Insurance Advantage Offers Dependable Life Insurance on Mortgage Plans

Toronto, Ontario (December 16, 2013) – Insurance Advantage is offering options for life insurance on mortgage for people who are looking to protect a repayment mortgage for a specific property. With this type of policy,  outstanding mortgage can be settled through a capital sum in the event that the insured passes away.

Generally, banks offer insurance to individuals who opt for home mortgages, which a great majority of the latter accept without much hesitation. Unfortunately, there are risks involved in accepting these offers, as explained in a CBC Marketplace episode entitled “In Denial.” The serious pitfalls include denied coverage as a result of post-event underwriting on the part of the bank, which tries to look for reasons to avoid paying out the policy. Another is the risk of premiums increasing slowly as the mortgage decreases with every payment, while the former remains constant.

http://insuranceadvantage.ca/insurance-advantage-offers-dependable-life-insurance-on-mortgage-plans/