Financial Security
Financial Security begins with strong family foundations. Invest in your future. Invest in your family.
Request a No Obligation ReviewMortgage debt is the largest debt most of us will incur in our lifetime. Mortgage Insurance protects loved ones by covering the cost of the mortgage in the event of loss.
Mortgage Insurance
When arranging for a mortgage, the Bank will offer you a non-underwritten mortgage insurance plan, that is based on group conditions including rates. We are so busy arranging the mortgage for our home, we often do not pay attention to the insurance offer. Banks are not competitive with insurance companies and have many disadvantages. The good news is that the Bank's insurance can be cancelled at any time. Before you do, allow one of our insurance agents to help you with arranging a private Mortgage Insurance policy.
Bank's Mortgage Insurance vs. Private Mortgage Insurance
The benefits of a private Mortgage Insurance policy are obvious. A summary of the benefits are as follows:
| Bank's Mortgage Insurance | Your Mortgage Insurance |
|---|---|
| Bank owns the policy. | You are the owner of policy. |
| Bank controls who is the beneficiary (the Bank). | You control who is the beneficiary (your Family). |
| Bank controls policy details. | You control all policy details. |
| Declining insurance coverage. | Insured amount stays the same. |
| Inflexible terms (the Bank will ensure they only are paid). | Extremely flexible terms. |
| One purpose (the Bank will be immediately paid). | Multiple purpose (you set the purposes). |
| No underwriting/no guarantee (Some cases Bank will not pay). | Full underwriting/full guarantee (Insurance company *Must* pay). |
| Not transferable (such as if you sell home). | Fully transferable (coveraged follows you, regardless if you sell home). |
| Grouped pricing (no benefit for non smoking/good health). | Low cost (you benefit if in good health). |
| High cost. | Low cost. |
Obtain Your Mortgage Insurance Quote Now
We can help. A Term Life insurance policy will give you the certainty needed for peace of mind, and will out-compete the Bank's Mortgage Insurance. Request a free, no-obligation quote from us, and we’ll get back to you soon. Just click the Insurance Button below.
