CONSUMER ALERT!

 

THE DANGERS OF MORTGAGE LIFE INSURANCE!!!

 

Signing up for the Mortgage Insurance offered by your bank or mortgage broker may be the worst financial decision you ever make!



SAY NO TO YOUR BANKS MORTGAGE INSURANCE!.. Make sure you watch the disturbing investigation on CBC'S MARKETPLACE to find out why!

 

“Casey you are definitely the man!  You saved my wife and I over $120 dollars per month for the same exact coverage, just by getting us preferred insurance rates that our last advisor never even mentioned!  I guess it definitely was worth our time to have you review our existing policies!…thanks again for all of your help.”

 

Dave Degrassi & Jessica Robinson, Mississauga, Ontario


 

“We had Sunlife Insurance advisor that sold us some insurance and then we never heard from him ever again.  After speaking with Casey he clearly showed us why the type of insurance we had was not benefiting us at all, and had really only benefited the agent who sold it to us.  Thankfully we now have the proper type of insurance that will protect our family when we need it most, and we’re very grateful to have Casey as our financial advisor. It’s very clear that Casey’s always looking out for our best interests before his own, and we would highly recommend him to anyone looking for solid unbiased financial advice!”

 

Ben & Sheena Poitven, Oakville, Ontario


 

“Thankfully my wife and I were referred to Casey for a second opinion on our insurance policies.  Not only did he clearly explain all of our available options to us, but he was very patient and didn’t pressure us to buy anything in anyway.  After listening to his recommendations based on our specific situation, Casey was able to give us a much better insurance policy that was not only less expensive but was also for more insurance coverage!  Thanks to Casey’s advice we’re now saving money every month that we will definitely be investing with F1RST CHO1CE as well.  We would highly recommend Casey’s advice for any insurance or other financial planning needs.”

 

Mark & Magdelena Budisa, Streetsville, Ontario


 

“My wife and I have been clients for several years now, and in that time, we’ve conducted numerous transactions with both Casey and Wayne from mortgage refinancing to life insurance to managing our investments. These individuals have demonstrated that they have superior knowledge of their respective products and are able to deliver them with exceptional customer service. I have found that this combination is a rarity these days, and as such, I whole heartedly recommend their service to both friends and family with confidence.”

 

Clifton Sookdeo & Shelly Sharma, Caledon, Ontario


 

“Honesty, integrity, and professionalism are the three words that come to my mind when I hear Casey’s name. He has provided my clients over the years with the highest level of service and they always thank me for introducing them to him. Casey truly goes above and beyond.”

 

Deborah Robinson, Real Estate Agent – Royal Lepage


 

“We’re extremely thankful that we came in contact with Casey otherwise we would have the worst type of insurance coverage available! Our bank really pushed us to sign up for the mortgage insurance they were offering which we thought was a good thing.  If Casey hadn’t helped us to understanding the many disadvantages of the insurance offered through a bank, we still be overpaying for less beneficial coverage that may not have even paid out if we ever needed it!  Thanks again for your advice Casey, and going forward we will definitely be coming to you for our future mortgage, insurance, and other financial advice.”

 

Renato Silva & Jhenny Rodriguez, Mississauga, Ontario




GUARANTEED INSURANCE:

Life insurance without a medical!

 

Looking for Life Insurance without a medical exam? You’ve come to the right place. We have unique expertise in finding you the best possible rate on life insurance without a medical.  At F1RST CHO1CE Insurance Solutions we can help those hard to insure in a variety of ways:

 

1. If you’ve already been declined for life insurance, we’ll be able to take a look at your current health history and your past applications to find the best fit for you from either traditional or non-medical life insurance carriers. Non-medical life insurance policies can either be guaranteed issue (no health questions and no medical tests) or simplified issue (no medical tests and only three to 12 health questions)

2. If you have a serious health issue, but have never applied for insurance, we can recommend — or determine — whether a non-medical or a traditional life insurance plan would be best. We often recommend applying for a simplified issue plan initially and then applying for traditional life insurance, once this is in place. If the traditional life insurance plan is approved, the insured can cancel their simplified issue plan. The reason this approach makes sense is, many simplified issue plans ask if the insured has been declined in the last two years.

3. If the insured’s health issues are less severe, we will be able to recommend the best traditional life insurance provider.

Immediate coverage is available for individuals age 20 to 85.  Depending on the plan chosen coverage can range from $5,000 to $250,000 and coverage takes effect from day one!  Applicants can qualify for insurance even with a medical history including:  Cancer, Heart Failure, Stroke, Insulin treated diabetes, Bipolar Depression, Obesity and Alcohol or Drug Abuse.

 

NON-MEDICAL LIFE INSURANCE: Simplified Issue versus Guaranteed Issue

One of the small annoyances that come with buying a traditional life insurance policy is the required medical form you must fill out, especially since some people cannot qualify for those types of plans, but still want to ensure their family’s financial future. Well, don’t worry because there are plans out there that require no medical exam called Simplified Issue Policies and Guaranteed Issue Policies, but there are a few subtle differences between these two distinct plans, which you should be aware of before you buy.

 

Simplified Issue Life Insurance Policies:

These are policies available without a medical exam, but they still have a host of health-related questions. You should also keep in mind that the face amount on these policies is often limited to $150,000 of coverage because it’s necessary for a life insurance company to set a maximum to cover potential losses.  The chance of an insurance company receiving a claim for a life insurance policy that requires no medical exam is much greater than from a traditional policy.

Under traditional insurance plans, you complete a regular medical exam and (If you’re in very good health and your family has a very good medical history) you can be approved at preferred rates or standard rates. If you are deemed to have a health risk, you will be rated (charged extra) and, in those cases where your health risk is deemed too severe to qualify for the policy, declined.

Simplified plans give you the convenience and reduced hassle of being able to get coverage in a few days, without going through a medical exam.

Most simplified issue plans are not available if the insured has been declined in the last 2 years. As a rule of thumb, the more health questions on a simplified issue application, the lower the premium.

 

Guaranteed Issue Life Insurance Policies:

These plans provide immediate insurance with No Health Questions, No Medical Exam and No Underwriting. They are available even if you have been declined in the last two years.

Most guaranteed-issue life insurance policies are designed to provide for final expenses. The face amount is often limited to $25,000 and the death benefit is generally limited to a return (including interest) if the insured dies in the first two years of the policy. However, if they die by accident, the plan pays out immediately.

 

At F1RST CHO1CE Insurance Solutions were passionate about sharing our knowledge, experience and unbiased opinions with families and individuals that are looking for a trusted advisor to help them with their Non-Medical Life Insurance options.

ANY QUESTIONS?…Contact a Licensed Insurance Advisor today!