If you have a family and a home, taking the steps to protect what’s most important to you is absolutely crucial. At AIME, we have created flexible, transparent, and fair mortgage life insurance and mortgage disability insurance policies to suit all your unique needs.
Your family home is likely to be your largest, and most important, investment. It is what provides shelter for you and your loved ones, and it can be a haven from the outside world. However, have you ever considered what would happen if your family was to lose the roof over their heads?
AIME’s Mortgage Life Insurance makes sure that this never happens. Designed specifically to pay off your outstanding mortgage in the event of death, disability, or critical illness, this type of insurance policy ensures that your loved ones will be able to:
- Continue to live in a mortgage-free home.
- Financially cope in the event something happens to you.
- Enjoy peace of mind, knowing they’re free of any major debt.
- Spend your insurance funds in a responsible manner that suits their needs.
Affordable & Transparent Mortgage Life Insurance & Disability Life Insurance Policies
At AIME, our team of financial experts have developed 20/20: Canada’s first digitized paperless Mortgage Protection Product, with the aim of making products such as mortgage life insurance and disability life insurance policies as convenient, fair, and affordable as possible.
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5 Unique Benefits of 20/20 Mortgage Life Insurance
Not many things can give you the peace of mind that comes from knowing your mortgage will be paid off, and your loved ones looked after, at the time of your death, especially if you are the primary breadwinner.
20/20 mortgage life insurance allows them to live in a debt-free home, so no matter what happens, they’ll always have a roof over their heads.
20/20 Mortgage Life Insurance vs Traditional Bank-Issued Mortgage Life Insurance
At AIME, we are all too aware of the limitations associated with traditional bank-issued MLI. That’s why our team has developed a product that is infinitely more transparent, affordable, and convenient.
Here are 5 unique benefits of our MLI product:
1. We Offer Lower Premiums
We pride ourselves on providing our customers with a simplified insurance process, while also offering an extremely affordable and accessible product. How we do this: Since our operating costs are significantly lower than a bank’s, we can offer our customers a cost-savings of up to 20%.
What does this mean for you? You will be able to save thousands of dollars over the course of your mortgage. On top of that, our licensed insurance advisors are always on hand to discuss your unique needs and find the most cost-effective solutions for you.
2. We Don’t Require Extensive Medical Underwriting
One of the biggest benefits of AIME mortgage life insurance is that you don’t have to undergo an extensive medical examination. To be approved:
- You must answer 5-6 simple health questions
- No blood work is required
- No medical examinations or physicals are required
Based on the questionnaire we give you, our team will be able to confirm online, or through an agent, whether or not you have been approved. If you have, a policy is sent out by e-mail.
3. We Give You The Freedom To Choose Your Own Beneficiary
One of the largest drawbacks of purchasing bank-issued MLI is that your insurance benefits will be payable to your lender and not your family. At AIME, we not only give you comprehensive coverage, but we also give you the freedom to choose your beneficiary.
This has many benefits because it:
- Puts you in total control of your mortgage life insurance policy
- Ensures that your payout goes to your loved ones and not the lender
- Allows your family to use the payout in a way that is best suited to their needs
How this benefits you: When you buy a 20/20 mortgage life/disability insurance policy, you’ll know that your payout is going to the people who matter most, and that your family will have whatever they need to financially protect their future.
4. We Give You Portability
Traditionally, your mortgage life insurance is tied to your mortgage. This means that if you decided to move to another lender, you’ll have to requalify for coverage. In most cases, you’ll be older, and your new premiums will be much higher.
But with AIME, your policy moves with you! When you purchase a 20/20 MLI policy, it’s mutually exclusive of your lender, meaning that even if you choose to switch lenders in the future, you won’t lose your protection and you’ll never need to requalify.
5. You Can Buy Your Policy Online
One of our aims when creating 20/20 MLI was to make a product that was more accessible and convenient, which is why you can purchase your policy online.
However, if you are not comfortable with this, you can also talk with one of our licensed advisors. They will guide you through the entire process and address any questions or concerns you may have.
Call AIME Today
For more information on how AIME can help create a mortgage life/disability insurance policy that suits all your unique needs, contact our advisors at 1-844-974-2020 or fill in our online contact form.
