Live Insurance News

Do I Need Mortgage Protection Insurance?

April 17, 2018 Live Insurance News

If you have taken out a mortgage recently, you will probably have been pitched mortgage protection insurance. There are a number of different forms that this can take, but generally it will cover your home loan payments in the event that you become disabled or unemployed. Should you die, some mortgage protection plans will pay off your mortgage posthumously. But is mortgage protection insurance something that you need? Or is it just going to be another fee to pay to your bank? The answer to that question is not straightforward,…

Finding the Most Suitable House to Buy for Your Family

March 18, 2018 G. Turner

Buying a house for your family is indeed a dream come true. Reaching this stage in your life will surely make you feel happy and proud. To know that all your hard work has paid off and that you are able to provide for your family is just surreal. Thus, you need to ensure that everything is carefully planned. In this article, we will share some guidelines to ensure that everything will go smoothly in buying your very first home. Know your budget and limitations It is very important to…

Sketchy force-placed insurance cause HSBC to have to pay homeowners back

February 23, 2016February 20, 2016 G. Turner

Property owners in Massachusetts who were sold this coverage through dubious practices will receive $2.7 million. HSBC, a national mortgage lender and servicer, has now agreed to pay a total of $4 million as a result of its force-placed insurance practices, according to Massachusetts Attorney General Maura Healey. This payment was the outcome of a settlement in a case in which HSBC was accused of inappropriate practices. These practices related directly to its sale and management of force-placed insurance. It involved allegations that HSBC had been receiving various forms of…

New mortgage insurance unit spin-off is added to AIG’s current goals

January 26, 2016January 24, 2016 H. Cutner

AIG Insurance company CEO - Building in Manhattan

American International Group has made the decision to look into a spin-off of that branch of its business. American International Group (AIG) is now in the midst of the pursuit of a spin-off of its existing mortgage insurance business, according to several reports based on sources who are familiar with the matter. This new strategy from the insurance company could come at precisely the time that goes up against Carl Icahn. Despite the attempts that the company is seeking to make to spin-off its mortgage insurance business – which made…

Luxury home mortgage insurance is being offered by fewer players

June 11, 2014June 9, 2014 G. Turner

The CMHC has announced that it will no longer be offering coverage for these high end properties. Among the recent cuts that the Canada Mortgage and Housing Corp has been making, and that have been toping insurance news headlines in the country, is one of the latest that includes the elimination of luxury home mortgage insurance products. The properties that will no longer be covered will be those that cost $1 million or more. The CMHC has stated that as of July 31, it will no longer be providing luxury…