3 Things Most People Don’t Know That Makes Life Insurance Better Than Mortgage Insurance
1) An individually owned life insurance plan is underwritten when you apply for the insurance. At the time of application, you’ll answer medical questions and possibly do some medical tests, and the insurance company will decide whether to approve your application or not. Once it’s issued, only you can cancel or modify it.
2) Most people own more than one home during their lifetime. Having to shop for mortgage insurance when you are in your 50s is much more expensive than when you are younger and purchasing your first home. If you have health issues at an older age, insurance may even be unattainable. Every time you move, you would have to reapply for mortgage insurance.
3) Life insurance coverage remains level, meaning if you buy $250,000 of insurance, you’ll always have that much coverage. Mortgage insurance, however, is different, in that as you pay down your mortgage, your coverages decreases too, but the premium doesn’t change.
Here’s Where We Can Help!
1) We shop the market for the best product suited to your budget and covering the need fully that is guaranteed to be paid when needed most.
2) We co-ordinate your mortgage insurance with other personal and group coverage (if applicable) to ensure you and/or your family are 100% protected.
3) We work with insurance companies that excel in customer service and claims to ensure you are protected.
For a complimentary review of your personal or mortgage insurance, give us a call at 705 733 9385. You may be paying more than you need to be!