Marketplace: In Denial

[Swede]

Run time: 00:00 https://www.youtube.com/watch?v=qe61HVGIwUo   Posted on YouTube: December 11, 2008 By YouTube Member: CBCtv Views on YouTube: 0   Posted on DU: June 02, 2010 By DU Member: Swede Views on DU: 222

 
I'm sure if banks are doing this in Canada,they're doing it the USA.


If you have a mortgage on your home, chances are good you also have mortgage insurance. The idea is that if you should become seriously ill or die before paying off the mortgage, the coverage will kick in and pay it off for you. It’s meant to offer peace of mind and to reassure you that your family will be able to stay in your home if anything should happen to you.

The reality falls a little short of that. In this week’s Marketplace investigation, we meet two families who bought the coverage and thought they were protected, only to have their claims denied when they became sick or died. In each case, the insurer said the applicant person had lied on their initial application form.

http://www.cbc.ca/marketplace/in_denial/