Are you looking for ways to make your money grow, build your family fortune, and secure your financial future? From creating budgets to purchasing mortgage life insurance, here are 5 simple steps to build your family’s wealth.
Fewer things can give you the peace of mind and financial stability that comes from knowing your mortgage will be paid off, and your loved ones are taken care of, at the time of your death. A mortgage life insurance will allow them to live in a debt-free home, so no matter what happens, they’ll always have a roof over their heads.
At AIME, we understand why you may be hesitant to purchase traditional bank-issued mortgage life insurance, which is why we’ve developed a more transparent, affordable, and customizable product.
We offer:
- Lower premiums
- Quick approvals process, with no extensive medical underwriting
- The option of choosing your own beneficiary
- Greater portability, so even if you switch lenders, you won’t have to requalify.
Affordable Mortgage Life Insurance That Puts You First
AIME Financial’s leading team of experts has developed 20/20, Canada’s first digitized paperless Mortgage Protection Product, with the aim of making products such as mortgage life insurance as affordable, transparent, and simple as possible.
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4 Steps to Take To Protect Your Family’s Financial Future
Whether it’s saving for college, or planning for retirement, too many people make the big mistake of taking an all-or-nothing approach or thinking that they’ll just catch up later. However, the most important step in securing your family’s financial future is to get started today with what you have.
Begin by following these 4 steps:
1. Build a Cushion
Having an emergency fund to fall back on is going to give you peace of mind at the best of times, and in a shaky economy, it can be a real life-saver, particularly if you lose your job.
How much should I put in my emergency fund? For a two income family, a fund of 3-6 months of living expenses should be adequate.
Your emergency fund should be able to cover the minimum living expenses, including:
- Rent
- Food
- Gas
- Other bill payments
While this cushion won’t pay for your Friday night dinners or regular coffees, it will allow you to handle all your financial needs without taking on more debt.
2. Consult With a Financial Advisor
Even if you have a good idea on how to save your money, you should consider working with a professional if you really want to ensure your family’s future is secure. Professional advisors can answer all of your financial questions, and put you and your family on the track to financial success by creating a unique plan to meet your priorities, whether that’s saving for education, retirement, or a new home.
3. Pay More Than the Minimum
Many Canadians only pay the minimum on their credit cards each month and for families dealing with substantial debt, constantly paying the minimum will ensure your credit score stays flat and you’ll never get your heads above water.
What to do: Though at times, your financial situation may require you to pay the minimum, you should look for better strategies to conquer your debt. If you pay off more debt, your bills will get paid off quicker and you’ll build stronger credit.
4. Purchase Mortgage Life Insurance
Buying a home is easily one of the largest financial transactions that you’ll make in your lifetime, but if left uninsured and unprotected, your mortgage could quickly become your family’s biggest financial liability.
Mortgage life insurance is an innovative product that protects your family and guarantees that your remaining mortgage, at the time of your death, will not be a burden to your loved ones.
Some of the benefits of purchasing MLI over more traditional forms of insurance include:
- It gives you peace of mind, knowing that your mortgage loan won’t cause any financial burden to your loved ones.
- It requires very little underwriting, so it’s beneficial for individuals in poor health or old age.
- It ensures your loved ones will always have a roof over their heads in case of your unexpected demise and is particularly important if you’re the primary breadwinner.
Convenient Mortgage Life Insurance
Call Today
To find out more about our affordable, flexible, and transparent mortgage life insurance products, and how we can help protect and ensure your family’s future financial security, contact one of our licensed agents today at 1-844-974-2020 or fill in our online contact form.
