A
aesop081
Guest
Occam said:Kits?
Military kit i assume.
Occam said:Kits?
CDN Aviator said:Military kit i assume.
ballz said:I have tenant's insurance with the Personal, and I have $5000 insurance on my kit included with that. It says on the site, "because it's the DND's kit, and your responsible for it." Maybe I'm getting ripped off but it was a good sales pitch, they earned the extra couple bucks a year ;D
A guy on my CAP course had a bunch of stuff stolen during travels, including his kevlar helmet. After some paperwork with the MPs and stuff, I'm pretty sure he ended up footing the bill, or most of the bill, for it. Maybe it's not supposed to be like that, but that was the result. So I'm happy with having the insurance.
On another note, I'm saving an @$$load on auto insurance with the Personal. Almost 2K a year I believe.
Nix said:Has anyone here used the portability clause with ING? Specifically blend and extend, the clause says they will give you their best rate. I am unclear if this simply means their posted rate or the actual rate others are being offered. I like that they don't use the IRD for breaking a mortgage, and I can get p-.9 via a broker, which puts us at 2.1% for a closed variable 5 yr, and their posted rates are always decent but always you can get a lower rate than the posted one. Just curious if anyone here can give an actual experience with ING so I can get a better idea what will happen when we port over in ~3 years with them.
toughenough said:I'm currently with ING, and trying to figure out my next move.
I'm in the process of settling things from a divorce. ING will do a "release of covenant" and take her name off the mortgage and keep it "as is", but won't approve me on my own for the mortgage due to some credit card debt. If I roll that debt into the mortgage, I'll get approved for it, but will have to pay the penalty for breaking the mortgage.
$6200 to break it outright, $4500 to break it and sign another mortgage with them. Either way, my rate will drop like crazy because I'm on a 4.91 fixed, and looking to be at about 2.3% variable after re-mortgaging. I just don't understand the logic in charging my a fee to resign a (bigger) mortgage with them, where I'll be on the hook for even more interest, over a longer period of time.
Regardless, this thread is very timely.
Cheers
Anny said:I thought ING only had the 3 months interest penalty and no IRD? Judging by the amount of penalty, it sounds like they are more than charging you three months interest.
The IRD may be dismissed if it's a DND move due to a posting... you're the one with the paperwork so toughenough, I assume you know for certain, I'm just bringing it up because I could have sworn there were no IRD penalities with ING.
By the way, if you work via a broker you'll get P-.9, which means with prime at 3.0 right now, you should be able to get 2.1% variable with ING (5 yr term). In your case it's well worth breaking that fixed rate you have right now.
Anny said:I thought ING only had the 3 months interest penalty and no IRD? Judging by the amount of penalty, it sounds like they are more than charging you three months interest.
The IRD may be dismissed if it's a DND move due to a posting... you're the one with the paperwork so toughenough, I assume you know for certain, I'm just bringing it up because I could have sworn there were no IRD penalities with ING.
By the way, if you work via a broker you'll get P-.9, which means with prime at 3.0 right now, you should be able to get 2.1% variable with ING (5 yr term). In your case it's well worth breaking that fixed rate you have right now.
This is kind of an eye opener to me. When I signed my mortgage [& mortgage insurance] I don't think I thought I'd be joining the CF.Occam said:He didn't say he had mortgage insurance. Actually, he correctly stated that for the most part, mortgage insurance offered by the banks is mostly useless to CF members because of the plethora of exclusions they have.
What he said was that SISIP is a cheaper alternative to mortgage insurance, and has none of the exclusions which would affect CF members.
kawa11 said:This is kind of an eye opener to me. When I signed my mortgage [& mortgage insurance] I don't think I thought I'd be joining the CF.
Someone tell me there's gonna be a clerk somewhere with all the answers or some kind of list of "CF Friendly" insurers..
I'm young, have a family and tired of living in cramped spaces - "too much house" is a far off dream not a burden!Occam said:I'm reasonably sure that your mortgage insurance is not "locked-in"; that is, you can cancel it at any time if you choose. If you join the CF, investigate cancelling the mortgage insurance. SISIP would be much cheaper, and not have any pesky clauses that will prevent the insurer from paying out if you pass on as a result of military service.
Between SISIP Group Term insurance (maximum $400,000 coverage for you, and the same for your spouse), SISIP Supplementary Death Benefit (2 x your yearly base salary), and any Veterans Affairs survivor benefit your spouse would get, if your mortgage isn't paid off upon your untimely demise, with a fair amount to spare, you have too much house.
kawa11 said:I'm young, have a family and tired of living in cramped spaces - "too much house" is a far off dream not a burden!
Thanks for your input. I'll be sure to look into SISIP.