Mortgage Insurance from Banks, Trust Companies or Credit Unions

Privately Owned Mortgage Insurance

You receive Certificate of Insurance under an umbrella policy issued by Insurance Company.

You receive a Legal Contract of Insurance between Yourself and the Insurance Company of Your choice.

Insurance is part of a group and SUBJECT TO CHANGE of carrier and or terms.

The Insurance is not part of a group and YOU DECIDE how to tailor it to your needs.

The LENDER OWNS the Certificate of Insurance.

YOU OWN your Insurance Policy.

The LENDER is the BENEFICIARY.

YOU NAME YOUR OWN BENEFICIARY.

The amount of Protection REDUCES with each Mortgage payment you make.

YOU SELECT the amount of Insurance which NEVER REDUCES, unless YOU DECIDE to reduce it.

Cost of Insurance does not decrease even though the amount of protection does.

Insurance Protection is TRANSFERABLE to other properties and or change of Financial Institutions.

Insurance Protection is NOT TRANSFERABLE and limited to the Mortgage you have for a certain property and with a certain Financial Institution.

Insurance Protection DOES NOT LAPSE regardless of the situation, as long as you maintain your premiums.

Insurance Protection LAPSES if you default on your Mortgage payments.

Insurance Protection is PORTABLE anywhere in the world.

Insurance Protection STOPS when the property is sold.

Insurance Protection CAN BE CHANGED TO PERMANENT coverage without evidence.

NO CHANGES are permitted under the plan.

The insurance Protection is GUARANTEED RENEWABLE to age 75/85/100 depending on the plan.

The Insurance Protection is NOT guaranteed renewable for a new Mortgage.

Insurance coverage is GUARANTEED after issue, and NO EVIDENCE of insurability is required to the end of the plan.

If you change Financial Institutions, you MUST PROVIDE EVIDENCE of Insurability. Insurance coverage is likely JOINT COVERAGE. Loss of Insurance on payout.

INDIVIDUAL INSURANCE COVERAGE, with no loss of Insurance on payout.

In case of Common Disaster, ONLY the Mortgage is paid if both owners die.

Insurance Payments will DOUBLE in a Common Disaster and both owners die.

You have a TELLER to look after you who can be replaced any time by someone you do not know.

You have a PROFESSIONAL ADVISOR whose interest is directly related to yours at all times.