Is the purchase of a new home in your near future? Are you aware of the options available to insure your mortgage? Learn how Mortgage Protection Insurance provides the best coverage option for your family.
Whether you are purchasing a home for the first time, or you’ve already bought and sold many homes, understanding the importance of Mortgage Protection Insurance will not only save you money, but leave your loved ones in a better position if something were to happen to you.
Portable Life Insurance to Meet Your Needs
At AIME, we know just how important a family home is to the well-being and happiness of your loved ones. That’s why we’ve designed 20/20 Mortgage Life Insurance, a flexible, affordable, and transparent product that can be customized to suit your budget and unique needs.
Want to know more?
BENEFITS OF PURCHASING 20/20 MORTGAGE LIFE INSURANCE
Mortgage Protection Insurance Provides the Best Coverage
If your family relies on your income, you want insurance coverage in the event something should happen to you. Mortgage protection insurance will make sure that your family is financially secure and ensure that your mortgage will not be a burden to your family.
But how is AIME Mortgage Protection Insurance better than the mortgage insurance provided by lending institutions?
1. Ownership and Flexibility
The Mortgage Insurance provided by your bank provides insurance for the bank. It will pay off your remaining mortgage – nothing more, less, or different and the payout goes to the lender.
AIME Mortgage Protection Insurance provides insurance to YOU - the owner. This means that in the event of your death, you designate who is responsible for deciding what happens with the insurance payment. This will allow your family to use the payout for numerous things, such as:
- Paying off the mortgage
- Paying any other debts
- Taking time off work to care for the children
- College or University fees
2. Portability
The mortgage insurance policy provided by your lending institution is renewable each time you renew your mortgage. What does this mean? If you move your mortgage to another bank, you will need to re-qualify for mortgage insurance. Oftentimes, this leads to higher premiums.
On the other hand, AIME Mortgage Protection Insurance provides coverage for a mortgage for a specific period of time, regardless of remortgaging with your current institution or another lender.
3. Cost
The cost of the mortgage insurance your bank offers will increase each time you renew your mortgage because you are aging. Your AIME Mortgage Protection Insurance payments will remain the same for the entire duration of your policy, regardless of mortgage renewal. And because we have much lower operating costs than a bank, you can enjoy lower premiums for a more comprehensive MLI that ALWAYS works in your favor.
Your AIME Mortgage Protection Insurance payments will remain the same for the entire duration of your policy, regardless of mortgage renewal. And because we have much lower operating costs than a bank, you can enjoy lower premiums for a more comprehensive MLI that ALWAYS works in your favor.
Call Today
To find out more about our affordable mortgage life insurance rates and customizable policies, contact our licensed agents today at 1-844-974-2020 or fill in our online contact form.
