PRESS RELEASE
FOR
IMMEDIATE RELEASE
August 26, 2003
Term
Life Coverage: A Smarter Choice for Borrowers Than Mortgage Insurance
Montreal,
Canada - August 26, 2003 - Each day hundreds of people commit themselves
to 15-30 years of debt, courtesy of their mortgage. Many of them wisely take
the precaution of purchasing mortgage insurance which will pay off their
remaining loan in the event that they die during the loan repayment period.
Planning for the unexpected is also a good decision, but purchasing a mortgage
insurance policy through a bank may be one of the biggest and most common
mistakes borrowers make.
A
smarter choice is to use a third party insurance provider to secure a term-life
policy. These policies have all the features of traditional mortgage insurance,
but give individuals the freedom to customize the plan to their needs. For
example, a person would be able to pick his or her own beneficiary, choose
how to spend the proceeds, and decide what happens to the policy if the house
is sold. None of those options are available with mortgage insurance. In
addition, the premiums of a term-life policy will never increase, the amount
of coverage will never decrease, and the savings to the individual will be
as much as 40% if he or she chooses a term life policy instead of the mortgage
insurance offered by a lending institution.
Hughes
Trustco Group Ltd assists individuals in finding term-life insurance plans
which meet their specific needs and saves them money. The Canada-based company
was established in 1972 and since then they have been helping families in
Canada locate affordable life insurance options as well as determining wise
investment and personal estate planning decisions. Applications and quote
requests are completed via the Internet.
To
find out more about term life insurance or to learn more about Hughes Trustco
Group Ltd's other insurance alternatives, visit www.trustco.ca.
CONTACT:
Ivon T. Hughes, The Hughes Trustco Group Ltd
Tel: (514) 842-9001 / Fax: (514) 842-1085
Email: info@trustco.ca
Website: www.trustco.ca
