
The chart below demonstrates the potential savings we can offer versus purchasing mortgage life insurance through your bank or lending institution.
Not only do we offer superior mortgage insurance alternatives, but we make them available to you at the lowest cost possible. Take a look at the savings examples below:
Savings
Examples* |
Best
10 Year Term Rate# |
Best
20 Year Term Rate# |
RBC Royal Bank |
TD Canada Trust |
Scotia Bank |
Our Plan Can
Save You Up To: |
$150,000 mortgage
male, age 35
female, age 31
|
$16.63 |
$18.95 |
$27.54 |
$35.80 |
$30.78 |
53% |
$250,000 mortgage
male, age 45
female, age 42
|
$34.65 |
$56.48 |
$108.00 |
$133.11 |
$110.70 |
74% |
$500,000 mortgage
male, age 45
female, age 38
|
$50.85 |
$94.93 |
$216.00 |
$224.91 |
$221.40 |
77% |
* These examples are for illustration purpose only. They must not be construed as an offer to buy life-insurance and do not form part of any life insurance contract.
# Rates as of June 12, 2008 and reflect best preferred non-smokers rates. Prices may change without notice.
"It doesn't add up! How can your plan cost less than all the competitors and still offer so much more?"
The bank and other lending institutions provide group insurance. That means that everyone, regardless of their health, gender, or smoking status, pays the same premium! The banks must do this in order to "spread the risk" of insurability, since they generally only require you to answer a few short questions about your health, but perform no investigations and require no medical tests.
Why should you have to pay more if you are healthy and a non-smoker?
The fact is, you don't have to! The plan we provide costs less because you pay according to your own personal health status. You qualify by providing medical evidence, which are standard requirements when applying for any personal life insurance plan.
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Return to mortgage insurance education center.
Click a link below to jump to another related article:
Compare Your Personal Mortgage Life Insurance Plan vs. The Bank's!
Top 3 Reasons To Avoid Bank, Credit Union, or Trust Company Mortgage Life Insurance
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Victor Camba
Senior Financial Advisor
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