When it comes to mortgage insurance, whether it is for life insurance, disability insurance or critical illness insurance, most people know by now that your bank or lender is not your best option.
It is much better for you to shop and find the best term insurance policy, and this way you are in full control of the policy , and you can name a beneficiary, rather than have your lender be the beneficiary.
If you are a non-smoker, your premium will be much less as well.