November 2007 Archives
Parts of the US are beginning to experience higher unemployment - Southern Florida, parts of California, for example. Amongst all the other problems unemployed workers face is how they will continue to be covered by health insurance. Most employees know about COBRA: the ability to continue on their employer's health insurance program after their employment has been terminated. But not all of them understand that they must pay 100% of the monthly premium. Most employers who offer group health insurance are mandated to pay at least 50% of the cost of coverage, and when terminated employees find out they have to pay at least double the amount that use to be deducted (Pre-Tax) from their paycheck, well...the word 'Shocked' does not adequately describe the emotion.Job Loss Insurance could help. It's inexpensive. A $30 monthly premium buys a 6 month benefit of $1000 per month. That's about $1 a day for coverage that would pay you $1000 per month for up to 6 months if you were unemployed. Not enough money to pay all your expenses, but coupled with your state's unemployment program, some temporary frugal living until you've found another job, $1000 per month would certainly help pay those COBRA health insurance premiums.
John Hartline
800-562-8019
Email: johnhartline@statesville.net
US Banks & Financial Institutions continue to take write-downs and report lower earnings due to the "Mortgage Mess". Predictions of more write-downs in this area follow predictions of more mortgage foreclosures.
Here's the question: If the mortgage servicers and the banks know that more problems are on the horizon, why aren't they more proactive in trying to help mitigate future losses by simple risk management?
Mortgage companies know that loss of income is the largest cause of loan delinquencies and foreclosures. Loss of income is generally caused by job loss and disability. Their customers (borrowers) who are already facing increased mortgage payments when their adjustable rate mortgages increase would really be financially disabled if they were suddenly unemployed.
Here's a possible solution: Job Loss Insurance / Disbility Mortgage Insurance - The Mortgage Safety Plan.
We're beginning to see interest from several smart mortgage servicing companies. They have wisely decided that they can offer this plan to their customers who really want this unique coverage. The bank is helping themselves and their customers. They both get another layer of protection.
John Hartline
800-562-8019
Here's the question: If the mortgage servicers and the banks know that more problems are on the horizon, why aren't they more proactive in trying to help mitigate future losses by simple risk management?
Mortgage companies know that loss of income is the largest cause of loan delinquencies and foreclosures. Loss of income is generally caused by job loss and disability. Their customers (borrowers) who are already facing increased mortgage payments when their adjustable rate mortgages increase would really be financially disabled if they were suddenly unemployed.
Here's a possible solution: Job Loss Insurance / Disbility Mortgage Insurance - The Mortgage Safety Plan.
We're beginning to see interest from several smart mortgage servicing companies. They have wisely decided that they can offer this plan to their customers who really want this unique coverage. The bank is helping themselves and their customers. They both get another layer of protection.
John Hartline
800-562-8019
