RSSMortgage Insurance (Bank or Personal)
Home owners know that, usually our ‘Largest’ and essentially our most important investment is our place of living, the HOME! People in the public ‘feel safe’ and that they’ve protected themselves/loved ones, should they suffer a premature death, by purchasing Bank Mortgage Insurance to cover their Mortgage Debt! Bank Employees are essentially not licensed life insurance brokers and do not explain the differences in protecting a mortgage with the bank or having your own individual life insurance. The CBC MARKET PLACE VIDEO has brought it finally to the public’s attention for Canadians, it discusses some of the ‘pitfalls’ of not guaranteeing to you that your important debt will be covered.
Bank vs YOU
Bank Insurance underwrites and investigates if they will cover your debt after the time of death. Individual or personal life Insurance will be underwritten at the time of application, and will be a guarantee of what you are covered for and you can combine all you insurance needs into one ’simple’ and cost effective package! It will ensure you have ‘PEACE OF MIND’ for any of life’s events and road bumps a long the way!
Bank Insurance has the bank as the Beneficiary of the life insurance coverage you are paying a premium for to pay off your mortgage. Your own individual plan life insurance, you CHOOSE who is the beneficiary of your plan and how it’s disbursed. Then, your beneficiaries will receive a confidential tax free lump sum payment to deal with the finances, how they see fit.
Bank Insurance gives you one option, maybe a couple at the best of times, we give you LIFEGUIDE, which finds the best rates possible in the industry. Bank Insurance may look inexpensive beside your mortgage payment, but getting your needs covered with proper individual TERM LIFE Insurance is almost always less expensive than the bank or group coverage and is guarantee. Then, you can gladly tell the bank you no longer wish to pay the non-guaranteed life insurance coverage portion of you mortgage payment. PROTECT YOURSELVES the most responsible & cost effective way possible by talking to an insurance broker like myself! We can provide a unique, specific to your stiuation FINANCIAL NEEDS ANALYSIS tailored to fit within your personal/family budget.