Featured in
The Globe and Mail
Published
April 30, 2026
By Erica Alini · Personal Economics Reporter
"One more reason to avoid mortgage life insurance"
"For anyone who is healthy and insurable, independent term insurance is almost certainly the better product."
Globe and Mail personal economics reporter Erica Alini cited Gavin Dyer's pricing analysis as the editorial spine of her April 2026 "On Money" column. Gavin compared a hypothetical healthy, 40-year-old couple with a $600,000 mortgage: bank creditor (mortgage life) insurance ran just over $180/month, while two individual 20-year term life policies for $600,000 each cost less than $89/month combined — less than half the price, with double the potential payout ($1.2M vs. $600K) and no restriction on how the benefit is used.
The column also noted the narrow exceptions Gavin identified: mortgage life insurance may be competitive for smokers, and offers higher acceptance rates for people with pre-existing conditions who would be uninsurable through term insurance. Outside those cases, the independent term option was the clear winner.
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