Mortgage Life Insurance Calgary

Article provided by: Freeborn Financial

Mortgage Life Insurance CalgaryLooking for mortgage life insurance in the Calgary area? Turn to the agency more locals trust for their insurance needs. Freeborn Financial can help you obtain the right type and amount of insurance to provide for your family should something happen to you.

Mortgage life insurance will repay your mortgage debt in the event of your death. This type of policy differs from a traditional life insurance policy in that it pays out at the death of the policy holder if the mortgage is still in existence. This benefit can proved to be an enormous benefit to the family of the policy holder, removing the heavy burden of paying off the mortgage on their home in the absence of their income.

Mortgage life insurance in Calgary is typically offered via two types of policies:

- The first type is known decreasing term or a reducing coverage policy, and lowers your policy payments as the amount of coverage decreases, due to your mortgage being paid down. This is a very affordable type of insurance and one that should be considered by any homeowner with a family depending on the policy holder’s income to pay down the mortgage.

- The second type is known as level term insurance, whose payments do not decrease as the mortgage is paid down. This type of policy typically offers lower payments at the beginning of the policy, but does not come with the added benefit of a reducing premium.

We invite you to contact a knowledgeable agent from Freeborn Financial with regard to finding the right policy to meet your needs. Their expertise can assist you in determining the policy that will best serve your loved ones in the event that something should happen to you.

Protect your loved ones against the burden of having to pay off your mortgage without your help. Learn more about owning a mortgage life insurance policy from Calgary agency Freeborn Financial by calling 403-238-0238.

There are several mortgage life insurance policies that also pay out in the event that the insured is diagnosed with a terminal illness and is expected to die within 12 months. Different insurance companies offer different terms or features designed to reflect a range of conditions that must be met for the payout of the policy. We invite you to speak with an agent from Freeborn Financial to discuss your needs and expectations from your policy.

In the event that your mortgage life insurance policy is imbedded into the cost of your home loan, you are most likely overpaying for mortgage insurance. Consider purchasing your policy from Freeborn Financial to save as much as 50% on the cost of your insurance. Request a free quote on the home page if you’d like to compare what you’re currently paying through your lending institution with the cost of a policy from Freeborn Financial.

If you have questions that require immediate answers, make a call to an agent at 403-238-0238 or send your questions to Mortgage Life Insurance Calgary
Freeborn Financial
16 Midlake Blvd, Suite 319 Calgary, AB T2X 2X7

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