Glen Gillis - Sun Life Financial

Description

When it comes to buying a home, you take the time to carefully consider all your options and make sure the property you choose is just right for you. Here are a few reasons why you should consider personal life insurance instead of mortgage insurance.
- Mortgage lenders are automatically the beneficiary, with a personal plan you name the beneficiary. - With lenders, insurance covers only your mortgage balance, with personal plan you choose how the payment is used - to pay off mortgage, eliminate other debts, provide money for children's education - whatever decision is best for your family. - With lenders, even though your mortgage debt reduces over time, your premiums stay the same. With personal plan your coverage does not decrease unless you decide to change it. - With lenders, if you switch mortgage companies, you may lose your coverage and be required to re qualify for new mortgage insurance. With a personal plan your insurance remains in place even if you take your mortgage to another company. - With lenders, you lose all coverage if your mortgage is assumed or in default. With personal plan, as long as your premiums are paid, your coverage is maintained even if your mortgage is assumed or in default. - With lenders, you have no flexibility to change your coverage as your needs change. With personal plan, depending on the type of insurance you choose, you may have the flexibility to adjust the type and amount of coverage. For more information Contact: Glen Gillis Advisor Sun Life Financial