 No, this is not a game; although an insurance company can make it seem like it is. Chances are, you have had to answer questions like these at one time or another. If not, you will most likely need to answer these questions if you decide to apply for insurance. Two common examples of these questions are have you ever been tested for cancer and have you ever been tested or treated for high blood pressure. These statements are cryptic and perplexing for many people; as insurance companies often fail to elaborate on what the question truly means.
As an example, have you ever been tested for cancer is one of the most ambiguous questions a health exam can ask you. If you have ever had a mammogram or a prostate exam you have, in fact, been tested for cancer and need to answer "yes" to this question. Problems can emerge when you answer "no" to this question. If in the future you are to get breast cancer or colon cancer, the insurance company can make it harder for you to submit an approved claim. The second question, have you ever been tested for high blood pressure, is another question many people unknowingly answer “no” to. Most of us have had our blood pressure tested at the doctor’s office by a manual blood pressure monitor. However, many of us do not see this test as a blood pressure test and will answer "no." The unfortunate thing about answering "no" to this question is should you experience blood pressure issues in the future, your doctor will note that they were tested for high blood pressure at some point in your medical history. With the examples given above, it is easy to understand how confounding these questions can be. One of the ways insurance companies can offer cheaper premiums to their clients is to lower their risk. They accomplish this by limiting the number of people who qualify for coverage. Often, this is executed in the wording of the application, as noted above. If you are not knowledgeable about this loophole, you can fall into a scenario where you may not be covered, should the unthinkable happen. At Broker Plus Insurance we offer mortgage insurance policies that have health questions only pertaining to the last 24 months. Our only “have you ever” question is regarding if you have ever been refused or charged higher premiums. To ensure you are qualified, we will also send you an additional health questionnaire to help catch discrepancies or missed answers. If you are interested in term life insurance, you will go through a full screening by the insurance company. This enables us to know immediately if you do not qualify for standard insurance so that we can offer you one of our products where no medical is required. Educating yourself about these pitfalls is one of the smartest things you can do before answering these health questions. Allow Broker Plus Insurance to assist you in taking the stress out of gaining insurance by requesting a free quote today! To request a quote on the products we offer, click here. Or call: 1-877-242-8820 and press 3 to speak with an insurance coordinator.
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 Image obtained from Success Yeti http://successyeti.com/communication/importance-honest-workplace/2015/10/05 I felt compelled over the weekend to write an article about a conversation I had with a friend of mine. We were speaking about the importance of insurance and my friend made an alarming statement. She said “I would love to get insurance but I do not trust insurance companies… there have been so many horror stories lately that I’m not sure I want to take that risk.” As someone who is working on getting my life license, I felt the need to prod her for more information, which is when she mentioned a co-worker of hers being declined at claim time for his mortgage disability protection.
I reassured her that not all insurance experiences are bad, in fact, most claims that are declined are completely avoidable in the right hands. Most mortgage insurance issues arise due to incomplete health information. As painful as it is, you can never be honest enough when it comes to your health history when you are applying for coverage. The way to look at it is the insurance company can either fully scrutinize your health now or at claim time when it may be too late. With most of our products, clients are fully underwritten upfront but there are always some that will be put in place automatically due to mortgage amount and how you answer the initial health questions. In order to protect you, we will have you complete a more comprehensive medical and lifestyles questionnaire to help catch discrepancies that would normally have put you into underwriting. Having that extra assurance that you’ve been formally approved by the insurance company is important. Whether you are looking for mortgage protection or a specialty product like term life, critical illness or a guaranteed issue (no medical required) product, we’ve got you covered! Our professional insurance coordinators and life agents will work with you to put insurance in place that you can count on! See what clients and have to say about our service here! To request a quote on the products we offer, click here. Or call: 1-877-242-8820 and press 3 to speak with an insurance coordinator.  Image obtained from Local Home Automation http://www.localhomeautomation.com/who-needs-a-garage-door-alarm/ Insurance, of any kind, is arguably the most important thing for you to have. Too often, many people do not see a need for insurance or already a policy in place; which may not be best suited for their needs. What many people fail to realize is that even if they have insurance, they may be paying high premiums due to not shopping around for other insurance quotes. At Broker Plus Insurance, we ensure that you are provided with the lowest rates possible; as we take the time to contact a wide array of companies and types of insurance to ensure you are getting the best bang for your buck.
Another issue is when people believe that their best course of action when it comes to insurance is to do their own research. However, we have found that most times, many people will not follow through with this research. The end result of this oversight is when you need insurance, you may not qualify for it; which could lead you to face financial hardships. A common concern we hear from clients is that they are worried about paying a monthly premium as they feel they are stretching their monthly payments to the maximum. At Broker Plus Insurance, we are proud to offer reasonable rates and partial coverage options for you to ensure that you are not spreading themselves too thin every month. Another important aspect of insurance to remember is portability; which many homeowners are not aware of. When you take a mortgage insurance policy offered through a lender you don’t think about what will happen if they move their mortgage to a new lender in the future. Most people do not realize that they cannot take their insurance with them; as lenders can only insure their own mortgage. When you begin a new insurance policy with a new lender, you will likely be in a higher age bracket and will have to pay higher premiums. If you have had a change in health status, you run the risk of not qualifying for coverage. For those who have been turned down for insurance in the past due to underlying health conditions, we offer No Medical products; which require no medical underwriting. As with all of our products, insurance is portable and guaranteed to provide you with affordable rates and inclusive protection. To request a quote on the products we offer, click here. Or call: 1-877-242-8820 and press 3 to speak with an insurance coordinator.  Image obtained from CNBC http://www.cnbc.com/2015/12/01/surviving-a-job-loss-without-losing-your-shirt.html Job loss is something that no one wants to think about. In today’s economy, many of us cannot afford to have unpaid time off. A recent example of these job losses is the significant increase in unemployment that has occurred in Alberta over the last few years. This time off can be strenuous, especially if it is unpaid or you have to wait for government assistance such as Employment Insurance to activate. It’s important to note that this activation period can take up to 1 month; which means that you may struggle to ensure that your mortgage is paid.
The result of this instability has been the increased popularity of Job Loss insurance products for individuals to take into consideration when buying a house. If you are taking out a new mortgage, it is important that they have some sort of insurance to assist you should you or your spouse lose your jobs or become laid off. At Broker Plus Insurance, we have the perfect products for those with new mortgages who are looking for extra protection. It is important to note that the Job Loss Rider must be taken with our Disability insurance and cannot be purchased by itself. The benefits of the Job Loss Rider:
The benefits of the Disability Insurance:
To request a quote on the products we offer, click here. Or call: 1-877-242-8820 and press 3 to speak with an insurance coordinator.  Image obtained from iStock by Getty Images http://mrg.bz/uBZ6GK The heading above is something that many young adults are naïve towards. In today’s society, no one, especially young adults, can afford to get sick. If recent statistics are to be believed, one can deduce that 33% of Canadians do not have life insurance. No one likes to think about the inevitable, however; it is the inevitable that must be taken into consideration when thinking about our future. For many of these young adults, insurance is something they may not consider until it is too late for them to utilize a policy effectively.
When young adults finish school, the last thing they want to think about is taking out a life insurance policy. As many young adults are buying homes much later than when their parents, they don’t see the need for insurance. A common misconception among young adults is that insurance is only required once they have equity. . In fact, securing a young adult’s insurability while they are young and healthy is the smartest thing they can do. At Broker Plus Insurance, no mortgage is required to qualify for our Term insurance products. Even if you don’t qualify for a mortgage or have young adult children who are just starting out, we can help place them with an affordable policy. This is a great way to secure the insurability and financial stability of your future! Our Term Life insurance has many benefits, the most important being they choose their beneficiary, should something happen to them. We provide non-declining life insurance coverage for a specified period of time. The terms offered are 10, 20, 30 and 100 years; we can also offer you coverage from $25,000 up to 5 million. This type of insurance is also renewable and convertible and has six optional riders available. Critical Illness is another product that is smart to put in place when clients are at a lower risk and in a cheaper age bracket! These optional riders are:
To request a quote on the products we offer, click here. Or call: 1-877-242-8820 and press 3 to speak with an insurance coordinator.  Picture posted by http://www.theguardian.com/society/2010/mar/14/nhs-neglect-parents-sick-children It’s something no parent ever wants to think about; the thought of a critically ill child is unsettling. What’s even more unsettling is when it’s your own child that’s critically ill; then it’s heart-wrenching. There are many parents in Canada who take out a child critical illness rider policy when they take out their life insurance policy, in order to protect their children. Recent statistics state that 33% of Canadians do not have life insurance; which can lead one to assume that 33% of Canadian children are not covered by an insurance policy. What some parents fail to realize is that if their children are not covered by an insurance policy they are placing themselves, and their children, in a position where they are not protected, should the worst happen.
Broker Plus Insurance is proud to offer two unique products available as riders to our Term-Life insurance. Child Critical Illness Rider: • For $60 per year for $10,000 coverage or $120 for $20,000 coverage you can rest assured that your child is protected from 15 defined critical illness conditions. • For a complete list of the 15 critical illness conditions; email our sales department by clicking the link below. • It’s important to note that this type of insurance is suitable for children under 21 years (or 25 if full-time student) at the time of diagnosis; foster children are also excluded from this type of insurance. • There is no underwriting required for this policy, but there is a 24-month pre-existing exclusion. For Child Protection Benefit: • For $60 per year for $10,000 coverage or $120 for $20,000 coverage you can rest assured that your child is protected from 15 defined critical illness conditions. • For a complete list of the 15 critical illness conditions; email our sales department by clicking the link below. • It’s important to note that this type of insurance is suitable for children under 21 years (or 25 if full-time student) at the time of diagnosis; foster children are also excluded from this type of insurance. • As with Child Critical Illness, there is no underwriting required, but there is a 24-month pre-existing exclusion. It is important to note that the maximum combined benefit (from all @pprove Child Protection Benefits) for each child is $20,000. • This benefit provides a conversion option up to 5 times the rider amount after 2 years in force. • When the insured parent’s base policy is converted, within the time frames stated in the Rider Conversion Option, then a similar rider may be included, at the owner’s request (subject to the rules in effect at the time of application for the converted insurance). If you are concerned about the safety of your children, as a parent should be, dial the number below to speak with one of our sales representatives about how you can help protect our future generations. To obtain a quote on this product, please click here. Or call: 1-877-242-8820 and press 3 to speak with an insurance coordinator. |
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All blog posts are written from Cassie Meadows, a Broker Account Manager at Broker Plus Insurance. 
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