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Forester Life Limited Mortgage Insurance Quotes

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Forester Life Limited Mortgage Insurance Quotes

Mortgage loans are a quick and easy way to get money fast, however there are some drawbacks to this plan which, believe it or not, stem from the very definition of “mortgage”.

The word mortgage originated in French Law, meaning “death pledge”, and in economic terms, this means that the pledge end, or dies, when either the debt is paid in full with interest, or the property on the line is foreclosed.

Indeed it is quite a risky thing, and to think that a loan like this managed to ruin a lot of lives over the years, however this does not deter people for taking out mortgage loans, even though they are unable to foresee some of the nasty things that may occur over the next few years.

There were cases when the person that took out the mortgage was unable to pay it off. Either the person got fired, suffered an injury which made him unable to work, or even died, the bank or creditor would seize the property that the mortgage had been taken on.

Mortgage insurance and the role that Foresters had to play

Indeed mortgages are some of the most risky and dangerous loans that you could ever take out, however there were some insurance companies that saw an opportunity in this, and among them was Foresters.

By giving you the option to take out an insurance policy with them, you can also opt for something called “Mortgage Protection”. This is basically adding your mortgage to your private insurance, and if something does go wrong, then the insurance company will pay the full cost of the mortgage, taking it off of your shoulders.

The part that Foresters played in this was very important, mostly because this was happening in 1875, and back then things were very different indeed. For starters, Foresters was among the first companies to view women as full members of the family, and this was big, considering that women back then were not deemed important, not even from a legal point of view.

From Canada to Europe

Foresters was founded in 1875 in Canada, however it quickly spread to the United States, becoming one of the leading insurance authorities in North America. After a few years, the company manages to branch out into Europe, and the first country that they won over was the UK.

Today, Foresters is still spreading that fraternal message about the mutual insurance company, and at the same time giving you, the policy holder, a fair amount of options, products and packages to choose from.

Foresters today

Today, Foresters is the leading authority in Mortgage Insurance, gathering a metric ton of stories and testimonials from each and every case that they have handled successfully.

After seeing the state in which a mortgage can leave a family when it is incapable of paying it off, they came up with new ways and new insurance policies to help prevent it, and today, that example is being followed not just by Foresters, but by a lot of other companies.

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