Ashleigh Pidgeon
Sun Life Financial
Mortgage, Life and Critical Illness Insurance Specialist
Ashleigh graduated from BCIT with a diploma in Marketing Management - Entrepreneurship. Her mother has been in the Life Insurance Industry for over 30 years. It's been a perfect fit for her to work in this career that she is so passionate about and was engrained in her from a very young age. She will make sure you get the best plan for your needs and inform you to make the right decisions for your future.
Are you thinking about buying a home?
When you take that big step, the bank or financial institution holding your mortgage will ask you to buy their mortgage insurance.
Did you know that as the amount you owe on your mortgage goes down, so does the amount covered by the mortgage insurance? But your premiums will stay the same!
Instead of mortgage insurance with the bank or financial institution, a better alternative may be your own life insurance policy to cover your mortgage. The value of your insurance policy doesn't change as your mortgage debt decreases.
Inform yourself about the advantages of personal life insurance to cover your mortgage?
Consider the differences:
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Mortgage insurance through the Bank/Lending Institution The insurance covers only your mortgage balance. Even though your mortgage debt reduces over time, your premiums stay the same - meaning you're paying the same amount for less protection. If you switch mortgage companies, you may lose your coverage and be required to re-qualify for new mortgage insurance. You lose all your coverage if your mortgage is assumed or in default. If you cancel your coverage, you lose all of the premiums you paid. You have no flexibility to change your coverage as your needs change. |
Personal Life Insurance
You name the beneficiary.
As long as your premiums are paid, your coverage is maintained even if your mortgage is assumed or in default.
Some types of life or critical illness insurance give back a portion of your premiums if you cancel your coverage.
Depending on the type of insurance you choose, you may have flexibility to adjust the type and amount of coverage.
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Because your home is more than just where you live, when you purchase a home, you choose one that suits your needs and your own personal style. When it comes to protecting that investment, you also have choices. I can show you the different options available to protect you and your family.
Ashleigh Pidgeon
Sun Life Financial Advisor
604-809-7832
www.sunlife.ca/ashleigh.pidgeon
ashleigh.pidgeon@sunlife.com
