Personal life insurance vs. mortgage life insurance - PowerPoint PPT Presentation

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Personal life insurance vs. mortgage life insurance

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Insurance is about having your family properly protected. – PowerPoint PPT presentation

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Title: Personal life insurance vs. mortgage life insurance


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Personal life insurance vs. mortgage life
insurance
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  • Insurance is about having your family properly
    protected. When you take insurance with your
    mortgage, you have to consider a few advantages
    the personal life insurance has over the mortgage
    insurance plan with the bank

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  • The personal life insurance is a guaranteed
    product. The insurance company cannot modify the
    coverage and the price
  • The personal life contract pays directly to your
    family. The mortgage insurance pays to the bank

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  • The personal life insurance is not affected when
    you change mortgage providers. If you are insured
    with a mortgage insurance, it would be negotiated
    every time you change lenders
  • The personal life insurance is usually for a
    longer term than the mortgage contract

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  • The personal insurance is with a fixed coverage
    amount, while the mortgage insurance plan is with
    a decreasing coverage amount equal to the
    outstanding mortgage balance

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  • The personal term life insurance is renewable
    (you can keep it for a subsequent term) and it is
    also convertible to a longer term or to a
    permanent insurance contract. The mortgage
    insurance cannot be modified

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  • The personal term life insurance in many cases
    would be more affordable than the mortgage life
    insurance.

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  • To Know More Information, Visit Us

http//iassure.ca/en/life-insurance-home/
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