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Q. Am I able to get insurance (mortgage) at my age?
A. Group Mortgage Protection Insurance coverage can be applied for via Synergy Credit Union through the CUMIS Life Insurance Company by individuals from ages 16 to 64 (coverage terminates on the member’s 80th birthday). This insurance provides coverage on the outstanding balance of the loan at the time of the insured member’s death.
Our partner, Credential Financial Strategies Inc (CFS), also provides personal insurance that can match the amount of a mortgage. The difference is that the policy will stay with the same face value that was originally purchased, for example, $100,000. This insurance can be applied for until age 85, but coverage will be for life, no matter the age.
We’re here to help so talk with a representative to see what options are available for your specific needs.
Credential Financial Strategies Inc. is a member company under Credential Financial Inc., offering financial planning, life insurance and investments to members of credit unions and their communities. ® Credential is a registered trademark owned by Credential Financial Inc. and is used under licence.
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