News & Tips

Mortgage Default Insurance versus Mortgage Life Insurance

gloria — Tue, 30 Jun 2009 15:26:09 +0000

What’s the difference between mortgage life insurance, mortgage loan insurance or mortgage default insurance? These terms all seem quite similar and are sometimes used interchangeably to add further confusion to things. These various types of coverage are very different and offer unique benefits to Canadian homeowners. Mortgage loan insurance or mortgage default insurance is typically required by lenders when you are buying a home or looking for mortgage refinancing and have less than a 20% down payment based on the property’s value. Mortgage life insurance, on the other hand, is a life insurance policy that pays out a lump sum upon your death to cover the rest of your mortgage. You can view more details in our Canadian Mortgage Life Insurance article.

Mortgage loan insurance is supplied by the Canadian Mortgage and Housing Corporation (CMHC), which is a government organization and private insurers including Genworth Financial and AIG United Guaranty, and helps protects lenders against mortgage default. It’s estimated that about 50% of mortgages taken out in Canada need to be insured. It enables consumers to purchase homes with little or no down payment with interest rates comparable to those with a 20% down payment while providing additional protection to lenders for their added risk. As with all types of insurance, there are premium payments that need to paid for the coverage. The CMHC premiums vary from 0.50% - 2.90% and dependS on the loan-to-value (LTV) ratio of the down payment.

Tags: General, Business, Family, Financial, Homes, Insurance, Credit, Marketing

Canadian Reverse Mortgages - Financing Dream or Nightmare?

gloria — Mon, 29 Jun 2009 15:15:48 +0000

A ‘reverse mortgage’ is a new way of borrowing money for people over 62 years of age. Some people love them, while others say they’re a dangerous last resort. A Canadian reverse mortgage allows people who are house-rich and cash-poor – many of whom could be seniors on pensions, who have their home paid off and are over 62 – to receive a lump sum from a lender. For most of these seniors, their home is their largest asset, yet they can’t borrow against it because they cannot afford a monthly payment against the balance. A reverse mortgage works differently. Once you have the cash in your hand, you’re free to do what you please. Your principal remains and the interest tap is turned on at a rate of about 10%. As long as you’re alive and haven’t sold your house, you don’t make any payments on the money you borrow. But once you sell the house or die, the principal and accumulated interest must be paid back from the profits on the sale of the house.

Seniors have every right to enjoy their twilight years in their family home. Often, they’re still living in the house in which they raised their family, in a town or city neighbourhood they helped build through community-mindedness and volunteerism. Yet, if they can’t afford to pay their bills, despite being mortgage-free, then a reverse mortgage might be perfect for them. Perhaps their pension covers their expenses, but doesn’t leave room for the extras. The cash in hand from a reverse mortgage can give them the financial flexibility they require to fulfill their retirement dreams.

Visit: Rate Supermarket

Tags: Health, General, Business, Family, Homes, Insurance, Marketing

Personal Injury Lawyer in the Omaha Area

don69 — Mon, 29 Jun 2009 12:27:52 +0000

Johnson Welch P.C. has successfully handled many auto accident cases, such as:

Pedestrian or passengers suing to recover for injuries resulting from a car crash
Victims of semi collisions seeking damages for injuries
SUV rollover victims pursuing compensation for injuries

We also have experience in one of the most difficult areas of law: wrongful death. If you have lost a loved one due to the negligence of a doctor, driver, manufacturer, or other person or entity, contact us for empathetic and experienced legal help…….Omaha Injury Lawyer

Tags: Insurance

What To Consider When You Are Choosing Pet Insurance

amenbiz — Sat, 09 May 2009 06:08:07 +0000

Getting pet insurance will come in useful when you need it for both your pet and your finances. Imagine for a moment if your beloved pet develops a sudden extremely painful problem. You are going to be faced with an immediate and huge bill. Even worse, if you are unable to afford this huge bill, you may well end up with your pet suffering unnecessary pain for long periods of time. In the worst cases, pets are even being put down for illnesses which could have been treated had the owner been able to afford the payments on the insurance.

Tags: Insurance, Pets, Reference, Shopping

How A Car Extended Warranty Can Give You Peace Of Mind, And What To Look For

amenbiz — Sat, 09 May 2009 05:55:19 +0000

Getting a car extended warranty can keep you from stress and loads of tiring worry when you experience the stalling of your automobile. Although all new vehicles are sold with a warranty of some kind, you should consider an extension unless you are certain you will be selling your vehicle quickly and moving on. An extended automobile warranty gives you more than just the peace of mind of knowing that you are covered for repair bills. Depending on your lifestyle and circumstances, you may well need your vehicle as part of your work. A vehicle extended warranty can provide you with a hire car during the time that your own vehicle is being repaired.

Tags: Wisdom, General, Insurance, Shopping

Learn the Types of Life Insurances and How Much Life Insurance Cost

amenbiz — Thu, 16 Apr 2009 15:50:16 +0000

Typically, there are four types of life insurance from which you can choose from. Before seriously considering a policy it is important to understand the four different types and what they entail. The first is called term life insurance. Term life insurance is very straightforward. When you choose this type of coverage you pay for a specific duration of time. During that period, your chosen beneficiary receives the benefits of your policy upon the event of your death. You should know that there are subcategories that fall under the category of term life insurance.

Tags: General, Insurance

The Basics of Travel Insurance

amenbiz — Wed, 08 Apr 2009 15:47:50 +0000

In today’s global society, international travel is becoming more common. If you will be traveling for business or pleasure, you should definitely consider purchasing some kind of travel insurance. This type of insurance protects you during your travels and can save you a substantial amount of money in the event of unforseen circumstances. Let’s take a look at some of the different types of insurance coverage for travelers and why you should consider purchasing protection for yourself.

Tags: General, Insurance, Travel

Medical Insurance Is Used More By Unhealthy People

amenbiz — Wed, 08 Apr 2009 15:42:55 +0000

Some truths about medical insurance is that it does not prevent illness or disease, but rather it does help to reimburse you for the costs incurred by these health problems. In return for your fixed monthly payments, the medical insurance company agrees to pay your future medical bills. The amount paid toward each bill by the medical insurance company varies by several factors. The primary factors that influence how much your medical insurance pays towards your medical bills include the premiums, the type of policy, and the deductible.

Tags: Health, General, Financial, Insurance, Medicine

L’arbitrage assurance-vie

mozmarketing — Sat, 04 Apr 2009 02:26:30 +0000

Dans les contrats ou les tableaux comparatifs, la notion d’arbitrage assurance-vie apparaît fréquemment. Mais à quoi sert un arbitrage assurance-vie, et faut-il prêter une attention particulières aux frais qui y sont liés ?

Un arbitrage assurance-vie permet de modifier la nature des investissements, ou plus précisément, de les répartir différemment.

Un arbitrage assurance-vie peut ainsi être nécessaire lorsque l’assuré change de projet, et décide par exemple de passer d’une politique d’investissement offensive à des placements plus sécurisés.

L’arbitrage assurance-vie est parfois judicieux selon le contexte économique : récemment, les actionnaires liés directement ou indirectement au désastre hypothécaire américain ont pu limiter les dégâts grâce à l’arbitrage.

Tags: Insurance, Francais

les placements assurances vies

mozmarketing — Sat, 04 Apr 2009 02:23:00 +0000

Les placements assurance-vie sont généralement plus rentables qu’une épargne sous forme de livret A, et ils bénéficient par ailleurs de spécificités fiscales qui en font des outils de transmission de patrimoine très intéressants. Mais comment choisir un placement assurance-vie ?
Un placement assurance-vie peut prendre plusieurs formes. On déconseille généralement les investissements exclusifs. Un capital entièrement placé dans des fonds en euros ne risquera pas d’être perdu, mais son rendement sera très faible.

A l’inverse, il semble particulièrement risqué d’engager l’intégralité du capital dans des actions en bourse puisque, si les bénéfices peuvent s’avérer très élevés, les pertes ne connaissent pas non plus de limites. Les placements assurance-vie sont donc le plus souvent mixtes : 80% du capital en fonds en euros et 20 en actions pour une sécurité maximale, ou un rapport de 40 et 60% pour un programme plus offensif.

Tags: Insurance, Francais