*Great Info for*: ANYONE WHO OWNS OR PLANS TO BUY A “H-O-M-E”

…..Better Mortgage Insurance coverage @ lower rates!??

Are you paying too much for your mortgage insurance? Or do you even have any?

You may have taken out the insurance that your bank or credit union offered you when you applied for a mortgage. If you did, that was good thinking. What you owe on your home is probably the single biggest debt you’ll ever incur, so it makes sense to have it fully insured.

BUT, there’s always a “BUT” =)

…Like many other people, you may not have known that you can obtain better coverage at a LOWER rate by buying your OWN Individual Insurance Policy!!

*Generally speaking, the insurance offered by the bank is a “one size fit’s all” product. Individual insurance, on the other hand, is based on “your own medical condition”. If you’re in good health, why would you want to pay the same rates as someone who is un-healthy and smokes a pack a day?!? (That doesn’t seem fair or makes sense!?)

*Should you change banks when your mortgage renews, or sell your home and purchase a new one; You Lose your bank insurance coverage, & have to re-apply at your new lender. With an individual policy, you’re free to shop the market for the best rate at renewal. You can take your insurance coverage with you, without ever having to submit new medical information.

*The financial institution is named as beneficiary on insurance from the bank. You pay the premiums, but they’ll get the money, should something happen to you. An Individual policy owner, Allows “YOU” to name your own beneficiary. –Meaning your loved ones whom you’ve chosen as your beneficiaries, would receive the money to either pay off your outstanding mortgage or they don’t have to either, the beneficiary could use the insurance money to save for kid’s education, invest the proceeds instead, etc, etc.

‘YOU’ have a choice with your beneficiary with Individual Insurance….BUT with mortgage insurance @ your bank; ‘THEY’ are the beneficiary and receive the proceeds!

If you’re interested in getting a comparison quote or learning more about how an individual mortgage insurance policy could work for you, please don’t hesitate to contact me. I’d love to hear from you!

Sarah C. Klassen

financial security advisor

204.770.3006

skrealfinancial@gmail.com