Mortgage Insurance

Congratulations on buying a new home or condominium! This is a place that you can call your own. Before you move in and start enjoying your new home, take a moment to think about the future.

Mortgage insurance that you buy from the mortgage lender is life insurance that pays for the outstanding balance of a mortgage loan in the event of the borrower’s death. These products are designed to pay for only the outstanding balance of the loan. In other words, the amount of life insurance will decline over the time that you have the mortgage until the balance is zero. If you change mortgage lenders, you will have to re-qualify for a new mortgage insurance policy. The premiums are determined using a blended method which assumes that you are a smoker and unhealthy.

Mortgage insurance offered by your mortgage lender is to ensure that they get their money while purchasing your own mortgage insurance policy gives you the flexibility and peace of mind that your beneficiaries will be taken care of upon your death. This will give your spouse or other beneficiary the ability to avoid having to rush into any financial decisions when they are feeling sad and overwhelmed.
Mortgage Insurance
Owning your own mortgage insurance policy will give you the freedom to change mortgage lenders when you want without needing to re-qualify for a new policy. The premium paid for your own policy is determined by your age, smoking status and health history. This will likely save you money every month. In addition to your own mortgage insurance policy, you might want to consider buying some critical illness coverage, in the form of a rider or a separate policy, to pay for one or two years of mortgage payments if you become critically ill. This will allow you to recover without financial stress.

You may also want to buy a disability insurance policy to pay for your mortgage payments if you are unable to work due to an illness or injury.

Contact me to get your coverage started today. If you want, you can do it yourself by clicking on the DO IT YOURSELF link below. If you need help, just let me know. I would be happy to help you in any way that I can.

You should review your mortgage insurance policy if your circumstances change for the better or for the worse.

I would be happy to review your mortgage insurance policy with you at no obligation.

Contact me for help with your Mortgage insurance!

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