importance of having life insurance protection on mortgages
or long term loans can not be over stressed. The question
is, which way is best?
policies are now available with a combination of life,
critical illness and loss of income by accident or sickness
all in one. This offers the broadest protection and
can cover on a joint basis.
and other financial institutions offer coverage to pay
off the balances on loans they arrange. There are however,
some points you should be aware of.
Applications are not underwritten until time of claim.
This puts you at risk of being medically rejected
for cover based on information either you submitted
or omitted from the application.
is directly to the bank, and only to the maximum of
the outstanding balance.
of the outstanding balance reduces the amount to be
paid. Changing to Biweekly payments or cash pay downs
do not reduce your premiums.
you change to another loan company, insurance is not
transferable. This requires replacement at the then
disability income is provided, only the interest portion
is insured, not the principal. Leaving the balance
of the loan unchanged and resumed payments when coverage
policies offered by Gwilliames and Associates avoids
these problems and can also compete with bank charges
by providing competitive products from a variety of
Underwritten at application (full approval in as little
as 72 hours) which guarantees coverage will be there
at time of claim.
choice of fixed amounts or reducing coverage good
for 35 years or more .
allowing you to change loan companies ,to gain rate
advantages, without disturbing your protection.
to family, giving them the option of either paying
loan or providing family support in any way or a combination
amounts of coverage written into contract (Not tied
to outstanding balances).
our Disability coverage, we pay principal amount and
interest too, during insured period.
to convertible to ordinary life coverage. For long