Why Choose Us

Do you want keep YOUR FAMILY living in YOUR house if you or spouse were to pass away?

Would your family be able to keep making the mortgage payments if you were to become critically ill or pass away? Or, would they have to sell the home?

Protect your family and their home with your own, low cost life Insurance policy that puts your family first.

“...but I already have this protection from my bank, right?”

Maybe, but... Who do you love more: Your FAMILY or your bank?

In Canada, lenders cannot force you to accept their coverage to qualify for the loan; however, many Canadians that have a mortgage through a Canadian bank have mortgage life insurance from the bank. This is very different than a life insurance policy, which offers more protection for your family for a lower rate in most circumstances. You may appear to be covered and the application process is simple, however...

The fact is, there are significant differences between a mortgage insurance policy from the bank, and that of a traditional life insurance policy. Click here to watch the Video from CBC Marketplace that talks about some of these differences.

	*Policy purchased at bank*	*Policy purchased from a licensed advisor*
Claims getting paid out	Medical underwriting, when an insurance carrier investigates your medical history, is performed at time of claim. This means that your claim may be denied.	Medical underwriting is performed at time of application, not at time of claim. This way, you will have more peace of mind with your policy.
Beneficiary	The bank becomes the beneficiary of the mortgage insurance policy. Although the mortgage may be paid off, what about paying other bills, putting food on the table, and saving for your children’s education?	Your family is the beneficiary of the life insurance policy. They get to decide how to spend the money.
Portability	The bank owns the policy. If you were to renew your mortgage with another lending institution, you will have to take out another policy and pay higher rates because you have aged.	You own the policy. If you were to change lending institutions, you do not have to re-qualify for insurance coverage. Your policy simply remains in force.
Cost	Premiums are generally more expensive than traditional life insurance policies. This is because the rates are the same for smoking / non-smoking individuals, and healthy / non-healthy individuals.	Premiums are generally much lower.
Convertibility	The policy is not convertible to a life insurance policy.	Once a term life insurance policy is in force, it can be converted to a permanent policy, such as whole life, or universal life policy.
Coverage Limit	Most banks offer protection up to $500,000. If your mortgage is higher, your beneficiaries will not be protected.	A traditional life insurance policy will adequately cover your needs.
Declining versus level death benefit	As your mortgage balance declines, the death benefit payable to the bank also declines.	At no point in time will the death benefit decline.