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DreamKeeper Program Update – Introducing AHAA Homeowner Protection Plus

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:

  • New applications for DreamKeeper will not be accepted after October 1, 2009.
  • All DreamKeeper policy holders may be subject to a price increase at time of renewal, or may even be denied renewal by LOTS.
  • All DreamKeeper applications that have been submitted online and for which we have received payment prior to October 7, 2009, will be processed and the policies will be fulfilled by LOTS.
  • Any questions regarding renewals should be directed to LOTS by calling 1-800-888-2738

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:

  • Mortgage Payment Protection (Lifetime option available)
  • Personal Savings Plan
  • Homebuyer and Homeowner Education
  • Loss mitigation and counseling services
  • Responsible Homeowner Rebate
  • Lifetime AHAA Premium Membership

To learn more about The Homeowner Protection Plus Program, contact your local account manager or contact us.