When assessing the financial viability of single-premium mortgage life insurance, the sticker price of the premium is rarely the actual amount you end up paying. Because this type of policy requires the entire premium to be paid upfront, most homeowners do not pay this lump sum out of pocket. Instead, they roll the cost directly into their home loan. This convenience comes with a significant financial catch that alters the true cost of the coverage over the lifespan of the mortgage.
