1-888-451-6133 [email protected]
 

When taking out a mortgage with a lending institution you should cover off that debt with an insurance policy. Not all coverage options are created equal. Let’s look at the highlights of the two options available to you. Individually Owned Life Insurance vs Mortgage Insurance.

 

Control

Individually Owned Term Life Insurance You own the coverage and choose who receives the death benefit
Mortgage Insurance from lender The lender owns the policy and they are the beneficiary

 

Guaranteed Premiums

Individually Owned Term Life Insurance Your rates are guaranteed for the life of the policy
Mortgage Insurance from lender Mortgage insurance rates are not guaranteed and can increase

 

Portability

Individually Owned Term Life Insurance Coverage remains intact if you switch lenders
Mortgage Insurance from lender You need to reapply for coverage if you move lenders

 

Level Coverage Amount

Individually Owned Term Life Insurance Coverage amount stays the same even as your mortgage decreases
Mortgage Insurance from lender Coverage declines as your mortgage is paid off. Premiums stay the same

 

Comfort

Individually Owned Term Life Insurance Underwritten at the time of application.
No surprises at the time of claim
Mortgage Insurance from lender Underwritten at the time of death

 

Reach out to us today if you want to explore the benefits of individually owned life insurance.

 

 

If interested in learning more,
Don’t hesitate to reach out to us today.
CFS Wealth 1-888-451-6133 or fill out our contact form.
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Confidently invest in your future with CFS Wealth Management. We bring together a team of experts professionals, who each provide a unique and proven approach. At CFS Wealth Management Inc. we proudly offer proven financial strategies to create, build, protect and transfer your wealth.

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22 Kaia Crt
Maple, ON
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About Us

Confidently invest in your future with CFS Wealth Management. We bring together a team of experts professionals, who each provide a unique and proven approach. At CFS Wealth Management Inc. we proudly offer proven financial strategies to create, build, protect and transfer your wealth.

Head Office
22 Kaia Crt
Maple, ON
L6A 4T9

Secondary
9980 Dufferin St.
Box 20011
Maple ON
L6A4M4

Tel: 1.888.451.6133
Fax: 1.866.410.2675
Email: [email protected]

Mon-Fri: 8AM - 6PM

Questions?
Contact us today and begin the process of unlocking your former employer pension plan today!
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