Mortgage Life Insurance is Important, but Can You Afford It?
Once you’ve made the decision to protect your family with Canadian Mortgage Life Insurance, make sure you do not take the easy way out and just take the mortgage insurance that your lender offers.
This can be both dangerous and expensive: many of these policies are “post claim” only policies, which means you do not even know in advance if you are covered, and they may also be the most expensive policies.
GET INSURANCE THAT PROTECTS YOU AT PRICES YOU CAN AFFORD
The best way to get the insurance you need at the rates you can afford is to shop online for your Canadian Mortgage Life Insurance policy.
Shopping online could not be easier if you use Infoprimes.com’s insurance premium calculator on the right.
Be prepared to be amazed at the savings you will find on Canadian Mortgage Life Insurance Infoprimes.com! Here is a perfect example:
One borrower, with a 5.9% rate on his 15 year $200,000 mortgage put his information in the calculator and in seconds found the policy he needed for $11.65 a month. This will save him $23.63 per month compared to other insurers, and add up to thousands of dollars of savings over the life of his home loan.
BE CAREFUL ABOUT THE POLICIES LENDERS OFFER
As you can see, when it is this easy, there is no reason to settle for the policy that your bank or lender offers to you. Besides being policies that may not even cover you, your questions may not be properly answered, since you are dealing with a banker, not an insurance specialist.
You may not be told that the lender, not you, the policy holder is the one who controls the policy and can cancel it. This means that if you have a new lender, or if your health condition changes, your Canadian Mortgage Life Insurance policy can be cancelled.
Yet many people ignore these dangers and take the lender’s policy. Why? Because lenders are encouraged to scare borrowers into these policies and it just seems easy to simply sign up right there while you are doing your mortgage application.
FAST, EASY AND INEXPENSIVE
With Infoprimes.com, this is not a valid reason, since nothing could be easier than Canadian Mortgage Life Insurance application on Infoprimes.com.
Don’t take a chance with your family’s future security. Check out the savings you can realize on your policy by simply filling out the simple information on Infoprime’s insurance calculator, at right.
Tags: canadian mortgage life insurance, insurance, insurance policy