1) GREATER CONTROL: you own the policy and you can appoint the beneficiary who will determine how the death benefit is used
2) CAN CHANGE BENEFICIARY: you can change the beneficiary anytime if you have elected a revocable beneficiary
3) NOT LINKED TO LENDER: if you want to change your mortgage provider the insurance protection is separate from the lender
4) CONVERSION OPTIONS: you can select a policy that has a conversion option that will grant you the option of changing the coverage to permanent protection in the future regardless of health
5) COVERAGE LEVEL VERSATILE: you can purchase any amount of coverage and add or decrease coverage at anytime
6) PREMIUM GUARANTEE: you can select a policy that has guaranteed premiums
7) ADDITIONAL PROTECTION IF BECOME ILL: if you become terminally ill and can't pay your mortgage payments but can still make the insurance payments you policy will pay the death benefit
8) BENEFIT REMAINS LEVEL: death benefit does not increase as mortgage decreases unless you request the coverage to be decreased
9) POSSIBILITY OF TWO DEATH BENEFITS PAID: if you elect to cover both yourself and spouse then both death benefits will be paid out in the event of a common disaster

1) MEDICALLY UNDERWRITTEN: in most cases you will have to go through medical underwriting and be approved which sometimes may take a period of time and you could be declined
2) PREMIUMS INCREASE AS YOU GET OLDER: depending on the type of policy you select, for instance 10 year term the premiums will increase at certain predetermined intervals, this will be outlined in the contract