Success Insurance offers a smart alternative to creditor mortgage insurance offered by banks and lenders.
Some of the differences between the insurance you purchase with your mortgage and one purchased from a licensed Life Insurance Advisor are:
| Mortgage Insurance |
Life Insurance |
- Beneficiary is the Lender.
- Insurance amount decreases as your mortgage decreases; but your monthly
payment does not decrease.
- Not transferable to new Lender
- Payout can be used ONLY to pay the
balance of the mortgage.
- Underwriting is done after a claim
has been submitted so technically, you
could be declared uninsurable.
|
- You choose the Beneficiary.
- Insurance amount and monthly
payment remain the same.
- Remains with the same life insurance company for amortization of your insurance
- Beneficiary can choose to pay out mortgage AND use remainder of policy at their discretion.
- Underwriting done at the time the
policy is issed, therefore you know your claim will be paid out according to the terms of your contract
(unless fraud is proven).
|
If you need insurance to protect your mortgage, working with a licensed, qualified Life Insurance Advisor offers you the opportunity of selecting the product that’s right for you!
Contact:
Brendon MacDonald
Life Insurance Advisor
Success Insurance
(902) 880-8228
bmacdonald@successinsurance.ca
Paul Bowser
Life Insurance Advisor
Success Insurance
(902) 237-8451
pbowser@eastlink.ca
Paul B. Bowser is a fully licensed Life Insurance professional. If you need to protect your mortgage - and your family, working with a qualified insurance advisor can help you determine the appropriate coverage. Many opt for Mortgage Insurance offered by banks and lenders; tempted by low premiums that can come with unforeseen risks, when a few extra dollars could save you and your family disappointment in the future.
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