Today is another reminder how important mortgage life insurance can be when you owe a mortgage loan from a financial institution. It is a good thing for financial institutes to make compulsary for the borrower to take up mortgage life insurance before they approve their housing loan but too bad this rule does not apply 20 years ago.

A friend of mine, her husband was passed away after a fatal accident last week and now she is the only one who responsible everything in the house with 4 children. The oldest is only 15 years old and the youngest is 5 years old. The sad thing is her husband refuse to buy a mortgage life insurance when they purchase a semi-detached house 20 years ago. Now the wife is considering to sell the house and buy another smaller house since she can’t affort continue to pay off the loan.