Posts tagged: new york

How to Treat and Cope with Critical Illness

 

When buying a home or renewing their mortgage, many people think they are obligated to sign up for their financial institutions mortgage life insurance.

Why choose Term Life insurance? It offers peace-of-mind in more ways than one. Term life insurance offers you affordable premiums and is a great alternative to your financial institution’s regular mortgage life insurance.

  • With term life insurance, the insurance provider pays the death benefit to your beneficiary.
  • This gives your beneficiary the freedom to choose how best to spend the money.
  • Mortgage life insurance bought from a lender typically pays the death benefit to the lender.
  • With mortgage life insurance, the death benefit or coverage amount declines as your mortgage balance decreases, but the premium you pay remains the same.
  • With term life insurance, your coverage amount remains the same.
  • Should you ever decide to switch lending institutions, you would have to reapply for mortgage life insurance whereas term life insurance is portable – you own the coverage for the duration of the term.
  • Guaranteed renewable if your needs change in the future, you can convert your Term Life coverage to a permanent life insurance policy.
  • Your coverage is guaranteed renewable up to age 80 – regardless of any changes in your health.
  • For the first 20 years, your premiums will not increase and your benefits will not decrease – guaranteed!
Greater control for your beneficiary

Mortgage life insurance bought from a lender will typically pay the death benefit to the lender upon your death. Term life insurance will pay the benefit to the beneficiary you choose (e.g., your spouse). This gives your beneficiary the freedom to choose how best to use the money. For example, some may decide that paying down the mortgage is the highest priority, while others may want to use the money for a more pressing expense that arises at the time.

Coverage that doesn’t shrink with your mortgage

The coverage amount under typical mortgage life insurance declines as your mortgage balance decreases. Term Life insurance, the amount of your coverage remains the same.You choose the amount of coverage that best suits your stage of life, your lifestyle and your budget – from $25,000 up to $1,000,000 (in increments of $25,000). If you need help determining the right amount of coverage for you, call us at (416) 562-0808 for a free evaluation and quote. When buying a home or renewing their mortgage, many people think they are obligated to sign up for their financial institutions’ mortgage life insurance.

Why choose Term Life insurance? It offers peace-of-mind in more ways than one. Term life insurance offers you affordable premiums and is a great alternative to your financial institution’s regular mortgage life insurance.

  • With term life insurance, the insurance provider pays the death benefit to your beneficiary.
  • This gives your beneficiary the freedom to choose how best to spend the money.
  • Mortgage life insurance bought from a lender typically pays the death benefit to the lender.
  • With mortgage life insurance, the death benefit or coverage amount declines as your mortgage balance decreases, but the premium you pay remains the same.
  • With term life insurance, your coverage amount remains the same.
  • Should you ever decide to switch lending institutions, you would have to reapply for mortgage life insurance whereas term life insurance is portable – you own the coverage for the duration of the term.
  • Guaranteed renewable if your needs change in the future, you can convert your Term Life coverage to a permanent life insurance policy.
  • Your coverage is guaranteed renewable up to age 80 – regardless of any changes in your health.
  • For the first 20 years, your premiums will not increase and your benefits will not decrease – guaranteed!
Greater control for your beneficiary

Mortgage life insurance bought from a lender will typically pay the death benefit to the lender upon your death. Term life insurance will pay the benefit to the beneficiary you choose (e.g., your spouse). This gives your beneficiary the freedom to choose how best to use the money. For example, some may decide that paying down the mortgage is the highest priority, while others may want to use the money for a more pressing expense that arises at the time.

Coverage that doesn’t shrink with your mortgage

The coverage amount under typical mortgage life insurance declines as your mortgage balance decreases. Term Life insurance, the amount of your coverage remains the same.You choose the amount of coverage that best suits your stage of life, your lifestyle and your budget – from $25,000 up to $1,000,000 (in increments of $25,000). If you need help determining the right amount of coverage for you, call us at (416) 562-0808 for a free evaluation and quote.

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Suspendisse vitae nisi purus, vel iaculis justo. Vivamus laoreet massa in metus pretium a congue elit euismod. Nulla eleifend dapibus nulla a vehicula. Mauris at congue purus. Sed lobortis viverra nisl, non consequat massa sollicitudin id. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aenean porttitor turpis et nibh sodales a convallis leo ultricies. Maecenas vehicula iaculis metus, vel posuere velit ultrices quis. Duis vehicula ultrices aliquam. Donec neque elit, malesuada non porta vitae, hendrerit sed odio. Read more »

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Suspendisse vitae nisi purus, vel iaculis justo. Vivamus laoreet massa in metus pretium a congue elit euismod. Nulla eleifend dapibus nulla a vehicula. Mauris at congue purus. Sed lobortis viverra nisl, non consequat massa sollicitudin id. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aenean porttitor turpis et nibh sodales a convallis leo ultricies. Maecenas vehicula iaculis metus, vel posuere velit ultrices quis. Duis vehicula ultrices aliquam. Donec neque elit, malesuada non porta vitae, hendrerit sed odio. Read more »