|
Canada Mortgage
Insurance Brochure
To receive a Canada mortgage insurance brochure please enter your email address in the field above and click go.
|
CANADA MORTGAGE INSURANCE
Most of us
Canadians don't want to think about death, especially when we're making one of the
biggest commitments of our lives: securing a home loan.
The reality
is, however, that no one can predict the future, especially not fifteen or
thirty years down the line. You need to protect yourself and your family
in case the unexpected does occur. After all, would your spouse be able to
pay those mortgage payments as well as your other bills if you died tomorrow?
Purchasing a Canada
mortgage insurance through your Canadian bank may seem like the best protection, but
you may end up paying more for less security and limited control.
|
An
Alternative Answer to
Mortgage Insurance
is Term Insurance
A better solution
to Canada mortgage insurance through your bank is to purchase a Canadian term life insurance policy through a third party provider.
Term life insurance works no differently than mortgage insurance found in Canada.
You'll receive
an insurance policy for a length of time that you specify. If, during that time, something
happens to you, your beneficiary will receive the proceeds. However, there
are some major advantages to choosing term life insurance over the mortgage insurance policy
offered by your Canadian bank.
|
 MENU: LIFE INSURANCE
Mortgage
Insurance Section
|
- You, not the
bank, own the insurance policy
- Your policy
is created specifically for your needs, not that of a group
- You, not the
bank, decide when and if to cancel the insurance policy
- You choose
your own beneficiary instead of the bank automatically receiving the proceeds.
- You never
have to worry about your insurance premiums going up; they won't, but the bank's might.
- You decide
what to do with the insurance if you sell the house, instead of the bank
immediately canceling it.
- Your policy
is renewed up until the end of the period you select; the bank won't guarantee
renewal.
- Your policy
amount never changes, but through the bank it will decrease over time even
though your premiums will stay the same.
- You can choose
how best to spend the policy's proceeds instead of letting the bank use every
penny to pay off your loan.
- You can also
customize your policy and even move it to another institution - none of which
is possible through the bank.
- You pay less!
If you go through a bank, you will pay as much as 40% more for your mortgage insurance policy.
Take Charge
of Your Family's Financial Security
- Choose Term Insurance rather than Mortgage Insurance from your bank.
The bottom
line is that you, not the bank, should control your mortgage insurance policy. For
that reason alone, you should choose a term life insurance policy from a
Canadian provider you choose, not one that is chosen for you by a lending institution.
The Hughes
Trustco Group can help you find an insurance policy that not only meets your needs but
also saves you money.
For more information on Canada Mortgage Insurance please view our specialized website on Canada Mortgage Insurance or just simply ask for a Canada mortgage insurance quote right now!
|
