🏡 Life Changes. Your Coverage Shouldn’t.

Whether you're buying your first home or renewing your mortgage, having the right life and disability coverage ensures your home and family are protected—no matter what happens.

If COVID has taught us anything, it’s that change is inevitable—career shifts, health changes, and unexpected life events can happen when we least expect them. That’s why having consistent, portable coverage is so important.

Many people rely on employer-provided insurance, but here’s what they may not realize:

🔹 Switching jobs? Your coverage doesn’t follow—you’ll need to reapply at your new age and health status.
🔹 Health changes? This could mean higher premiums or even not qualifying for new coverage.
🔹 Job loss? Your employer plan ends, leaving you unprotected.

But with mortgage life and disability coverage, your protection moves with you—even if you switch employers or lenders.

Before Moving Your Mortgage to a New Lender, Ask Yourself:

✔ Does your mortgage life & disability insurance move with you?
✔ If not, have you had any health changes?

That shiny lower rate may not be worth it if reapplying for coverage means higher premiums or even denial due to health changes.

If you didn’t take mortgage life & disability insurance when you first got your mortgage, the best time was then—the next best time is today.

📩 Want to learn more? Contact 1-866-677-4366 for advice about this product. For other insurance guidance, you can consult a licensed agent of your choice.

#MortgageProtection #LifeInsurance #DisabilityInsurance #CoverageThatMovesWithYou #HomeownershipSecurity

Closing costs extend beyond your down payment and include various expenses associated with a new home purchase. Here's a breakdown of some common costs:

Legal fees

Working with a lawyer is essential for handling the legal aspects of your purchase and you can expect to spend between $1200 to $1500

Title insurance This protects against any issues with the property's title, such as existing liens or ownership disputes. The cost of title insurance can vary based on the purchase price of the property.

Home insurance

Mortgage lenders require you to have property insurance to protect against potential damages or losses. The cost of property insurance will depend on factors such as the property type, location, and coverage amount.

Adjustments

On closing day there may be adjustments for property taxes. You may be responsible to reimburse the seller if they have prepaid all or a portion of their property taxes.

Generally, lenders ask to show an additional 1.5-4% of the purchase price available to cover closing costs.

As we conclude our 12-week First-Time Home Buyers Series, I want to thank you for your participation whether it was a like, share or comment. Looking ahead, I'd love to hear your thoughts on future topics. What would you like me to cover next? Your feedback shapes the content, and I'm excited to bring you more valuable insights

Mortgage Life Insurance serves as a safety net for your loved ones in the event of your unexpected passing. This insurance ensures that your outstanding mortgage balance is paid off, relieving your family from the financial burden during an already challenging time.

Similarly, Disability Insurance steps in to provide financial support in case you are unable to work due to a disability. Your mortgage payments are covered, allowing you to focus on your recovery without the added stress of potential financial strain.

Relying solely on life insurance coverage provided through your employer can present several challenges and potential drawbacks. Employer-sponsored life insurance is often tied to your job, and is not portable if you change employers or lose your job.

These policies usually provide coverage up to a specific limit, which might not be sufficient to meet your family's needs.

When you apply for Mortgage Life and and/or Disability Insurance with your mortgage, Coverage moves with you even when you change employers or lenders, Your original coverage goes with you. Your premium is locked in at the age you applied.

Understanding the importance of Mortgage Life and Disability Insurance is not just about securing your home; it's about securing your family's future and preserving the dream of homeownership, even in challenging times.

If you’d like to learn more, please reach out. Join us next week in our final installment of our first time home buyers series where we’ll talk closing costs.