Mortgage Protection Programs offer a number of benefits, not only to the customer, but to the financial institution as well.
For a customer, it can be a scary moment when applying for a mortgage. It’s one of the biggest investments we will make in our life time, and if there ever becomes a time that we cannot pay back that loan, it becomes even scarier. First Service Corporation offers unique Mortgage Protection Programs to relieve some of the stress, and give customers some peace of mind when making that “big investment”.
First Service Corporation offers Mortgage Protection Programs that fit the needs of your customers, and help secure their loan. The following are the Mortgage Protection Programs offered by First Service Corporation:
This plan has tobacco and non-tobacco user premium rates and pays the scheduled outstanding balance at time of death subject to the plan maximum when the loan balance is 100% insured.
The plan is a unique low cost alternative to full mortgage life, because the rates are the same for all ages. Borrowers can choose any amount of monthly benefits up to the total monthly mortgage payment. How the plan works:
· Natural Death: Pays 24 monthly benefit payments in the amount the borrower(s) initially chose.
· Accidental Death: Pays loan balance up to $100,000 … PLUS … the 24 monthly benefits to the survivors
*Not available in all states.
This product provides coverage in the event of a covered accidental death. Accidental Death is available to any mortgagor regardless of health, which means a guaranteed Issue! There are also no physical exams or health questions to qualify. This plan is a low cost alternative for applicants whose health disqualifies them for mortgage life.
This is an important coverage for all employed mortgagors. It provides monthly benefits subject to plan maximum but no more than the total monthly mortgage payment at time of application. Available for both single borrower and co-borrower.
For more information on offering Mortgage Protection Programs, please click the button below