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Term Insurance for your Mortgage

You need sufficient coverage to provide for your family and your mortgage.

Mortgage Insurance

 

 When it comes to protecting your mortgage, you have a choice.  Go the route of a traditional lending institution, or take advantage of a great alternative with term insurance.

 

A lender may insist you have insurance protection for your mortgage.  However, you are not obligated to purchase the lenders insurance product.

Before you buy insurance to protect your mortgage, ask the following questions:

→ Do you get to pick the beneficiary?

→ Is it convertible?

→ Can you keep it if you move?

→ Are you in Control?

When you buy Term Insurance the answer is always YES!  

At the time of issue, your good health and lifestyle are rewarded with better premiums according to your class of risk.  These classes help ensure that your term plan is among the most competitively priced on the market.  

 

TERM INSURANCE   INSURANCE FROM YOUR LENDER
Your mortgage protection remains intact even if you switch lenders Portability When you switch mortgage providers, you usually need to reapply for your mortgage insurance
You own the policy and choose the beneficiary you want to receive the death benefit. Control With typical mortgage insurance, the lender owns the policy and assigns itself as the beneficiary
Your coverage amount remains intact, even as your mortgage balance decreases Level Coverage Typical mortgage insurance declines as your mortgage balance decreases, however your Premiums stay the Same
You benefit from insurance underwritten at the time of application    Comfort  Typical mortgage insurance is only underwritten at the time of death             
Your rates are guaranteed for the life of the policy                                                                                                                              Guaranteed  premiums Typical mortgage insurance rates are not guaranteed                                                                                                                                                                                                    

 

Ready to discuss your needs?  Hello@IntegraGroup.ca