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MSI - Mario Schwarzenberg Insurance Services Inc.

Mortgage Insurance

MSI - Mario Schwarzenberg Insurance Services Inc.Your home, in most cases, is your biggest investment. To protect yourself, your spouse and your children, you can buy mortgage insurance.  It is usually offered by the bank you have your mortgage with. However, using private insurance, offered by an insurance broker, will offer you more options on better terms. Usually, you will also save yourself some money.  With private insurance, you and your family will benefit from much more protection.  If you died yesterday, your family would need to replace your income for everyday needs, not only pay off the mortgage. In some cases, it might be more beneficial to continue paying the monthly mortgage payments, as money would be more needed in other areas.

When buying insurance, you should take your overall financial need into consideration, not just your mortgage.

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Here Is Why Personal Insurance Works Better For YOU:

Mortgage Insurance With A Bank

Personal Mortgage Insurance

• Bank Controls It
• Bank Owns The Insurance
• Money Goes To The Bank
• You Have To Re-Qualify At An Older Age When You Move Your Mortgage
• Ends When You Pay Off Your Mortgage

*$250,000 mortgage – $ 61/month

• You Control It
• You Own The Insurance Money Goes To Your Family
• You Have It No Matter Who Holds Your Mortgage
• You Can Change It To Permanent Life Insurance Without Medical
• Available Additional Benefits (e.g. Member Benefits)
• Personal Service
* John $500,000 – $27/month & Mary $500,000 – $21/month

* bank mortgage insurance $61/month for $250,000 coverage vs. private $48/month for $1,000,000
*Sample rates (Mary age 37 non-smoker & John age 37 non-smoker)

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