WHAT IS MORTGAGE PROTECTION?
Most banks offer mortgage insurance as part of their mortgage packaging. But did you look carefully before you signed on the dotted line? You may find yourself with insurance that does more to protect your bank than you and your family.
Mortgage Protection from Ransome Financial, provides financial protection for you and your family in case of death, illness or disability, using a combination of life insurance, critical illness insurance and disability insurance.
Unlike mortgage insurance offered by the bank, Mortgage Protection from Ransome Financial pays you and your family, not the bank!
Watch this video to learn more.
With RANSOME FINANCIAL
You can purchase any kind of low cost insurance product for any amount of coverage you require.
Full payment is made to your beneficiary for use as they see fit.
You name the beneficiary.
Coverage will continue no matter what happens with the house:
- Switch banks
- If you pay the mortgage off
- Sell the home
With BANK or LENDERS
Mortgage coverage is a decreasing term insurance, which means, your premiums remain the same even while your mortgage reduces.
The outstanding balance of the mortgage is paid to the bank upon death of the insured.
Unable to name a beneficiary (The beneficiary is the bank).
Coverage is not transferable if you change mortgage lenders.
Coverage will terminate if:
- Mortgage is repaid
- Mortgage is assumed
- Mortgage is in default