Mortgage Life Insurance
Mortgage Insurance Provides a Quick, Easy And Affordable Solution to Protect Your Investment.
Buying a home is one of the single largest purchases you will make in your lifetime. It is an investment in your financial future – an investment that needs to be protected.
45% of uninsured Canadians included life insurance among their top five financial priorities and 21% ranked it in their top three – yet they still have NO coverage.
76% of parents said they worry about their family’s financial situation in case of their death according to a recent Ipsos Reid report.
1 in 6 Canadians between the ages of 35-50 will suffer an interruption in their earnings due to an accident or illness lasting more than 90 days.
1 in 3 Canadians will suffer a critical illness before age 65.
Insurance is all about risk management. By having the proper insurance in place, we are simply transferring the risk from individuals and families (who cannot afford it) to the insurance companies who CAN afford it.
I am dual-licensed as a Mortgage Broker AND Insurance Advisor. Through Dominion Lending Centres and Manulife’s Mortgage Protection Plan, we can offer you a superior option to the standard and restrictive mortgage/creditor insurance offered by the banks.
Plus, as a fully licensed (and independent) Life Insurance Advisor we can also discuss more comprehensive, flexible, and COST-EFFECTIVE solutions tailored to your individual needs. Whether you’re looking for individual term life insurance, permanent life insurance with guaranteed cash values, critical illness insurance, disability/accident/illness coverage, or specialized loan insurance, I can customize a plan that’s right for you while comparing rates and terms from Canada’s largest and most trusted insurance providers including: Manulife, Industrial Alliance, Desjardins, Foresters, Empire Life, Canada Life, RBC Insurance, and many more!
If you owned the goose that laid the golden egg… which would you insure first; the goose or the egg?
Naturally, you would insure the goose; as long as you have the goose, you can always get more eggs. So if the “golden egg” represents your house, car, and other valuables, then you’ve probably insured everything that can be replaced. The goose, however, represents your ability to earn an income. YOUR INCOME is your most valuable asset! If your income suddenly stopped due to illness, a disability, or death, where would the money come from?
Consider these stats:
HOME: for most people, your home is the biggest purchase you’ll make in your lifetime and represents a significant amount of your wealth. Do you carry home/fire insurance? OF COURSE (plus, it’s mandatory if you have a mortgage!)
… Chance of making a house fire claim? 1 in 1,200
VEHICLE: the next major purchase for most people is their vehicle, and it’s mandatory that you have auto insurance in order to drive it!
… Chance of having a catastrophic car accident? 1 in 240
DEATH BEFORE AGE 65: Chance of passing away before age 65, if you are a healthy 40-year old today? 1 in 14
An average 40 year old with net / take-home annual income of $60,000 who is planning on working for at least another 20 years, simple math $60,000 x 20 years = $1,200,000…. is this need protected?
DISABILITY BEFORE AGE 65: Your loss of ability to perform your own occupation or any occupation as a result of injury or sickness would represent a loss of income, and perhaps a change to lifestyle.
Cumulative risk to age 65 of an individual age 40 today to make a disability insurance claim? 1 in 5 … is this need protected? (if so, do you understand the details of your coverage and the duration of your benefit period?)
CRITICAL ILLNESS: Cancer, heart attack, stroke account for more than 90% of critical illness claims before age 65. The good news; more and more people are surviving! The bad news; if you don’t have the right insurance, the initial event or diagnosis and time off work to recover takes a huge toll on your income, lifestyle, and savings plan. Critical illness insurance provides a tax-free lump sum payment that you can use however you want. Consider these costs; household bills/mortgage payments, medications/treatments not covered by your provincial health plan or your group plan, funding an unpaid leave or time off for your partner/family friend to be with you, hiring a nanny to help with the children, travel for special treatments, or post-recovery holiday celebration … anything you can dream of!
If you had a one in three chance to win the lottery, would you buy a ticket? Well, how about this stat: ONE IN THREE of us will have a critical illness in our lifetime! Doesn’t it make sense to cover the risk?
LET’S PROTECT YOUR EARNING POWER.
Contact me to discuss your needs, any existing coverage you might have, and I’ll put together a plan tailored to your individual needs.