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




DISABILITY PLAN TYPES: Continued

Which type should you buy?

OVERHEAD EXPENSE PLAN:

You’ve invested a lot of hard work into making your business a success.   But what if a sudden illness or accident prevented you from running your business? Would you have to lay off employees, pass up new business opportunities or sell your business to pay day-to day operating expenses?

The chances of this happening can be reduced if you have disability insurance. Disability insurance can provide you with tax-free dollars each month if a health problem prevents you from working.

The Overhead Expense Plan is a non-cancellable and guaranteed renewable business disability insurance policy which provides a monthly reimbursement benefit for certain specified business expenses during total disability and a choice of partial or residual disability benefits during partial disability. The premiums are level to age 65.

The Overhead Expense Plan appeals to business owners and professional clients who have fixed expenses that would not be covered by the revenue generated by their business or practice, should they become disabled.

Covered Overhead Expenses:

Covered overhead expenses include most normal and customary fixed expenses. Such expenses usually continue during disability. Following are examples:

- Rent;

- Scheduled mortgage payment or mortgage interest plus scheduled depreciation;

- Electricity, telephone, postage, heat, water, gas, laundry;

- Property Taxes;

- Employee’s salaries (excluding your salary, salaries of other people in your profession and salaries of relatives, if hired after the start of disability);

- Accounting services, union dues, professional dues; and

- Leasing costs.

Expenses that vary with the activity of the business are generally not included.  Additional professional benefits and features can be combined with this type of plan.

 

BUY/SELL AGREEMENT PLAN:

The Disability Buy/Sell Plan is a conditionally renewable business disability insurance policy which acts as a funding mechanism for a buy/sell agreement. The Buy/Sell Plan is designed to provide the necessary funds to enable one or more business owners to purchase the shares of a disabled partner or shareholder in the event of total disability. This coverage provides sufficient funds to complete the buy-out, while guaranteeing a fair price to the disabled shareholder or partner.

The Disability Buy/Sell Plan appeals to business partners or shareholders of small privately owned businesses, and is usually coordinated with a Life Insurance Buy/Sell Policy.  Additional professional benefits and features can be combined with this type of plan.

 

Go to DISABILITY PLAN TYPES PAGE 1

Go to DISABILITY INSURANCE HOME PAGE

Go to DISABILITY DEFINITIONS & GROUP DISABILITY

Go to CORPORATE vs PERSONALLY OWNED INSURANCE

 

 

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 Disability Insurance options.

ANY QUESTIONS?…Contact a Licensed Insurance Advisor today!