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Mortgage Solutions

When you buy a home, you choose a property that suits your needs. You can have the same control over choosing your mortgage protection.

 

So, before you say yes to Mortgage Insurance from your lender you should know there are superior options available to you that are designed to protect you and your loved ones – not to protect your lender.

 

 

 

Take a look at the differences between protecting your mortgage with an individually-owned Term Life Insurance plan versus most lenders’ Mortgage Insurance.

 

Why consider a Term Life Insurance policy for your mortgage protection:

  • You own the Insurance policy, versus the lending institution owning it.
  • Your Insurance policy is created specifically for your needs.
  • You choose your own beneficiary; the lending institution is not the beneficiary.
  • You decide whether to continue with the Insurance policy if you move the mortgage or sell the property.
  • Your Insurance policy is renewed up until the end of the period you select, not what the lender selects.
  • Your Insurance policy payout amount and premiums remain the same; while the lender’s payout amount decreases with each mortgage payment, and the premiums can increase.
  • You choose how to spend the proceeds of the Insurance policy, instead of the mortgage lender.
  • You, not the lender, decide if you want to cancel the Insurance.

In the event of a Critical Illness or Disability, you can also have additional conditions within your insurance policy to ensure that you have the comfort of knowing your mortgage payments will continue to be paid. The Critical Illness Statistics and Disability Statisticsavailable in Canada reveal that is vital to have Critical Illness Insurance to cover your costs for the desired period of time that you choose. Contact Stewart Financial Services to find out more information about Mortgage Insurance, and how Insurance coverage can be designed to meet your needs; on your terms.

 

Managing debt and simplifying your day-to-day finances play an integral role in achieving financial goals. One of the many debt and cash management tools that is gaining popularity in Canada is an innovative all-in-one account solution know as Manulife One.

 

Contact Stewart Financial Services to find out more information about Mortgage Insurance, and how Insurance coverage can be designed to meet your needs; on your terms.