Where to Find the Best Mortgage Life Insurance
Seek and ye shall find-the perfect mortgage life insurance for you and your loved ones. When you see the amount of cash you can save on your mortgage life insurance, you will realize it was well worth the effort.
Taking the insurance offered by your bank is probably the worst and most expensive way.
For a good comparison of quotes, just check online at Infoprimes.com. One case in point is a policy that was quoted at $35.28 for a 5.9%, 15 year, $200,000 loan by a lender and only $11.65 a month on Infoprimes.com.
Lower premiums is just one of the reasons you should shop for mortgage life insurance at Infoprimes.com rather than your bank. I don’t think there are very many people out there who are not interested in saving money right now. This is because many of the bank’s policies have serious flaws.
A major problem, and one that is gaining notoriety, is that they are often “post claim policies” that do not go into effect until a claim is received. When a claim is received, the insurer may merely deny it. There are any amount of reasons that the insurance may be denied, but one of the most usual ones are that you did not fill out the forms properly, or you “lied” on the form. I don’t know about you, but I sure don’t want a policy that I wasn’t sure was in force.
One other issue that is difficult is that these bank policies belong to the lender, not the borrower. The reason is because they are collective policies rather than a traditional individual insurance. Since they own and control the policy, they can cancel it, and frequently do, if the borrower’s health changed when they do their periodic reviews. The policy will, of course, be cancelled if you sell your house or refinance, since it is tied to the mortgage.
Many unscrupulous lenders will infer that mortgage life insurance is only obtainable from them; don’t be fooled, you CAN obtain your own insurance. All that you need to do is compare prices on the Infoprimes.com calculator at the right, and you will learn how you can save thousands on mortgage life insurance.
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More Examples:
- $200000 mortgage insurance (life) for a 33 years old male (non-smoker) and a 34 female (non-smoker): Laurentian Bank: $42.51 per month. InfoPrimes.com: $29.13 per month. Savings: $2408 over 15 years.
- $313576 mortgage insurance (life) for a 38 years old male (smoker) and a 36 female (smoker): Scotia Bank: $109.38 per month. InfoPrimes.com: $76.11 per month. Savings: $9981 over 25 years.
- $138105.67 mortgage insurance (life and disability) for a 29 years old female (non-smoker) and a 33 male (non-smoker): National Bank: $62.44 per month. InfoPrimes.com: $31.8 per month. Savings: $9192 over 25 years.
- $147000 mortgage insurance (life) for a 44 years old male (non-smoker) and a 41 female (non-smoker): Scotia Bank: $62.81 per month. InfoPrimes.com: $36.41 per month. Savings: $6336 over 20 years.
- $100000 mortgage insurance (life) for a 46 years old male (non-smoker): CIBC: $46.87 per month. InfoPrimes.com: $34.96 per month. Savings: $2858 over 20 years.
Montreal, Quebec is the second largest city in Canada and the largest city in the province of Quebec, with a population of over 3.5 million people. It is located in the southwest of the province, and is primarily an island at the confluence of the St. Lawrence River and the Ottawa River. It was originally named Ville Marie, but the current name is taken from the hill that is in the center of the city, Mont Royal. (The archaic French was Mont Real.) It is a largely Francophone city, with 70.5% of the population speaking French.
Before the arrival of the Europeans, the Iroquois occupied a village at the foot of Mont Royal. The French explorer Cartier visited this area in 1535 and claimed it for France. When explorer de Champlain visited the area, the Iroquois settlement had disappeared, most likely due to inter tribal wars, migration and diseases introduced by Europeans. In 1611, a fur trading post was established at the confluence of the Saint Pierre and St. Lawrence rivers. In 1639, a Roman Catholic mission was established there.
It was a French colony until 1760, when it was surrendered to Great Britain. In 1832, Montreal was incorporated as a city and the construction of the Lachine Canal and the Victoria Bridge spurred growth in the mid 19th century that established Montreal as the largest city in British North America, as well as the commercial and cultural capital of Canada.
Quebec is an usual province and celebrates this feature in a number of ways, the most important of which may be that its official language is French. Quebec is physically the largest province in Canada and the second most populous province and is bordered on its south by four states of the United States, Maine, New Hampshire, Vermont and New York. Another unusual feature of the province of Quebec is its search for independence; all of the political parties seek more autonomy for the province, and referendums on independence have been held periodically to the extent that the government of Canada recognizes Quebec as a “nation within a united Canada”. Like many provinces and regions in Canada, Quebec gets its name from a Native Canadian word, the Algonquin word for “where the river narrows”, which refers to where the Saint Lawrence River narrows in the Quebec City area. The province was founded after the Treaty of Paris, ending the Seven Years War, transferred it to Britain from France in 1763, but after the Constitutional Act of 1791 divided the territory between lower Canada, which is present day Quebec and upper Canada, which is present day Ontario.
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