If your mortgage is not protected, you risk losing everything
I’m writing to you today to make sure you have appropriate insurance coverage on your mortgage. When you applied for a mortgage you were given the opportunity to apply for life and/or disability coverage through Mortgage Protection Plan. If you have taken the insurance this might be a good time to review your total coverage on both your life and disability policies. If not, this definitely is a good time to ensure your coverage is adequate.
Over the years, many of us in the mortgage industry have come in close contact with tragic stories; stories about families who had to sell their homes or face foreclosure as the result of a breadwinner suffering a serious disability or passing away unexpectedly. Naturally, I do not want to see something like that happen to any of my clients.
My office offers Mortgage Protection Plan®, underwritten by The Manufacturers Life Insurance Company, part of Manulife Financial, which is a leading Canadian-based financial services group serving millions of clients in 22 countries and territories worldwide. This insurance plan provides life insurance that will pay off your mortgage in the event of death and offers total disability protection as well.
Some people believe that the average Canadian has plenty of life insurance protection, and that programs like Mortgage Protection Plan are an unnecessary “frill.” But don’t risk being misinformed – be sure you do your research.
I always encourage all my clients to make sure they have enough insurance to cover all their obligations, especially their mortgage.
Relying too heavily on employee benefits insurance can also lead to a false sense of security. Even if you have a very generous plan right now, what happens when you decide to move to a different employer, or – as is getting more and more common these days – become a self-employed entrepreneur?
It may take some time to evaluate the coverage you already have right now. Why not be protected in the meantime? Mortgage Protection Plan protects you as soon as you complete the application and comes with a 60-day money-back guarantee.
Please click here to review the brochure and if you are interested in finding out how little it might cost to protect your mortgage, please do not hesitate to contact me.
Brian Mill, AMP
Neighbourhood Dominion Lending Centres