Mortgage protection insurance can
save your investment property in Australia, and much more!
iF YOUR MORTGAGE IS MORE THAN AUD$100,000, YOU NEED TO LOOK INTO THIS.
Taking out a investment mortgage can be a scary prospect. Now imagine if the worse happens, and one of
the household's breadwinners dies. How will you make the payments?
Mortgage
protection insurancen covers this
potential financial disaster. You can purchase a policy when you first
buy your home if you live in Australia.
BUT WHAT IF YOU ARE A OVERSEAS INVESTOR?
The idea behind mortgage protection insurance is straightforward: You
pay a premium, which remains the same for the duration of the policy.
If you die during that time, the insurance pays out your death benefit.
"Mortgage protection insurance is a life insurance program that gives
you special benefits because you have a mortgage," says Andy Albright,
president and CEO of National Agents Alliance, the largest mortgage
insurance broker in the USA.
The beneficiary can use the money for anything — to pay off the
mortgage in one lump sum, make car payments or put the money in the
bank.
If you pay off your mortgage early, you CAN STILL keep the coverage until the
term of your policy expires. Some insurers will allow you to turn that
mortgage insurance into a life insurance policy, Albright says.
Affordable, and Simple Alternatives to mortgage protection insurance for Owners of Australian Property who live overseas, that can save your property, pay off all your loans, and much more.*
"Term life" is a simple, cheap and sound alternative to "mortgage or life insurance". And here at Citylife, whilst we are NOT huge fans of Insurance for many people, especially if it is linked to an "investment" policy, this is definately one insurance we highly recommend, especially if you can get a cheap, affordable, high paying policy that does NOT require massive amounts of medical tests first.
Here is a quick summary:
A 35 year old (non smoker) taking a 10 year policy for USD$1 million to protect all their mortgages would pay a Annual premium of only USD$955!
Other benefits include the fact that the Premium is locked in and fixed at this rate. It will not increase.
And you do NOT need a full medical. Just a simple blood and urine test.
The downside? This type of policy, (whilst available to residents located anywhere in the world) will only accept a Medical Test done in Hong Kong.
Oh well, you can have a holiday at the same time.
The advantage to purchasing this type of protection insurance is that it
is much cheaper than life insurance
and you are not be required to undergo a full medical exam.
To get more info without any obligation at all, fill out the form below, and this form will be sent straight to our recommended insurance broker who will discuss this with you.
“He ( the broker) did the right thing for me, I am
very happy. It has taken a weightof my
mind in case of the worst happening, not loading down my family with huge debt,
and I had a very simple medical, cheap premiums and a huge payout If the worst
case happens to cover all mymortgages”
MICHAEL BENTLEY, MANAGING
DIRECTOR, THE CITYLIFE GROUP
*Disclosure: The Directors of Citylife personally have taken out exactly this insurance becuase it so affordable, easy to get, and provides a high level of cover, but it may not be available or suitable for all persons.
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Mortgage
protection insurancen covers this
potential financial disaster. You can purchase a policy when you first
buy your home if you live in Australia.