Mortgage Protection Insurance (Through Life Insurance)
Protect Your Home and Family with AMC Mortgage Protection Insurance
AMC Mortgage Protection Insurance (through life insurance) provides a safety net by covering your mortgage payments if an unexpected event occurs.
Unlike options from banks or credit unions, AMC Mortgage Protection Insurance offers several unique advantages. For one, AMC gives you flexibility and personalized coverage, allowing you to tailor the plan to your needs. Moreover, your family can decide whether to pay off the mortgage or use the funds where they’re needed most. AMC gives you flexibility and personalized coverage, allowing you to tailor the plan to your needs. Moreover, it lets you designate beneficiaries, giving your family full control over how the benefits are used. it lets you designate beneficiaries, giving your family full control over how the benefits are used. On top of that, AMC policies are portable—so if you refinance or move to a new home, you can take your coverage with you.
With AMC, you can confidently safeguard what matters most—your home and your family’s future.
Why Choose AMC: Better Mortgage Protection and Peace of Mind
Explore the key differences below to discover how choosing AMC can better protect your mortgage, provide peace of mind, and deliver valuable benefits tailored to your needs.
AMC Mortgage Protection Insurance
Banks Mortgage Protection
- Provides essential protection for your family’s future.
- Gives you complete control over your coverage.
- Fully portable—can be transferred to any home.
- Flexible options: your family can choose to pay off the mortgage or invest the funds in the event of death.
- Enables you to shop for better interest rates when renewing your mortgage.
- Offers multiple plan options and additional benefits to suit your needs.
- Lets you choose your coverage amount, with no decrease in the face value as your mortgage balance reduces.
- Coverage can be renewed or converted as your needs evolve.
- Reliable coverage with a grace period for missed premium payments.
- Thoroughly underwritten at the time of application for personalized approval.
- Access to expert guidance from professional insurance advisors, with the convenience of managing all your insurance needs through one broker.
- Primarily benefits the bank, ensuring their loan is protected.
- Fully controlled by the lending institution, leaving you with little say.
- Coverage ends automatically if the property is sold or refinanced.
- Offers no flexibility—you must repay the mortgage regardless of changing interest rates or better financial opportunities.
- Limited shopping options unless you’re insurable and willing to pay higher premiums.
- Provides few alternatives, restricting your ability to customize coverage.
- Coverage matches the remaining mortgage balance, decreasing over time, but premiums stay the same.
- Cannot be converted into a different type of insurance.
- Missing a mortgage payment often means losing your insurance coverage.
- Claims are assessed only after a claim is made, causing potential uncertainty.
- Insurance matters are handled by the bank, with coverage spread across multiple areas, leading to a lack of specialized service.
Customize Your Mortgage Protection with AMC Life Insurance
Explore additional coverage options with AMC Life Insurance to customize and strengthen your Mortgage Protection Insurance policy for greater peace of mind.
Critical Illness
A critical illness insurance policy provides financial protection against life-threatening conditions such as cancer, heart attacks, kidney failure, and more.
Disability
Disability insurance provides financial support by replacing income if the policyholder is unable to work and earn due to a disability.
Universal Plan
Universal life insurance provides permanent coverage to protect you for your entire lifetime, as long as you pay your premiums and meet the policy requirements.
Whole Policy
Protect your family and secure your future with whole life insurance. Get lifelong coverage while building cash value over time. Stay covered and enjoy peace of mind for the long term.
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Find the Perfect Coverage With Our Expert Insurance Brokers
Buying life insurance can feel overwhelming, and it’s completely normal to need time to find the right policy. It’s important to carefully assess how much coverage you need and choose a plan that fits your family’s needs.
Life insurance policies in BC offer a variety of options, each designed for different situations. That’s why working with experts who truly understand British Columbia’s life insurance landscape is essential. At AMC Insurance, our experienced brokers are here to guide you in finding the perfect policy tailored to your specific requirements.
Select AMC Insurance Broker for trusted and reliable coverage solutions.
Choosing whether to buy life insurance can be a tough decision, and you’re not alone in feeling unsure. That’s why we’re committed to being the insurance provider you can rely on to find the coverage that fits your needs. When you work with us, you’ll benefit from:
Experience
Our agents have extensive experience working with individuals and families across all industries to provide the right coverage for your protection.
Commitment
We’re committed to finding you the most affordable rates and work hard to ensure you get the coverage you need at a price you can afford.
Value
At AMC, we understand how much your assets mean to you and how hard you’ve worked to build a life for your family. Our policies protect you financially and give you the peace of mind you deserve.
FAQ
What is AMC Mortgage Protection Insurance?
AMC Mortgage Protection Insurance is a life insurance policy designed to protect your home’s mortgage. It ensures that your mortgage payments are covered in case of death, giving your family financial security and the flexibility to manage funds according to their needs.
Is AMC Mortgage Protection Insurance tied to my mortgage lender?
No, AMC Mortgage Protection Insurance is independent of your mortgage lender or bank. This independence allows greater flexibility, portability, and the ability to shop for better interest rates when renewing your mortgage.
What happens to my coverage if I sell my home or refinance my mortgage?
With AMC, your policy remains active and does not end if you sell or refinance your home. This portability ensures that your coverage stays with you, offering continuous protection.
Can I customize my AMC policy to fit my needs?
Absolutely! AMC offers multiple plan options and additional benefits, allowing you to customize the coverage amount and term to suit your specific requirements. Your family can also choose whether to pay off the mortgage or invest the funds in the event of a claim.
Does AMC coverage decrease as my mortgage balance reduces?
No, the face value of your AMC Mortgage Protection Insurance does not decrease as your mortgage balance reduces. This ensures that you maintain the same level of coverage, providing consistent protection for your family.
Why does AMC recommend using professional insurance advisors?
AMC Insurance provides access to expert insurance providers and advisors who can guide you through selecting a policy, tailoring it to your needs, and managing all your insurance needs conveniently through one trusted broker.
