Pro and con of credit time insurance on mortgage?
Answers:
It's expensive, and does nothing to help the entity paying for it.
Define the goal first, then start shopping around for the product that BEST meet that goal at the lowest cost.
I've never met ANYONE who's main dream was protecting the lender first, before themselves. Source(s): agent, 21+ years
It tends to be expensive. You can find better rates if you search elsewhere - especially if you are contained by good health.
It may also not do what YOU want. It pays sour the lender. If you have a family, you may want them taken thoroughness of first.
Pro: It protects the lender in case something happen to you.
Con: It protects the lender in case something happen to you.
It does very little for you as a borrower. Most borrowers who purchase it don't really understand what they are buying, or what it does. If you touch like your family requirements some sort of protection from something catastrophic, then buy a term go policy.
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