Category Archives: Canadian Life Insurance
Term Life Insurance For HIV/AIDS
Historically, I have had no access to life insurance products that will cover clients after contracting HIV or AIDS. Solutions Financial was founded on the premise of providing a Solution for every possible client. Therefore, I spent many hours in the past calling colleagues and carriers alike searching for a solution. Thankfully the Industry has caught up and Solutions Financial now offers an affordable Term Life Insurance for HIV/AIDS patients. Additionally, this product is approved with No Medical Exam and is underwritten by one of our strongest partners.
Are there exclusions?
As discussed, our Term Life Insurance for clients with HIV/AIDS will provide instant coverage. However, are there any major exclusions?
There are many reasons why one should work with an Insurance Broker
What is a Life Insurance Broker?
Working with a Life Insurance Broker is the best way to buy Life Insurance. A life insurance broker is a committed individual that encourages and listens to the needs of any individual. An insurance broker will be able to find appropriate rates for you to choose from. A life insurance broker can provide from many sources. Specifically: we can shop for life insurance you require from a carrier in another city or province. This means that a Broker frequently offers better rates then a local life insurance company.
There are many advantages in dealing with a life insurance broker when you want to obtain life insurance.
You Should Avoid Mortgage Insurance In Canada
Reason #1 Generally, you should avoid mortgage insurance because mortgage life insurance from most lending institutions is non-convertible term insurance. Therefore there is no cash value.
Reason #2 No premium flexibility. You have no flexibility when it comes to premium payments.
Reason #3 No ability to move to a permanent life insurance policy if your needs change.
Reason #4 Usually mortgage life insurance covers the exact amount of your mortgage. Policy coverage decreases as the mortgage is paid down.
Reason #5 Coverage is lost when the mortgage is paid off.
Reason #6 Your lender owns the policy and if you find a better mortgage rate at another lending institution,