Why insure your mortgage? Most everyone carries fire insurance to protect their investment, however, did you know that statistics show that at age 35, one person out of seven will die before their mortgage is paid off?
You should own your own private mortgage insurance coverage instead of purchasing coverage from the bank or mortgage company. Know all the facts...
Stability - Because of the fact that premiums increase as you get older, you will face increased costs every time you renew your mortgage. Instead of having to purchase new coverage every time you renew your mortgage or change mortgage companies, your own private policy can simply carry on at its original guaranteed cost.
Flexibility - You control the type of plan you purchase: term or permanent insurance. Also, your policy is fully transferable if you decide to sell your home and purchase another.
Control - Insurance proceeds are not automatically paid directly to the bank of mortgage company. Life insurance proceeds are paid out according to your wishes. After all, you are the one that paid the premiums and owns the policy! Circumstances often change and having this option allows your family and survivors to decide whether to pay off the mortgage or to use the money for other purposes. Your family is in control, not the mortgage company.
Costs - The banks may lead you to believe otherwise but in almost all cases, you will save money by purchasing your own private plan of insurance.
Ensure your family will be able to stay in their home, call John today at 204-489-1555.