3 MUST-KNOW FACTS ABOUT MORTGAGE INSURANCE WOODSTOCK

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3 MUST-KNOW FACTS ABOUT MORTGAGE INSURANCE
WOODSTOCK
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• Your hard work is paying off and your legal
  career is taking shape. The sacrifices you made
  are beginning to bloom and your personal goals
  might include buying your dream home, getting
  married, and starting a family. This is the time
  for imagining everything thats possible. As you
  look forward, ask yourself what you want to build
  and how you will protect it so that your loved
  ones will enjoy security, comfort and peace of
  mind if anything happens to you. 
• Growth and protection go hand in hand as your
  assets grow, your income rises, and you begin to
  establish yourself in the legal community.
  Understanding your options is step one.

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MORTGAGE INSURANCE WOODSTOCK MAY BE ONE ANSWER

• Your bank may have offered you insurance when you
  took out your mortgage. If you accepted it, you
  know that your entire outstanding balance will
  now be paid off in the tragic event of your
  death. You can take comfort in that decision but
  now may be the time to cross-examine the benefits
  of that coverage and consider the limitations and
  drawbacks
• No money is paid to your family. The bank is the
  owner and beneficiary of the insurance policy.
  That means the proceeds go straight to the bank
  to pay off your mortgage, regardless of how
  little is owed. 
• Coverage declines but your payments do not. Your
  insurance coverage pays off the outstanding
  balance on your mortgage so the less you owe, the
  smaller the payout.  
• Little underwriting is done so healthy homeowners
  may be paying more than necessary for insurance.
  Worse still, your claim may be denied later based
  of your medical history. In the case of a large
  claim, there may be added incentive for the
  insurer to dig deeper into your health status.

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ACHIEVING GREATER PEACE OF MIND

• Term life and permanent life insurance coverage
  such as Term 80 Life Insurance and Non-Par Whole
  Life Insurance are guaranteed to pay full
  benefits to your beneficiaries. The money is
  theirs to use as they see fit. They may choose
  to
• Pay off part of the mortgage to lower the monthly
  payment. 
• Top up education savings accounts.
• Take some time off to plan their next steps.
• With cash in hand, they have options. Thats why
  many people in the early stages of life and
  career choose the flexibility of life insurance
  over mortgage insurance Woodstock.