Protect Yourself When Buying A Home

Buying a home? Don’t forget to protect your purchase – and your family!

Whether it is your first or fifth, a home purchase is a very exciting time with a lot of details to take care of.

When you are doing your budget be sure to include room for insurance premiums to protect your purchase as by having the right insurance in place your home will remain with your family no matter what happens.

(If you haven’t already read my report titled “The 13 Dirty Little Secrets Your Bank Doesn’t Want YOU to Know About YOUR Mortgage Insurance” its FREE and you can get it here immediately just “Right Click Here” and save as to your computer…)

Life Insurance – if you already have a life insurance policy, now is a good time to do a review to be sure you have enough.

If you don’t have life insurance, now is the time to look at adding a policy so your biggest asset is protected should tragedy strike.

Life insurance is the most economical way to pay off a mortgage in the event of a death.

According to Statistics Canada over 40% of mortgage foreclosures are due to an illness or injury

Critical Illness Insurance – CI insurance pays you a tax-free lump sum of cash 30 days after you are diagnosed with a defined critical illness*.

CI was invented by Dr. Marius Barnard in 1983, he could see people were now surviving critical illnesses, but the financial toll was devastating to the family. It is becoming a popular product in the mortgage insurance area as so many foreclosures in Canada are due to major illnesses.

*A critical illness as defined in the specific policy contract

1 in 2.5 of women and 1 in 2.2 of men will develop cancer in their life **

**Canadian Cancer Statistics 2009-Canadian Cancer Society

Disability Insurance – Your greatest financial asset is your ability to generate an income, but often you don’t protect it.

A disability plan will only cost you a small fraction of your income, consider your earnings potential to age 65 and it is more than worth it.

If you have a group plan that includes disability be sure you review it as there may a cap on the monthly benefit provided and you may only be insured for a small portion of your salary.

(Read my article titled: “Can You Live on 97 percent of your income?” Just “Left Click Here” to begin reading now.)

Remember, the best time to buy insurance is now, as premiums increase with age and you never know when you may become uninsurable.

As an Independent Life and Health Insurance Advisor I work for my clients, not my suppliers. I am here to help you pick a suitable plan by providing you with personalized quotes at no charge and with no obligation.

You insure your car and your home, but without your income you could lose both. Let’s talk about YOUR 3% solution.

Contact me, Mark Huber, CFP at 604-207-9970 or e-mail us at: askmark@HowToUseInsuranceToCreateWealth.com