Mortgage protection insurance, for you!

Zoltan PadarMortgage0 Comments

first time home buyers

Mortgage Protection Plan: 

This is not about mortgage insurance, covers the lender in case of loss, provided by selected insurer, like CMHC, this is about your piece of mind, your protection!

Protect your home and family!

We need to get our mortgage protection plan coverage. This is an optional coverage, but one that any mortgage agent can tell you is crucial. The purpose of the mortgage protection plan is to protect you and your family should something happen. It acts as a disability and a life insurance policy in regard to your mortgage.

Learn what is most important!

Typically, it is based on family income when you get approval for a mortgage. If one of the partners in the mortgage is no longer able to contribute due to disability or death, a mortgage protection plan gives you protection for your mortgage payments. However, most homeowners don’t realize that if they buy one of these policies through their financial advisor, life insurance agent or bank, the policy will not be able to move with them to a new lender.

As your mortgage professional, I have an exclusive opportunity with this product through our Insurer. This means that if you purchase a Mortgage Protection Plan with me, you are protected for the life of your mortgage. You do not have to stay with the same lender! If you move, your protection ports with you instead of other similar products where the plan is specific to that lender. In those cases, should you want to switch lenders, you would need to requalify for your mortgage protection plan – possibly at higher rates!

Any questions about mortgage insurance? What are the best options for you? Please do not hesitate to reach out to me! I would be happy to advise you on your existing plan and or discuss your needs to help you find the perfect coverage to suit you and your family.

FREE advice. 403-253-2022

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