Most people don’t know that some banks don’t send the update amount in debt to the insurance company. That happened to me. I payed for 6 years my monthly loan payment to the bank and although the amount I owed the bank was decreasing every year, the bank never updated that amount, meaning 6 years after being paying for my loan I was still paying the term life insurance as if I still owed the initial amount.
Check your situation, you can save a few dollars if you update the amount you owe to the bank on your insurance company.
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