What is term life insurance?

Term life insurance is affordable, easy-to-understand coverage that gives you flexible, temporary protection.

You will be covered for a specific period of time and the cost is guaranteed for the entire term. If you die while the policy is in effect, your beneficiaries will receive a tax-free payment. Most policies also have the option to convert your coverage to permanent insurance regardless of any changes to your health, occupation or lifestyle.

Is term life insurance right for you?

Term insurance is an effective solution for people who are:

• Focused on affordability and value

• In need of temporary protection (for example, to cover a mortgage or business loan, or until children are finished school)

• Business owners with a need for key person protection and/or to fund buy/sell agreements

tant Quote

Mortgage Insurance ~ VS ~ Personal Life Insurance

Mortgage Insurance

• Your policy is subject to change of the insurance provider and the terms of the agreement

• Your mortgage lender owns the certificate of insurance

• Your mortgage lender is the beneficiary

• The amount of insurance protection reduces as you make your mortgage payments

• The cost of insurance does not decrease even though the amount of protection does

• The insurance protection is not transferable and is limited to the mortgage you have for a certain property with a certain lender

• No changes are permitted under the plan

• The insurance is not guaranteed renewable for a new mortgage and, if you change financial institutions, you must provide new evidence of insurability

• PST added to your cost of insurance

Personal Life Insurance

• Insurance company cannot change the policy provisions or the guaranteed policy premium

• You are the owner of your mortgage insurance policy

• You name the beneficiary of your choice

• The insurance protection never decreases unless you request a reduction

• If you reduce your coverage, your payments will be reduced as well

• This protection stays in place when you change

• Homes and mortgage lenders

• You can make changes to your policy, including change of beneficiary, amount of coverage and conversion to a permanent insurance policy Insurance protection is guaranteed renewable up to age 85 and you can keep it this long if you wish

• PST added to your cost of insurance

MORTGAGE WAIVER FOR