Did you know that you don’t have to buy mortgage protection insurance through a bank? In fact, it’s in your best interests to purchase home mortgage insurance through a recognized insurance broker, such as HDF. We encourage you to take the time to watch the CBC Marketplace segment on mortgage life insurance. This investigative report provides critical insight and advice that you may not be aware of.
Link to CBC Marketplace video
Home Mortgage Insurance – Post-Claim Underwriting Means You’re Only Qualified to Pay Premiums
When it comes to home mortgage insurance, banks operate on the principle of post-claim underwriting. That means that your eligibility for insurance is actually determined when a claim is submitted. In essence, when you qualify for mortgage protection insurance, you are simply qualified to pay premiums and not necessarily eligible to receive a claim.
Protect Your Family with Mortgage Life Insurance from HDF Insurance
When you buy mortgage life insurance through HDF, your eligibility is determined at application time. If you qualify, you are covered. Period. Other benefits of purchasing mortgage protection insurance with us include:
- As you pay down your mortgage, you may reduce your insurance, therefore reducing the cost.
- You have total control over your policy; the bank doesn’t automatically get the insurance money; you determine the beneficiary
- The amount of the payment is fixed, as determined by your policy
We would be happy to answer any questions you have about mortgage protection and provide more information. Protecting your family and your home is critical. We can help you do it right. Contact us today to speak with our knowledgeable life insurance representatives.