If you have dependents or loved ones that depend on your income to cover bills and expenses, such as mortgage payments, auto payments, insurance payments etc., it is smart to prepare, so they can cope financially in your absence. Death is a possibility for any of us on any day, at any time, and in any place. Life offers no guarantees; today is a blessing, and tomorrow is a gift. None of us knows our future. We don’t even know what is going to happen one second from now! With this uncertainty, it makes sense to plan for life’s surprises. Life insurance will help you take care of your family when you are gone. Insurance companies allow you to pay a small monthly premium that will pay...
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Mortgage Life Insurance What You Need to Know A Mortgage life insurance is a policy custom designed to provide peace of mind to ailing persons who haven’t paid their mortgage in full. This insurance cover covers the mortgage balance left after the policyholder passes on. How Mortgage Life Insurance Works This insurance works in an almost the same way as life insurance does. The two pay after the policyholder has passed away, only that mortgage cover works a little different. The first thing you need to know about mortgage life insurance is that, you aren’t guaranteed that the entire mortgage balance will be covered. The amount to be paid in compensation depends on the premiums bought, and...
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Mortgage Protection Insurance A Safeguard for Your Home and Loved Ones DENVER, CO, September 1, 2007 -- Real estate lending has been a hot topic within the financial markets as foreclosures rise to record levels across the country. While many are thankfully not a part of those statistics, they still need to ask, "If something happens to me, how will my home and family be financially protected?" One way to achieve peace of mind is through mortgage insurance, which pays off your house in full in the event of your death. If you have not yet thought about the options for safeguarding your property and providing for your family, now is a great time to do so. Get to know the facts about...
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When you signed up for a mortgage with your bank, you were probably offered mortgage life insurance. Banks market mortgage life insurance as a must-have for homeowners. If anything were to ever happen to you, your loved ones would be taken care of. Although mortgage insurance may sound good on paper, here’s why you should think twice before signing up. Mortgage life insurance is a lot like term life insurance. If you pass away, get sick or have a serious accident, your mortgage will be taken care of. Your lender will pay off your outstanding mortgage balance (up to a maximum of $500,000). That’s not all: you’re also covered for a maximum of five years of accrued interest and any balance...
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The cost of mortgage life insurance How much does mortgage life insurance cost? Please take note that although this is an optional coverage, it is something worth looking into (and buying!). And you need to carefully take this into account, budget-wise. Can you pay over and above your monthly mortgage payments? You may be tempted to forego the coverage because of the cost. However, if you die, you need to make sure that your family is able to keep up with the payments. Otherwise, they may just lose the house, for which you have already sunk in a considerable investment! Some factors that affect the cost of insurance include: Your health condition and medical history Your occupation and...
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Insurers are withdrawing policies for accident, sickness and unemployment from sale a result of the coronavirus crisis Comparethemarket has revealed as it stopped offering quotes on all income protection products. Comparethemarket says it has had to temporarily suspend comparisons on tall types of income and unemployment protection due to the disruption. However, advisers say it is only ASU providers that have been withdrawing products and that the type of policies the industry would refer to as income protection would not normally cover redundancy – only a loss of income through ill-health. But IP providers have been adding in exclusions for covid-19 on new income protection policies...
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If you own a home or have recently purchased a new home, should you purchase mortgage protection insurance? In this article, we will discuss what mortgage protection insurance provides as well as what to look out for. We will explain who will and who will not benefit from a mortgage protection insurance policy. Plus, we will also provide you with better alternatives for those looking to protect their mortgage payments while protecting their family from financial burdens after the death of a breadwinner. A new home tends to come with an expensive monthly mortgage payment for most home buyers. It will most likely be the most significant expense you and your family will have to pay on. If you...
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Important Information for Canadian Seniors If you are reasonably healthy why not get your own cheap life quote based on your health rather than a guaranteed permanent quote that assumes you are not healthy. For example, a typical $15,000 guaranteed permanent life insurance quote would be $255 per month for a 70 year old male if it is a guaranteed issue policy. On the other hand, a standard life quote for $25,000 (75% or more would qualify) would be only $99 per month for a healthy person.. By the way, if you are taking medication to control blood pressure or cholesterol levels and it is working you will likely qualify for standard issue. How many men or women at age 70 are not taking...
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Mortgage Life Insurance Quotes To find out more about mortgage life insurance quotes one of our top rated consultants can help you. If you want any help with home insurances, loans or determing the best live cover plan to suit your needs, we would be glad to offer some specialist guidance. Feel free to get in touch with us to discuss your choices and obtain expert advice. We guarantee to seek out precisely the right policy for yourself from the thousands this market has to offer, presenting a whole of market choice that will not be beaten. We'll have a look at your situation and provide some professional advice to find the ideal option for you. If purchasing your first property, completing...
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DETROIT, Nov. 13, 2019 /PRNewswire/ -- Nexsys Technologies, a FinTech company providing advanced technology solutions for mortgage origination and closing, today announced the launch of Clear HOI, a cutting-edge tool that digitizes the communication between mortgage lenders and homeowners insurance companies. Traditionally, lenders contact insurance agents and carriers by phone to verify the presence of homeowners insurance on every mortgage transaction. This is an expensive and time-consuming process and can significantly delay a mortgage closing - frustrating lenders, real estate agents, insurers and consumers. Clear HOI allows insurers to instantly and accurately verify coverage, which...
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