Does Bank Mortgage Insurance
Really Protect YOU?

When you meet with your bank or mortgage company rep, you'll be offered the opportunity to insure your mortgage through their insurance carrier (usually a sister or subsidiary company of the financial institution). In this situation, politely decline and then immediately contact a reputable insurance broker and apply for Term Life Insurance to cover your mortgage debt.

What's you need to understand ...

Policies that financial institutions offer are not designed to protect you. These policies designed to protect the financial institution, not you. When the bank sells you a policy, you answer a few cursory health-related questions. Your application is reviewed and, if accepted, you begin paying regular premiums from that moment on. And the financial institution (and/or it`s sister or subsidiary) is making money on your policy.

What most people don't understand out ...

Typically, the policy you take out through your financial institution hasn't been underwritten. In fact, it usually isn't until you file your claim. In this scenario, if you made even the slightest mistake when answering the health-related questions in the application, there is a strong possibility that your claim will be denied when you need it most. This can be devastating news. Particularly when you've been going merrily along, paying your premiums and believing your mortgage is covered in the event of unforeseen death of you or your spouse. Even if your claim is not denied, the full benefit goes directly to the bank to cover it's losses ... with nothing paid out to you or your beneficiary directly to help with funeral or living expenses.

Why Risk Unecessary Stress at the Worst Possible Time?

Why Term Life Insurance Offers Better Protection ...

When you purchase a Term Life Insurance policy through a qualified insurance broker, the policy is underwritten at the time the application is made. Once your application is accepted, there are several distinct advantages:

you own the policy;
only you can cancel the policy;
you designate the beneficiary who will receive the benefit;
your premiums can be guaranteed up to 20 years; and
if a claim becomes necessary, your beneficiary can use the money to pay off the mortgage, to manage living expenses, to pay for children`s education costs; whatever is most necessary and appropriate in their situation.

What if your mortgage is insured through your financial institution?

It's not too late to discover how little you could be paying for better protection for you and your loved ones. This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Coming Soon:

"No-Regrets" Business Insurance

for Business Owners & Self-Employed Individuals!

Critical Illness Coverage ... for Children!?

Critical Illness Insurance pays out a benefit if the insured individual is diagnosed with cancer, heart attack, stroke, etc. This coverage exists to help with the financial impact an illness can have on a family. And, yes, it is available for children, too.

The email below, sent to me by a friend and client, illustrates the importance of having critical illness coverage, even on your children.

Can YOU Retire on CPP?

On a daily basis, clients share with me their concerns about preparing for and protecting their retirement lifestyle. They are keenly aware that relying on Canada Pension Plan benefits just won't cut it. Even the government knows it, according to The Star's June 2010 article, and both federal and provincial finance ministers are calling for changes to the country's existing retirement income system.

Long Term Care Insurance
... Income for Personal/Medical Care

Long Term Care payments are available to cover the daily costs associated with medical or personal care either in a home or in a facility. It is similar to a disability income plan, whereby, due to an age related ailment or an accident, the plan provides financial help. This plan is not dependant upon you earning an income.

Does Bank Mortgage InsuranceReally Protect YOU?