How do you choose the right mortgage insurance?

Your home provides you and your family with a better quality of life.  It is probably also the most important investment you will ever make and usually represents the first major financial commitment in your life.  Therefore, it’s a good idea to protect it.

Despite all this, you may have decided, perhaps somewhat hastily, not to insure your mortgage loan.  This is not a wise decision.  Even if you have other insurance coverage, would it be enough to face an unforseen event such as a disability or premature death?

By insuring your mortgage loan, you are giving yourself peace of mind in knowing that, in case of disability, premature death or critical illness, the financial coverage needed to pay for your mortgage payments and the home you and your family have lived in to do not become a financial burden.

Unlike most financial institutions that offer mortgage insurance designed to meet the needs of a group of borrowers, Bima4u can help you find a plan specifically designed to meet your personal needs.  Bima4u can help get you options such as:

  • The possibility of negotiating a better loan rate from the financial institution of your chose and still keeping your insurance intact, regardless of any changes in your state of health.
  • A guaranteed premium that will not increase following and interest rate changes when the loan is renewed.
  • The choice of beneficiary designation, with no obligation to name your financial institution as beneficiary.
  • The freedom for your heirs to use the benefits to reimburse the loan or meet other urgent needs.
  • The possibility of obtaining the entire reimbursement of your loan if diagnosed with one of 23 critical illnesses.
  • The peace of mind in knowing that, should you become unable to work due to illness or injury, your monthly mortgage payments are taken care of.
  • The possibility of converting your mortgage insurance to regular life insurance without having to answer any health questions.