell your house … your coverage is gone!
What about price?
If two or more borrowers are insured with Life Insurance, a 25% discount will apply to the sum of the total Mortgage Life Insurance premiums.
For example, if you are 34 years old and your spouse is 36, and you are applying for a $100,000 mortgage, your monthly insurance cost would be:
for You: Cost
for Spouse: Your mortgage amount:
($0.14 + $0.21) X $100,000
= $35.00 less 25% discount = $26.25 per month† From TD web site