Mortgage Insurance is defined as “an insurance policy, which compensates lenders or investor for losses due to the default of a mortgage loan (Wikipedia).”
“The idea is that if you should become seriously ill or die before paying off the mortgage, the coverage will kick in and pay it off for you. It’s meant to offer peace of mind and to reassure you that your family will be able to stay in your home if anything should happen to you (CBC Marketplace)”.
However, this is not always the case. If you have insurance built into your mortgage, there are things you should know. Check out this newscast on CBC marketplace for more information: http://www.cbc.ca/marketplace/2008/02/06/in_denial/
Do you have Mortgage Insurance? How well are you protected?
It happens. All too often, consumers believe they are fully covered when in fact their policies contain exclusions of which they were unaware. How much protection do you really have? We can help you go through your existing policy and answer any questions you may have, always honestly and without bias.
Alternatives to Mortgage Insurance
There are alternatives to Mortgage Insurance that achieve what Mortgage Insurance sets out to do. Stand-Up Advisor can provide you with strategies and insurance product options that will protect your home at lower monthly premiums and with more coverage than conventional Mortgage Insurance. Contact us today to find out how or to set up an appointment for a complete assessment.
Why Stand-Up Advisor?
Stand-Up Advisor simplifies the process by helping you gain a better understanding of available insurance products that provide mortgage protection. We will explain the fine print, bringing any policy exclusion clauses to your attention, so that you can make an informed decision when presented with product options.
Independently owned, Stand-Up Advisor is not bound by exclusivity contracts that limit access to products offered by specified insurance companies. This allows us to do two things: 1) Gain access to all available products; 2) Compare and offer the most competitive rates based on our client’s needs.
At Stand-Up Advisor, our first priority is to provide you with all the necessary information about the product(s) you are considering purchasing. By asking the right kinds of questions, and comparing insurance products, you can ensure you purchase insurance that makes sense for you. We can guide you through the process. Contact us to get a quote today.
At Stand-Up Advisor we:
- Ensure you know to what extent you are covered
- Practice full disclosure
- Provide an unbiased approach to consulting
- Compare quotes and offer the most competitive rates
- Have access to all available products
To learn more about alternatives to Mortgage Insurance, contact Stand-Up Advisor today for a complete assessment.