|
|
|
Cheap Insurance - Ten Tips
Cheap insurance? Auto insurance, life insurance, health insurance, liability insurance - whatever type of insurance you need, you can buy it for less. Try the following: 1. Raise you deductible. Why have a $100 deductible if a $1000 deductible...
Critical illness insurance and life insurance cover for better and for worse.
There are three main types of insurance cover you can buy to protect yourself and your family: life insurance, private medical insurance and critical illness insurance. If you want your financial health to be completely bionic then you could choose...
Disability insurance
Disability insurance will allow you to keep a usable income even if you are disabled. Disability insurance is the best way to make sure that your income will be protected. While everybody can benefit from disability insurance, it is especially...
Eleven Money-Saving Auto Insurance Tips for Senior Drivers
Like all drivers, senior citizens (or as I like to call them “seasoned citizens”) want to get the best rates on their auto insurance policies. What they may not be aware of is that older drivers may present a higher risk than other drivers, usually...
Flood insurance
Flood insurance is not included in basic home owner's insurance! Interestingly enough, one of the worst natural disasters that could possibly affect your home is not included under most normal home owner's insurance policies. As a result, flood...
|
|
| |
|
|
|
|
|
|
Mortgage Insurance Plans: How Good Is Yours?
Mortgage insurance, to pay off a mortgage, is something you'll inevitably be asked to take out by the bank. Mortgage insurance is necessary so that if something happens to you or your spouse then your loan will be paid off which is good news for your family and the bank. Banks act as if doing you a favour by offering mortgage insurance through their own group plan. Are they?
Mortgage Insurance Is Probably A Much Better Deal From Any Number Of Insurance Companies.
Mortgage insurance is no different than term life insurance; in fact it is term life insurance. With either, your policy lasts for a specified period of time and pays if something happens to you or your spouse if you are both insured. The real difference is how much control you'll have over your policy and how much you'll pay for it.
Mortgage insurance offered by the bank, does not allow you to customize a policy to fit your needs and you'll be lumped together with other borrowers under a group plan. So, you will have no control over your policy. For example, through a company of your choice, such as Canada Life or National Life, you would be able to choose your own beneficiary and decide how to spend the proceeds. These options are not available with a mortgage taken from a lending institution. If the insured party dies, the mortgage loan is completely paid off, even if you need some money for other things.
Additionally, the bank has the right to not renew your policy and to cancel the policy when you sell the house. Do you want to give up this control as now you may have become uninsurable?
MORTGAGE INSURANCE COSTS MORE FROM A
BANK
Your own premiums will not go up in the life of a 20 year policy so you would pay the same premium today that you'd pay ten years from now. You won't get that same guarantee from a bank which can increase your premiums during the life of the policy. In addition, you could pay as much as 40% more right now than if you shopped around and found your own insurance provider. Not to mention that the policy you take out through your bank will gradually decrease in face value while a plan you select from an outside source will have the same face value during the entire policy period.
Of course, many people don't mind paying more for their mortgage insurance because it's more convenient than dealing with insurance agents. But the truth is that you can easily find a policy that fits your needs and provides affordable premiums via the Internet. An organization, such as The Hughes Trustco Group, can generate quotes for you from all the providers so you'll know that you're receiving the best deal possible on the policy you want.
Mortgage insurance is important and should be part of your home buying or refinancing preparations, but that does not mean you need to pay more or let the bank make important decisions for you. Instead, you should find your own personal plan at a company that you choose which will let you stay in control of your policy and will save you money in the long run. You can get a quote right here at Mortgage Insurance.
About the Author
Ivon T. Hughes, The Hughes Trustco Group Ltd.
Online Insurance Broker - Get a FREE Quote TODAY!
Tel: (514) 842-9001 Email: info@trustco.ca Web: http://www.hughestrustco.com
|
|
|
|
|
| Insure.com Car Insurance Quotes, Term Life Insurance Quotes, Auto ... |
| Insure.com provides instant online car insurance quotes, term life insurance quotes, auto insurance quotes, health insurance quotes, home insurance quotes, ... |
| www.insure.com |
|
| Insurance Information Institute (III) |
| Attempts to improve public understanding of insurance -- what it does and how it works. The site is subdivided into sections for "Individuals" (consumer ... |
| www.iii.org |
|
| State Farm Insurance Companies |
| Provider of auto, health, home and life insurance. Get quotes and agents listings. National headquarters. |
| www.statefarm.com |
|
| Allstate - Official Site - Auto Insurance, Home Insurance ... |
| Offers insurance for autos, homes, property, life, mortgage protection, and business. Site includes many useful calculators and tools, an agent locator, ... |
| www.allstate.com |
|
| Progressive Auto Insurance - Car Insurance Quotes Plus Boat, RV ... |
| Provides instant online auto insurance quotes, insurance rate comparisons. Offers motorcycle, RV, boat, or car insurance. Purchase insurance online. |
| www.progressive.com |
|
| Insurance - Wikipedia, the free encyclopedia |
| It cannot put the insurance company in financial jeopardy. ... If the insured does not perform then the insurance company does not have to perform. ... |
| en.wikipedia.org |
|
| Cheap annual travel insurance | single trip holiday insurance quotes |
| Cheap quotes for annual travel insurance and single trip holiday insurance online with moneysupermarket.com. Over 450 policies compared in seconds... |
| www.moneysupermarket.com |
|
| California Department of Insurance |
| Works to foster an insurance market that is fair, competitive and accessible to all Californians. Site designed to assist consumers, aid in the licensing of ... |
| www.insurance.ca.gov |
|
| Insurance: Car, Auto, Life, Home, Business and Investment Services ... |
| Nationwide offers insurance and services including: car insurance, auto insurance home owner insurance, business insurance as well as investment services. |
| www.nationwide.com |
|
| GEICO Car Insurance. Get an auto insurance quote and save today ... |
| Offers auto and motorcycle insurance. Request quotes online or by phone. File claims online. |
| www.geico.com |
|
| Insurance Center - Yahoo! Finance - Find the Right Insurance for ... |
| Insurance Center - Protect and insure your assets with comprehensive resources about auto, home, health and life insurance. |
| insurance.yahoo.com |
|
| Compare Auto Insurance Quotes from Top Auto Insurance Companies |
| America's #1 online insurance agency. Compare instant auto insurance quotes, car insurance quotes, life insurance quotes, home insurance quotes, ... |
| www.insurance.com |
|
| Car Insurance, Home Insurance, Travel Insurance, Life Insurance UK |
| Provide travel, home contents and car insurance for professionals, graduates and students. |
| www.endsleigh.co.uk |
|
| Home Insurance Quotes, Car Insurance Quotes - Lloyds TSB Insurance |
| Home Insurance Quote, Car Insurance Quotes, cheap Travel Insurance, Pet Insurance, Business Insurance. Up to 15% discount for buying insurance online. |
| www.insurance.co.uk |
|
| Car insurance, Home insurance, Life insurance & more - Direct Line |
| Direct Line offer car insurance, home insurance, life insurance, travel insurance, mortgages, personal loans,breakdown cover and much more! |
| www.directline.com |
|
| PA Department of Insurance |
| State regulatory authority. Site provides information for consumers, producers, and the insurance companies themselves. |
| www.ins.state.pa.us |
|
| Texas Department of Insurance |
| Regulates the state's insurance industry, encouraging competition to make insurance available and affordable. [some content available in Spanish] |
| www.tdi.state.tx.us |
|
| Life Insurance (U.S. Department of Veterans Affairs) |
| Informationa about all Life Insurance programs administered and supervised by VA. |
| www.insurance.va.gov |
|
| Insurance for Canada and the United States by RBC Insurance |
| Specializes in life, health, travel insurance, and annuities for middle income families in Canada and the United States. Site offers individual, family, ... |
| www.rbcinsurance.com |
|
| Free Auto, Health, Life and Homeowners Insurance Quotes - MSN Money |
| Get free auto, health, life and homeowners insurance quotes from top insurance companies in the country. Find the latest news and information related to ... |
| moneycentral.msn.com |
|
|