Mortgage/ Creditor Protection
Protecting your family against the loss of your home is an important need for anyone who has a mortgage or line of credit on your lives. Let us show you how owning a private mortgage policy is far more beneficial than mortgage policies offered by banks and other mortgage lenders. We make it easy for you to obtain quotes for mortgage and disability protection by simply filling out a simple form. Click the button on the right for a free quote or to sit with us and chat about your unique situation and how we help guide you through the mortgage insurance process.
Bank mortgage insurance vs. TLH Benefits private insurance
When you are in front of your bank manager for the signing of that mortgage that all of us go through, a further form is placed in front of you. This is for bank mortgage life, and in many cases, disability mortgage insurance. On the face of it, this “insurance” seems like a good deal, but is it really??
The receiver of those policy proceeds are crucial. Do they go to you? No – they go straight to the bank, no questions asked! In the case of mortgage life insurance, your beneficiary MUST pay out the mortgage immediately, no choices whatsoever. If that beneficiary desperately needed the proceeds for something else before the mortgage is paid, that is too bad – with mortgage insurance, that balance MUST BE PAID, and nothing else.
Does it pay the whole mortgage? It does not – besides that mortgage balance, the penalties to discharge the mortgage are also to be paid – which the insurance will not cover. Your beneficiary may have to pay thousands of dollars out of pocket to discharge the mortgage – and because of the terms of that mortgage and the insurance, IT MUST BE PAID! The death of one of the mortgage holders may leave their families in terrible shape, even if there is insurance!
Similarly, the benefits of mortgage disability insurance are paid to the bank, and for nothing else. And furthermore, the benefits usually end when the mortgage is to be renewed or the house is sold!
So: the benefits of the insurance, the signup papers that are being placed in front of you are entirely for the bank. Is there anything better, you ask?
THERE IS! We supply you a mortgage life and/or disability package where the benefits are in the right hands – yours or your beneficiaries, NOT the bank! And, these policies are often less expensive than what the bank charges you!
How do you get a quote?
Simply click on the “Get a Quote” button, fill out the simple form, and we will get back to you to arrange a meeting to show you a great alternative to what that bank shows you!