 I remember New Years’ Eve of 2019 like it was not even half a year ago. I had written down some goals I wanted to accomplish in my manifestation journal and was optimistic about 2020 being one of the best years yet, not just for myself but also for everyone. Not many of us could have seen this coming, but 2020 has turned out to be one of the most trying times in modern history. With many folks, including my husband, suffering layoffs from the COVID-19 outbreak, daycares closing, parents becoming homeschool teachers with no time to refresh themselves on how to do long division, its been stressful for many of us, to say the least.
Let’s be real here, how is everyone really doing? It’s okay to feel down, miss your family and friends, to stress clean the house for the second time in one day or to let the dirty dishes pile up because hey, you got nothing planned for tomorrow, right? There is a light at the end of all of this, and as Canada starts lifting restrictions, this light is getting brighter. In times such as these, people are confused as to what they should do next in our changing society. When it comes to insurance, many client’s know that Broker Plus Insurance is the stress-free way to ensure your coverage needs are met. We’ve prided ourselves on going above and beyond for clients during this time by continuing to provide a flexible full-service center here to contact you at a time that works for you. However, if you are one of the many folks we speak to who are putting off purchasing a home at this time or looking at refinancing their mortgage, it's always beneficial to look at one of the various Term Life products we have available. For clients who may want more coverage, we have Disability options (with 2 and 5 year benefit periods), Critical Illness and No Medical products for clients who may have a history of health issues or who may be hard to insure. We even have child policies! Going without insurance is not something anyone should put off any longer, especially in light of the current global pandemic. Contact Broker Plus Insurance today for more information on how we’re here to help our clients navigate through this uncertain time. 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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 We’ve been hearing a lot of concerns from our clients about obtaining insurance during this time of uncertainty in our society due to COVID-19. Many clients think that applying for insurance is something that requires to be done in-person, which isn’t the case with any of the carriers used here at Broker Plus Insurance! We can take applications over the phone, and paperwork can be signed and scanned or faxed back to us for processing.
How Do We Make This Work?
Yes, it really is that easy to apply for insurance while respecting social distancing. We have access to a wide range of products to ensure that your entire family is covered! 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.  I read an article recently, which has prompted me to write this post and with June being Pride month; this article could not come at a better time. According to the report, which is cited at the bottom of this blog, Iowa State University's Ivy College of Business found approval rates for same-sex couples were between 3% and 8% lower than for heterosexual couples. I realize this study is based out of the United States, and I like to think that as Canadians, we are little further ahead with acceptance compared to our southern neighbors. However, we have had clients from the LGBTQ+ community who have told us they have been afraid of applying for insurance for fear that they will be turned down for who they are or who they love. Let me make one thing perfectly clear before I go any further. Regardless of who you identify as or who you choose to love, there is something that you cannot forgo; and that is insurance. Rest assured that at Broker Plus Insurance, we do not impose a rating, nor discriminate clients based on their sexual orientation or gender identity. In fact, sexual orientation is not even asked on any of our applications because that’s your business, not ours! We offer several different products for clients from all walks of life to ensure that their needs are covered with the best product possible. We have Term options of 10, 20 and 30-years; three No Medical products for clients with previous health conditions and specialty products such as Critical Illness and a Job Loss Rider to our Mortgage Disability insurance. We even have child riders for Critical Illness and Child Protection that can be added to our Term life insurance, which covers biological children AND adopted children.  Regardless of who you love or who you are, we should all share the same love for insurance. Contact our office today to find out how you can protect yourself and your family.
To request a quote on the products we offer, click here. Alternatively, call: 1-877-242-8820 and press 3 to speak with an insurance coordinator. **Source https://www.mortgagebrokernews.ca/market-update/do-mortgage-lenders-discriminate-against-samesex-couples-256558.aspx?utm_source=Pinpointe&utm_medium=20190418&utm_campaign=MBN-Morning&utm_content=CD515713-56DD-42B4-A34A-AC106012B56D&tu=CD515713-56DD-42B4-A34A-AC106012B56D  We’ve heard almost every excuse in the book from our clients regarding why they think insurance is not an urgent matter. While aspects such as budget, sudden vehicle work, or a rainy day can lead one to tighten the grip on their wallets; there is never a “good” excuse not to have insurance. The alarming fact is that if you are living with a tight budget, you are actually in need of insurance the most. Consider what would happen if you were suddenly disabled and unable to work for eight months, or worse, you or your spouse pass away unexpectedly. Do you have one year’s living expenses tucked away to see you through months of reduced income or the loss of an entire income?
1. I have life and disability coverage through work. This is a common rebuttal we hear almost every week and while health and extended benefits through work are a fantastic thing to have; they are usually not enough to cover you if something were to happen. As an example, my husband makes $60,000 per year, and his work coverage pays three times his yearly salary if he dies; which equates to $180,000. While this may seem like a decent amount; when you factor in costs such as childcare, mortgage payment, living expenses, vehicle insurance and maintenance, food, clothing, and other necessities; it’s easy to see that this amount will not be sufficient to sustain my family’s long-term needs. The other major concern is what happens to his coverage if he loses his job? It is always smart to have a personal policy that belongs to YOU and not your employer. 2. I have a history of health conditions; no company will cover me! Broker Plus Insurance is proud to offer three No Medical products in Life, Disability and Critical Illness for those who may have a history of past health conditions or who do not want a medical exam as an underwriting requirement. The benefit of these products is that they provide three different insurance options for those who may be turned down or have been turned down in the past. The best thing about this product is that there are three different rating structures for clients interested in this product; thus almost every client can be covered under this policy. If, for whatever reason, your client cannot be covered under this type of policy; even having an accidental death only policy is better than no coverage at all! 3. We’re living paycheque to paycheque; we don’t have enough money for an insurance premium. This is by far the most common rebuttals we hear from clients, and we understand that with a new mortgage, utility bills and a family to feed; there isn’t much money left for anything else at the end of a paycheque. However, there are several “necessities” that we spend money on which can be cut back or put towards insurance. A typical example is those who stop off to get coffee every morning. Let’s assume it’s just a coffee and the going rate for that is $2.50 – what if I told you that insurance policies could cost as little as $1 to $2 per day? It’s true, and something that could easily be cut back to have coverage in place. Another option is to do partial coverage so that there is at least some coverage in place, should something happen. Contact us today for more information about how we can take care of your families insurance needs. To request a quote on the products we offer, click here. Alternatively, call: 1-877-242-8820 and press 3 to speak with an insurance coordinator.  In the words of Bob Dylan, “the times are a changing.” With marijuana now legalized in Canada, the smoke is starting to clear regarding how companies are rating those who smoke marijuana. Many companies have already made adjustments to their policies for those who consume marijuana, specifically, about smoker rates. For certain companies, those who consume under a certain amount of marijuana per week can now qualify for non-smoker rates!
Broker Plus Insurance is proud to offer mortgage insurance and term life products through Great-West Life and Western Life who both allow marijuana users to be eligible for non-tobacco status on an individual case by case basis provided that there has been no other use of tobacco products, nicotine or e-cigarettes in the previous 12 months. This new amendment is excellent news for those clients who may not have taken insurance because they “smoke a little bit of weed” occasionally or who may have turned down insurance in the past as they were afraid they would not qualify or did not want a rated policy. Another one of our providers, Canada Protection Plan, enables clients who smoke marijuana up to four times a week to qualify for non-smoker rates! This policy is perfect for clients who are regular users of marijuana as it is very generous in the amount they are allowed to light up. These clients are eligible for:
Insurance is something that everyone needs dude! Contact us today to for more information! To request a quote on the products we offer, click here. Alternatively, call: 1-877-242-8820 and press 3 to speak with an insurance coordinator.  Insurance, for many of us, is not something we get overly excited for unless, like us, you happen to be in the insurance industry. It creates worry, doubt and in some cases, causes people to shut down and not look at all their options. Chances are you may even have insurance in place already, whether it’s through group benefits from your place of employment or perhaps life and disability insurance on your credit cards once you have this insurance in place you don’t think about it unless you need to submit a claim, or a significant life change happens. The same mentality can be said for mortgage, life, disability, and critical illness insurance, however, more often than not, we’ve seen clients get overwhelmed, confused or even outright reject the thought of putting another product in place because they already have enough coverage (or so they think).
The benefit of utilizing Broker Plus Insurance to ensure your family’s insurance needs are being met is that we put your needs first and will walk you through the coverage options we feel are best suited for you. Our objective is not to oversell you on something you don’t need. Instead, we make recommendations and help you see how it can fit in your budget. We translate the jargon that a lot of clients have issues understanding and make insurance simple, proactive, and affordable. We have products for the whole family, even children as young as 15 days old can be insured on our child policies and riders to our Term Insurance! Some products your family may need include:
What makes us different? We have been in business for over 19 years providing this service to mortgage brokers and their clients. Our insurance coordinators are not paid on commission, so you need not worry about feeling pushed into getting a product. Moreover, we have a wide range of coverage options and the ability to scale coverage to fit any budget while still ensuring that all your bases are covered. We could all use a little less stress in our lives, give us a call today to find out more information or to request a quote! 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.  For potential home-buyers in British Columbia, this has been a tough year for those who want to take out a mortgage. Since the Office of the Superintendent of Financial Institutions revised mortgage guidelines were implemented the Bank of Canada raised rates again by 0.25%; which adds to the financial burdens new home-buyers face. In fact, in issue 13.03 of Canadian Mortgage Professional magazine, mortgage brokers reported that the borrower rejection rate from large banks and traditional monoline mortgage lenders have gone up by as much as 20%; which leaves would-be home-buyers in a very difficult situation. While certain provinces appear to be harder to get into for first-time home-buyers than others (you should see what $300,000 will buy you in Nova Scotia compared to Vancouver) the need for insurance is heightened by these newest rules. While the stricter rules may have unintended consequences, including sending a higher proportion of borrowers into alternative and private channels it may mean that when it comes to mortgage insurance, you could be getting better coverage by looking at other options. This is where Broker Plus Insurance comes into play, unlike most mortgage brokers, we are proud to offer specialty products such as No Medical, Job Loss, Child Critical Illness and Term insurance with the options of having terms up to 30 years. While mortgage brokers do their due diligence to vocalize the need for insurance their hands are essentially tied because they cannot explain the product benefits and/or drawbacks, unlike our company. We put you and your family first to make sure that the products we are offering you are best suited for your needs. While the prospect of tapping into the housing market can be scary for first-time home-buyers, don’t let the need for insurance scare you from making your home-buying dreams come true! 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. |
Author
All blog posts are written from Cassie Meadows, a Broker Account Manager at Broker Plus Insurance. 
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