 We realize that not every client we come in contact with has the time for individual underwriting requirements such as paramedical exams. The benefit of our Canada Protection Plan (CPP) No Medical insurance products is that there is no medical exam required from the client! Recently, we were ecstatic to learn that CPP has raised its maximum amount of available coverage for their Express Elite Term Plans from $500,000 to $750,000! They have also relaxed the weight and height chart so that more clients can qualify for this product! Like all of our CPP products, the application is completed with a life agent and a questionnaire to keep this process simple and easy for your clients. However, we also realize that several of our clients will need specialty products due to a health history of serious medical conditions. This is where CPP has once again gone above and beyond by allowing clients with serious medical conditions who can apply for their A-Z Life Coverage; a product designed for the hard to insure! Coverage is available from $10,000 up to $500,000 without a medical. Riders For CPP Policies:
Additional Benefits Of CPP:
Free marketing materials for both products available here! The most significant accident you can make is thinking that with your health conditions, the online insurance you’ll qualify for Accidental Death insurance. Contact us today for more information on how these robust products can ensure your needs are genuinely protected! 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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 Insurance can be equated to a horror movie to many of us, as we never know what’s lurking around the corner in the haunted house of life. While we hope to get out safely, we don’t know if Jason, Freddy or Pennywise is around the corner; waiting to catch us off guard. Unfortunately, what happens to many people, is they run through this haunted house frantically trying to evade the monsters who want to harm us. These monsters are cancer, death of a loved one, disability, and the worst, in my opinion – a critically ill child.
While running through the haunted house of life, frantically does work for some people, it’s not a practical solution to fighting off these monsters. No, you don’t need a knife, hatchet or chainsaw; what you need is insurance. Now imagine you’re trapped in this haunted house with another person named Georgie. Georgie confidently claims, “I have insurance through work, I’m covered three times my salary if I pass away; these monsters can’t hurt me!” Wrong Georgie, let’s break this down to make it a little easier to see why Pennywise grins from ear to ear when he hears someone say this. Georgie makes $50,000 a year if he passes away his spouse gets $150,000. While this amount is enough to cover three years without him; what about the other years he would have been alive? Does Georgie have children? If so, he will need much more than three years of coverage to ensure his family’s needs are taken care of. If Georgie was to take a Term 20 policy for $500,000; he would be able to have 10 years of his salary paid upon the time of his death, add the three years he gets paid from work – that’s 13 years of his lost salary wages his spouse will have to ensure his family can safely navigate through the haunted house of life without Georgie. Don’t fall into the pitfalls of work coverage as the magic potion for your needs; contact us today for more information. 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.  If there’s one thing we dislike the most in our industry, it’s when a client is turned down for insurance. There’s a common misconception that if you’ve been turned down for coverage in the past, the only insurance you will qualify for is an Accidental Death mortgage insurance policy. This could not be further from the truth when you utilize Broker Plus Insurance for your mortgage and insurance needs. We can offer high-risk clients a FULL personal term insurance policy with our No Medical A-Z Life Coverage! Accidental Death policies will only pay out if you were to pass away as the result of an accident, leaving your family without any coverage on natural causes. As well, it is based on a declining balance and will only pay out the amount outstanding on a mortgage at the time of death. No Medical Life insurance is just like a standard Term Life policy with one exception; there’s no paramedical information required! You may be surprised to know that No Medical life insurance doesn't have to cost “an arm and a leg.” With 4 rate classes based on risk, we have access to the best custom no medical insurance in the market today! How Does No Medical A-Z Life Coverage Compare To Accidental Death?  As you can see, there are several benefits to looking at a No Medical policy compared to Accidental Death only. With the allowance of some pre-existing conditions, no paramedical exam and more robust coverage options; No Medical Insurance is definitely a better product to choose.
We are also excited to announce a new No Medical Express Elite product, which is suitable for relatively healthy clients. This product is perfect if your client leads a busy lifestyle, does not have time for a paramedical appointment, or perhaps they enjoy extreme sports such as skydiving that many insurance companies will not place a policy with. Whatever their reason is, we have the perfect product for your clients, which has a maximum of $500,000 coverage. 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  For some people, the concept of insurance can seem like a losing battle at times. The process of obtaining insurance can create anxiety for those with certain lifestyle habits, potential health concerns or for those who may have been declined for insurance in the past. While insurance is no doubt scary for these individuals, it shouldn’t be an excuse for them to forgo it simply because they think they won’t qualify. We have access to a few carriers who have created insurance products for this group of people to ensure their needs are being met. #1 – No Medical Life:
 There’s no excuse for you to settle for an Accidental Death policy as we have full policies that can cover them; should you have a history of medical conditions many other companies may not place a policy with. Make sure that you and your family have all your insurance needs covered, without sacrificing the integrity of their insurance policy. Contact us today 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.  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.  Just yesterday, I was privy to a conversation at the grocery store check-out in which a husband and wife were speaking about whether or not they should commit to an insurance policy. The husband was stating that they had a lot on their plate financially right now and that insurance would be another bill. In fact, he even said, and I quote “if we get this we’re just adding another expense to a huge financial commitment we just made.”
I had to bite my tongue, as I could already find several fallacies with what he just said. The husband was not wrong about debt being an issue, according to an Ipsos poll, the average Canadian owes $8,500 excluding their mortgage. On top of that, there are lifestyle expenses we try to defend, such as a cable package, Netflix, gym membership and even daily trips to Starbucks While budgeting can be daunting, there are ways that you can ensure that you can afford a monthly insurance payment. For example, a daily latte may cost the average person $4 some insurance policies are as affordable as $1-$2 dollars per day! With this perspective, does insurance seem like that much an expense? Another factor to consider is that you cannot afford to be in a situation where you have no insurance in place. 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 you need insurance THE MOST! Broker Plus Insurance is proud to offer a wide variety of personal and mortgage products that are flexible to suit any budget. Whether it’s a term of 10, 15 or 20 years, Disability, Accidental Death or partial coverage; we ensure that your needs are paramount and that it fits your budget! Remember, insurance is always one of those things where it’s better to have it and not need it than need it and not have it. Ensure that you and your family are protected today by contacting us 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. *Sources cited https://globalnews.ca/news/3933617/average-canadian-consumer-debt-ipsos-poll/ We’ve all heard the old adage “Age is but a number” and while most of us would agree that’s a good motto to live life by, when it comes to insurance the older you get means the harder it can be to obtain. That being said, there are insurance products out there for most age groups. Let’s take a look at what insurance can look like at different times in your life.  0-18: Even though you may not be this young, it is worth noting that when it comes to the best age to buy insurance this is the BEST age group. We have fantastic child policies which can cover Life and/or Critical Illness. Now you may ask yourself why does a child need life insurance when they don’t have any debt or dependents? The value lies in locking in their insurability before any health issues put them at a higher rate or render them uninsurable. Once they become adults, they can convert the policy to a permanent one, take over the premiums and enjoy a low rate of coverage for their entire life. We even have a rider to a term life policy that allows a parent to buy coverage a blanket policy for all of their children – even those who are not born yet! All for as low as $5 or $10/month!  19-29: While this group is likely new to the housing market and probably strapped tight when it comes to being able to afford it, this is a fantastic time to purchase as much insurance as they can for the longest term they can afford it. There’s a lot of benefits to taking insurance at a younger age, not only are they offered the cheapest premiums, they are also locking in their health status while they are young and hopefully healthy. A 30-year term will have those rates locked-in and hopefully see you through to retirement. Although rates will rise when they go to renew their insurance between 50-60 but a significant portion of their mortgage should be paid down and they can lower their insurance coverage to prepare them for retirement.  30-49: This group is probably your most significant demographic when it comes to mortgage clients – and the best suited for it! They likely have children, car loans, credit card debt and may even be living beyond their means. The loss of a spouse could be devastating if insurance is not in place to cover debt and living expenses. At this age insurance rates can vary depending on health but it should be made a priority and for as long a term as your clients can afford. With mortgages being refinanced at the rate they are, those financial obligations are extending further and further into retirement age. We encourage you to lock in their rates before health and age triple and even quadruple premiums.  50-69: For those who are older, insurance can be a daunting prospect as premiums increase as one ages. Maybe these individuals have had a history of health problems or have been rated in the past and don’t want to go through the headache of getting a paramedical exam done only to find out they will be declined or rated. While we try and encourage everyone to apply for standard insurance policies first, we do have a line of No Medical products (Life, Disability, and Critical Illness) that require no medical underwriting! These policies are rated higher for risk and will come at a cost – but it’s not too late to lock in your rates for 10 or 20 years. Even if coverage amounts have to be lowered to fit a budget, some insurance is better than nothing!  70-85:
If you fall into this age category, insurance isn’t always an easy sell. Unfortunately this age group is rated the highest in risk and therefore the premiums to cover an entire mortgage loan are usually unaffordable. What we do recommend for this age group is a final expense policy – something in place to cover remaining debt, burial costs and some living expenses for the surviving spouse. If the remaining spouse can’t afford to take on the mortgage, this leaves the funds available from the sale of home so he or she can downsize or make other living arrangements. So no matter you are, insurance should be considered! Contact Broker Plus Insurance today to ensure that your needs and your family’s needs are satisfied. 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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