Protect more than your family’s mortgage. Protect their future.
Your lending institution offers mortgage insurance. But why settle for an insurance product that does just one thing? When it comes to protecting your mortgage, there’s another option to consider.
Term insurance from ivari is an innovative solution that helps protect your family’s future as well as your home. Not only does it offer more protection, more flexibility and more value than traditional mortgage insurance, but it’s also often a better price.
Do I own my policy?
With most lenders’ mortgage insurance…
No. Your lending institution holds the contract with the insurance carrier.
With Term 10, Term 20 and Term 30 from ivari…
Yes
Is my coverage flexible if my needs change?
With most lenders’ mortgage insurance…
No. You cannot choose or alter your coverage amount or convert your policy to permanent protection. Should you move, refinance or renegotiate your mortgage, you cannot transfer your policy and will have to requalify.
With Term 10, Term 20 and Term 30 from ivari…
Yes. You can choose the coverage amount that you need and can increase or decrease it or convert to permanent protection if your needs change.* And whether you move, refinance or renegotiate your mortgage, your coverage stays in place.
In addition to the benefits of Term 10 and Term 20, Term 30 also offers built-in SelectOPTIONS such as SelectVALUE, which allows you to either withdraw the value of the policy, or transfer the policy value tax-free into a permanent protection plan.*
Can I choose the beneficiary of my policy?
With most lenders’ mortgage insurance…
No. Your mortgage provider is the beneficiary.
With Term 10, Term 20 and Term 30 from ivari…
Yes
Can my family use the proceeds of the policy to cover needs other than the mortgage?
With most lenders’ mortgage insurance…
No
With Term 10, Term 20 and Term 30 from ivari…
Yes. Your family can choose to use the tax-free death benefit for any purpose such as mortgage and debt payments and daily living expenses.
Once I pay off my mortgage, will I still have life insurance?
With most lenders’ mortgage insurance…
No
With Term 10, Term 20 and Term 30 from ivari…
Yes. Term 10 and Term 20 provides automatic renewal to age 80 with the ability to convert to a permanent plan.* Term 30 provides automatic renewal to age 100 with coverage for life.
Does the death benefit remain the same for the life of the policy?
With most lenders’ mortgage insurance…
No. Mortgage insurance only covers the outstanding balance of the mortgage. The benefits decrease as you pay off your mortgage, though the cost stays the same.
With Term 10, Term 20 and Term 30 from ivari…
Yes.
Is my coverage guaranteed?
With most lenders’ mortgage insurance…
No. Your bank can change your policy and rates at any time.
With Term 10, Term 20 and Term 30 from ivari…
Yes. Your initial term and renewal rates are guaranteed for the duration of the plan.
Can I tailor my plan to meet my needs and situation?
With most lenders’ mortgage insurance…
No
With Term 10, Term 20 and Term 30 from ivari…
Yes. All of ivari’s Term products offer additional benefits and riders. In addition to the benefits of Term 10 and Term 20, Term 30 provides the flexibility of built-in SelectOPTIONS.
Are there any price advantages if I am a healthy non-smoker?
With most lenders’ mortgage insurance…
No
With Term 10, Term 20 and Term 30 from ivari…
Yes. Our Preferred Underwriting program rewards clients for their healthy lifestyles with premium discounts.
There are many more features that come with an ivari term insurance policy. To learn more about these features, including the innovative built-in SelectOPTIONS on Term 30 policies, refer to our term insurance client brochure.
Purchasing life insurance is an important decision. Choosing the right life insurance is essential for protecting your family. Talk to your advisor about how term insurance from ivari can help protect your family’s future.
* A term policy from ivari is convertible to an eligible permanent plan any time prior to the policy anniversary closest to the life insured’s 71st birthday.
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