Insurance is a great way to foster peace-of-mind, but not all insurance products are equal.
Creditor insurance often requires little information up-front. While this may seem like an advantage at first, it increases the chances of a lender declining a claim. Moreover, as the debt decreases, so does the coverage, and the monthly premium rates are subject to fluctuations. Changes, especially in health, lenders, or property, often lead to the termination of coverage.
The real risk is that when you go to renew your coverage, your health may have declined. By that time, it is unlikely you will be able to obtain that coverage again, either through creditor or personal methods, thus leaving an uninsured risk to your loved ones if you become deceased or unable to work.
The wonderful thing about personally-owned insurance is its flexibility. Personally-owned insurance is not as susceptible to changes, and good health has its rewards. The information it requires at the beginning could save one from surprises during future claims.
We want to work with you and within your budget. As brokers, we can reach out to a wide array of coverage providers to suit your unique situation. Please feel free to give us a call. We can assist you quickly and easily with the online systems available.
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