It seems that no one has been insulated from the impact the last 18 months has had on our economy, including the providers of Involuntary Unemployment Insurance (IUI). With job loss rates expected to hit 10% by year end and unemployment at a 26-year high, underwriters of such insurance programs have definitely felt the pain.
We are sad to announce that AHAA recently received a notice of termination from Life of the South (underwriter of the DreamKeeper program). It seems that LOTS has lost their reinsurance partner and therefore has no way to continue underwriting the DreamKeeper program after October 7th, 2009.
Effective immediately, please be advised of the changes and the possible outcomes affecting the availability of DreamKeeper:
Since receiving this news, AHAA has been busy searching for another partner; this search has led us to realize that many of the other IUI providers/underwriters in the industry are experiencing similar problems. Many no longer offer such programs or have had to dramatically increase the cost of new policies, as well as the renewal premiums on existing policies.
This has been very disappointing as AHAA realizes the value and continued need for Mortgage Payment Protection; with that in mind, AHAA developed a new way of providing buyers Mortgage Payment Protection, some may argue a better way – The AHAA Homeowner Protection Plus Program.
Homeowner Protection Plus Benefits Include:
To learn more about The Homeowner Protection Plus Program, contact your local account manager or contact us.