Life Insurance
WHAT’S THE DIFFERENCE BETWEEN MORTGAGE INSURANCE AND LIFE INSURANCE?
Mortgage insurance is a form of life insurance and is often combined with some Disability insurance and Critical Illness insurance. Mortgage insurance is always offered by banks, mortgage companies and is often included as part of your monthly mortgage payments. It is convenient, but given it has much less underwriting/qualifying criteria, it also has more…
Read MoreHOW MUCH INSURANCE DO I NEED?
This is one of the most important questions when assessing one’s insurance needs. Many people (and advisors) assume that they only need enough to cover their financial obligations (ie. Loans and mortgages). The real number shocks many people. Proper insurance coverage should protect your lifestyle obligations. Financial obligations are a big part of these, but…
Read MoreWHY DO I NEED INSURANCE?
We all assume we will live long and healthy lives. So why do we need insurance? Insurance will only protect you against financial consequences of life events. No money in the world will compensate for emotional loss. The two together though are a toxic mix. We all see and hear TV, radio and print media…
Read MoreWHY DO I NEED PERSONAL INSURANCE WHEN I HAVE WORK INSURANCE
Many/most people rely on insurance coverages provided by their employer/work for their individual needs. While work coverage provides a good foundation for protection plans, it is rarely enough and there are limitations to work coverages. Most importantly, you have no control over work and group coverages. They provide protection while you work for that particular…
Read MoreWILL INSURANCE PAY OUT?
I get asked this question a lot. I think what leads to the question is there are many different types of insurance such as home, auto, travel, health, in addition to Life insurance, Critical Illness, Disability and Long Term Care insurance. Additionally there are public forms of insurance, group insurance, simplified issue insurance and underwritten…
Read MoreWHAT IMPACTS THE COST OF INSURANCE?
Different types of insurance coverage’s will look at different qualifying criteria and the costs of the coverage will also be impacted. In general, the greater the risk or likelihood of claim, the greater the cost. Of the main types of insurance coverage – Life, Critical Illness and Disability: Life insurance tends to be the least…
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