Calgarians purchase insurance coverage to protect different things, such as their car or health, but one item that often gets overlooked is mortgage protection insurance. This is true even though a home is typically the largest purchase you will ever make and you work hard each month to make this payment.
But what would happen if you were to suddenly pass away or become ill? Would your family be able to continue making your mortgage payments, or would they be forced to move out due to the financial strain the loss of your income would cause?
Sadly, many people have had to sell their home following the sudden death of a loved one, placing additional stress on them during a very difficult time. The good news? This is an issue that can be prevented simply by purchasing mortgage protection insurance.
Flexible and Affordable Mortgage Protection Insurance
At AIME, we understand just how important an investment your family home is. That is why we have designed 20/20 Mortgage Protection Insurance, an affordable and customizable product that can be tailored to suit your specific needs and financially protect your family during some of life’s most difficult moments.
Want to know more?
How Mortgage Life Insurance Protects Your Home
Mortgage life insurance has been designed for the primary purpose of paying off an individual’s mortgage in the case of the borrower’s death, illness, or disability. This can help your loved ones remain in your family home without worrying about making ongoing, monthly payments.
Mortgage Protection Insurance Gives You Peace of Mind
In addition to reducing the financial strain of having to make mortgage payments, this type of policy will provide your family with a great deal of peace of mind, knowing that they will always have a roof over their heads.
Applying For Mortgage Protection Insurance: How it Works
A mortgage life insurance works in a very similar manner to regular life insurance, with the payout of benefits occurring upon the death of an insured. However, there is the added benefit that these types of policies typically only require a minimal amount of underwriting for approval.
Because of this, MLI can be somewhat easier to qualify for, and individuals who have certain health conditions may still be able to qualify for this type of coverage.
In fact, to be approved for 20/20 MLI:
- No blood work is required
- No physicals or medical examinations are needed
- You must simply answer 5-6 health questions
Why Consider Mortgage Protection Insurance
If you are a homeowner, and the primary breadwinner of your family, there are many reasons why you may want to consider purchasing mortgage protection insurance. This includes:
- It provides your family with the ability to pay off your mortgage.
- Your loved ones can remain in the family home without drastically changing their lifestyle.
- Your family can enjoy greater financial security and will no longer be burdened with mortgage debt.
Getting the Best Mortgage Life Insurance rate
Before purchasing an MLI policy however, you must always do your research and consider several factors such as the costs and benefits of the different policies available.
What To Consider Before Buying MLI
Today, a mortgage is most peoples’ largest expense - and it’s one you don’t want to leave your family saddled with when tragedy strikes. By purchasing a mortgage life insurance policy, you can ensure that this debt is taken care of and that your loved ones can remain in the place they call home.
Protect Your Home & Family With 20/20 MLI
To find out more about the costs and benefits of 20/20 Mortgage Life Insurance and how our agents can help customize your policy to suit your individual needs, visit our office at 1214, 12 Royal Vista Way NW, Calgary, AB, T3R 0N2.
Alternatively, you can contact one of our licensed advisors at 1-844-974-2020 or fill in our online contact form.
