If you have mortgage insurance with a BANK…then read this !

July 13, 2015 at 2:12 pm Leave a comment

245Approximation 70% of Canadians  have a mortgage life insurance  through a Canadian bank,  when you sign up for your mortgage,  When you meet your banker he will say “Just sign this document”

it’s easy. Simply check “yes” to add the coverage. But how many of you actually shopped that coverage to see, if you were getting the best rate or that there might be a better coverage option for you.

                           

THE DISADVANTAGES OF DEALING WITH BANKS 

  • Your benefit (Mortgage balance) is decreasing every year but premium stay  the same ouch !
  • You can’t name a beneficiary, the bank is the Lender
  • You can’t transfer your mortgage insurance protection when you move or change institutions.
  • Premiums are not Guaranteed; if interest rates go up, your insurance will as well.

THE ADVANTAGES WITH LIFE INSURANCE COMPANIES:

    • You can name a beneficiary
    • Transferable protection when you move or change institutions.
    • Guaranteed Level coverage and fixed premiums.
    • Premiums established according to each client rather than a group.
    • We will shop over 25 insurance companies to get you the best price & product

With Ottawabroker.com we will shop over 25 insurance companies to get you the best product and price….

life

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