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Toni Said:

In Canada is the purchase of Life Insurance from your lender compulsory? (Not referring to CMHC Mortgage ins.)?

We Answered:

It's not compulsory, and they are by rights supposed to clearly indicate that on the paperwork.

You are correct that the insurance is a bad deal, it's some of the highest insurance going, and costs the same each month whether you pay down the debt or not, yet only pays the mortgage owing at time of death. Bad deal.