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Mortgage Insurance |
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Protect your home, not your lender. Most lending institutions offer mortgage life insurance as part of their mortgage packaging, but look carefully before you sign on the dotted line. You could find yourself locked into insurance that does more to protect your lender than you. |
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When we acquire an asset of great value, such as a home, it is essential that we do everything in our power to preserve it. For example if we were to fall seriously ill, the last thing we would want is to sell it or to place our family in a precarious financial situation.
With mortgage insurance you obtain financial protection that insures your mortgage payments in the event of disability or fully pays off your mortgage balance in the case of a premature death or critical illness.You or your spouse are therefore protected in case of an unfortunate event.
Mortgage Insurance is a flexible alternative to the Mortgage Insurance typically offered through the banks and other lenders.
Mortgage Insurance premiums are based on your age, sex and smoking status. Flexible payment choices and other options help to ensure that mortgage insurance will contunue to meet your changing needs.
Lose your Mortgage – Not your Home |
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Features of Mortgage Insurance
- You may choose individual or joint life insurance coverage.
- You may opt for additional protection that covers you in the event of a disability or a critical illness.
- Your premiums are guaranteed and remain fixed for the term of your insurance.
- In the event of death, the money is paid to the beneficiary of your choice, and this beneficiary need not be your lending institution. The beneficiary may dispose of the money as they wish.
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| Articles of interest |
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Should I purchase my mortgage insurance coverage at the bank?
Watch CBC Marketplace - "In Denial" - This segment from CBC Marketplace on February 6, 2008 provides you with concise information about bank mortgage insurance and the reasons for consumers to purchase their insurance through a licensed broker.
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416−998−5656 |
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