 With Valentine’s Day happening this month, most people are thinking about what to get their significant other. Yes, chocolates and flowers are the go-to options (although I will never object to receiving either) but maybe you should be thinking about something more significant and long-term this Valentine’s Day. While life insurance isn’t the first thing that comes to mind when considering matters of the heart, shouldn’t it be? After all, what you are paying for each month is the future comfort of your spouse or family. In fact, the only person that really has no chance of benefiting from your policy once they pass away is the life insured. Now if this isn’t motivated by love then I don’t know what is. At the heart of insurance is the desire to protect and provide for the ones you love. If given a choice between a romantic night out or enough money to ensure financial security in the wake of the loss of a partner, most folks would opt for the latter. This is especially important if there are children in the picture. What most folks don’t realize is that these policies don’t have to be expensive. Often the importance of insurance is overlooked because people think they can’t afford it, however, any insurance policy can be tailored to a budget and in a world full of cell phones and Starbucks, there’s always room. After all, how much is that diamond necklace really worth when you could find a policy with a yearly premium for the same amount? Make the smart choice this year NOT to put this decision off until another Valentine’s Day. There is a right time and wrong time to buy insurance. If you wait until you are older and potentially less healthy, it will result in increased premiums and potentially declined coverage because you may have a health issue that has made you uninsurable. Broker Plus Insurance is proud to provide a wide range of products including Term Life, Critical Illness, Disability with optional Job Loss and No Medical insurance to protect those who don’t qualify for standard coverage. We also offer Child Riders on Term insurance as well as stand-alone Critical Illness, so make sure the kids get some love this Valentine’s Day as well! Did Cupid’s arrow just prick you? Check out the links below for more information! To read more on each of our products, click 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.
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 With the new year upon us, many people (myself included) are thinking about New Year’s resolutions. Whether or not one sticks to their resolution is another matter, however, it is the thought of the resolution itself that I want to focus on. Insurance can be compared to a New Years resolutions in the sense that it’s something most people would agree they need to act on or stop putting off. Whether it’s putting a policy in place that got put on the back burner when you took out your mortgage or simply reviewing your ever-changing insurance needs, it ranks up there with eating better, exercising more and working on that savings account. To help, here are four insurance resolutions you should think about this year:
#1 – Ask difficult questions: Statistics show that most people are more likely suffer a critical illness than die, yet this product can be often overlooked. It’s import that you consider your own family health history to see if there is anything that could become a potential concern in the future. Many critical illnesses have genetic links such heart issues, some types of cancers. MS and Alzheimer’s disease. We offer two types of critical illness policies; one that will pay off your entire mortgage and a more affordable personal policy that pays out a lump sum of money to cover a few years salary. A critical illness policy is the best way to ensure that you are covered from ailments that could catastrophically impact your life and financial security. #2 – Analyze your work coverage: If you have group benefits at work, there is a chance that you’ve already declined insurance or are thinking about declining insurance in favor of relying solely on work benefits. However, depending how much coverage your work offers more often than not, it is not enough. For example, you may benefit from an individual disability policy if your company does not cover a sufficient amount of coverage you would need while being off of work with a disability or even top up with additional life coverage. This approach still presents a risk in the event of a job loss, however, leaving you possibly without benefits and insurance when you need them most. Remember, insurance goes up at you get older so you could find yourself without work coverage and left with a high priced policy you can’t afford. Don’t leave yourself open. Review what you have in place and plan for the future so you are covered for the long run! #3 – Don’t give up: Have you been turned down or rated for insurance due to your health in the past? Or worried you won’t qualify for a new policy? Perhaps you settled on an Accidental Death policy thinking there was nothing else affordable for you? At Broker Plus Insurance, we want everyone to feel included, which is why we offer No Medical insurance that requires no medical underwriting and is guaranteed to ensure you have some protection in place should something happen to you. These policies are great because they cover pre-existing conditions after a certain exclusion period (either 12 – 24 months depending on carrier). Now’s the time to look into this type of affordable option that will save you from going uninsured or under-insured and facing financial hardship should the unthinkable happen. #4 – Think of the children: If you have children you may already have bank accounts and RESP’s in place for your children’s future, but what about their health? Broker Plus Insurance is proud to offer Child Critical illness insurance as a rider to our Term Life insurance or as a standalone product. These products are affordable, costing as little as $5-$10 dollars per month with comprehensive coverage from ailments such as cancer, autism, cerebral palsy, muscular dystrophy and cystic fibrosis. Our standalone Critical Illness policy covers each child up to age 75; which will insure your child for most of their life. There is also the option to add valuable life insurance to the policy, locking in their insurability through their adulthood. Coverage continues up to age 75 or can be converted before your child’s 60th birthday to a permanent life policy. Make sure all of you needs are met with our fantastic line of products so that 2018 will be a stress-free year to make new memories with the peace of mind that you and your family are protected. To read more on each of our products, click 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 http://www.memegen.com/meme/oq41tr Many of us are familiar with Charles Dickens’ classic story A Christmas Carol, and if you are not let me take a minute to explain it to you. Essentially, Ebenezer Scrooge is a miserly owner of a London counting-house, notorious for his cold-hearted, penny-pinching ways. However, through the visits of 3 ghosts of Christmas (past, present, and future) he has an epiphany about how his behavior has affected those around him and decides to become a better person until the end of his days. While you may be wondering what Ebenezer Scrooge has to do with insurance, let me assure you that in our business we have come across a few Scrooges of our own.
For example, one of the worst things we encounter in our business is a client who doesn’t think insurance is necessary or just refuses to give any real thought to what will happen to their loved ones after they pass. While a premature death and is something none of us wants to think about, isn’t that being Scrooge-like? We should think about the full impact of what that loss would look like to our family and loved ones. Another common excuse we hear from clients is that they already have too much debt and they feel a monthly insurance payment will add to their debt load. The thing is, most Canadians have debt; whether it’s student loans, a mortgage, credit card debt or a car payment and there is almost always a way to make everything work. Yet some people have no insurance in place. BAH humbug, indeed! Think of it this way, a daily latte, which is a necessity for some, may cost the average person $4 while there are some insurance policies that are as affordable as $1-$2 dollars per day! With this perspective, does insurance really seem like that much an expense? Not to Tiny Tim, it doesn’t. Another factor to consider is that you cannot afford to NOT have insurance. If you have no savings, are the sole income provider (whether single or in a relationship), have a lot of debt, no room in the budget or no money put aside for funeral cost and living expenses then you most definitely need insurance! Broker Plus Insurance is proud to offer a wide variety of personal and mortgage products that are flexible to suit any budget so no one has to go without. Whether it’s a term of 10, 15 or 20 years, Accidental Death only or partial coverage; we ensure that your needs are paramount and that it fits your budget! Whatever your needs are, Broker Plus Insurance can assist you with obtaining the coverage that is right for you and more importantly, make sure that it’s affordable. So don’t “Scrooge out” on insurance! Talk to us first through one of the links below! 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.  Often times with insurance, you aren’t worried about all of the different ways something unexpected can impact your life until it’s too late. Whether it’s being laid off from a job, finding out from your doctor you have cancer or even a disabling car accident; all of those things can have a huge impact on your ability to pay your mortgage, your credit rating, your family’s security and ultimately, your happiness. You worked hard to achieve the dream of owning a home, so really, shouldn’t more thought go into protecting it?
The reality is you need to think about having a product in place when you are employed and healthy and don’t feel an immediate need for it. Perhaps you’ve taken the basic coverage that your lender offered with the mortgage or maybe you have something through work and opted not to take additional mortgage insurance. Keeping in mind all of the ways you can be impacted, now is the time to really look at the coverage you have in place and see if you’ve left yourself at risk. Here are some important questions to ask yourself:
Broker Plus Insurance has a wide range of mortgage and personal insurance products. We are proud to offer products that many mortgage brokers and lenders do not have access to, including No Medical products for those who have been declined for insurance in the past due to health reasons. Our insurance coordinators and licensed life agents are more than happy to assist you with reviewing your current coverage. Our flexible office hours will ensure that we are able to assist you at your convenience. 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. |
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All blog posts are written from Cassie Meadows, a Broker Account Manager at Broker Plus Insurance. 
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