Life Insurance Required for Mortgage
Many banks will require a life insurance policy to be collaterally assigned to them for the amount of your mortgage. Your bank loan officer will advise if such a policy is needed for your mortgage purposes.
With life insurance, as with any product of this nature, it is definitely worth your while to shop around and check quotes, coverage terms, reputation and customer service strengths of several providers. There are numerous providers who offer life insurance in the Cayman Islands but an independent broker will do the shopping around for you.
Three well-known and respected independent brokers are: