Industrial Alliance Life Insurance

One of the most important purchases a family makes in the course of their lives is the purchase of a home. Many of your monthly expenditures are focused on the fact of owning that home: cable, telephone, electricity, water and gas, not to mention maintenance, have a day a part of their monthly income. The bill, which in many cases has the highest proportion of their income is mortgage, the monthly payment of your home. And the bill to be paid above all the other expenses you can defer or must be lived without, but if the mortgage is not paid in due time, no family home to live

However, a family could be found in the tragic situation in which one of the persons responsible for making the monthly house payment is incapacitated or dies, and his family can not pay the mortgage. In that case, your family might face not only the death of a loved one, but the loss of housing and credit, too.

Industrial Alliance Mortgage Insurance

Fortunately, there are plans that can help you avoid this unfortunate case. Industrial Alliance Mortgage life insurance is designed for such protection. Mortgage life insurance is a low cost, flexible method to protect your family one of the most important investments. If you develop a terminal illness, maintaining a serious injury, become disabled, your mortgage insurance can offer several advantages:

You can pay your outstanding mortgage amount. This is the main reason that most people buy this type of insurance. If you die or become incapacitated, the balance of your mortgage is paid off. You can, however, remain responsible for any cause in which no payments have been made.
You can pay up to five years of accrued interest.
You can pay any property taxes you owe at death to their heirs are not left struggling with taxes.

If you are diagnosed with a terminal illness, can be given the option to pay early, so you can be sure that before his death is the penalty home for his family.

Most people sign up for Industrial Alliance mortgage insurance at the same time they apply for their mortgage. This ensures that your family is protected even before closing on your mortgage, so if something happens to you, although still able to move to the new home they have planned.

Application for mortgage insurance

The cost of Industrial Alliance mortgage insurance is based on the age when you apply for the policy and the amount of your mortgage. Your premiums will not increase as you get older, if the conditions of your mortgage stays the same. They are also conveniently rolled your Industrial Alliance mortgage payment, so you are not paying two bills each month. You are eligible to apply if you are a resident of Canada, between 18 and 69 years, and have been approved by a Canadian residential mortgages.

Industrial Alliance Life Insurance

Articles from April 2009
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