 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.
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 Your needs are always changing, as you get older, have children, get a new job or go through some of life’s challenges (divorce, the death of a spouse, health issues) your insurance needs need to be reassessed every few years. If this overwhelms you, it shouldn’t, because Broker Plus Insurance is here to help! We understand that for a lot of people, insurance can be a stressful thing to think about and we try our best to make it as simple and stress-free as possible.
The mistake a lot of folks make is putting an insurance policy in place and then never revisiting it as their circumstances change to make sure it’s still the best option for them. Whether it’s being over-insured or under-insured, a quick needs analysis will answer that question for you in a matter of minutes. Click the needs analysis link below and we will figure out your bottom line, contacting you with the options we think are the best fit for you! We have products for every stage of life and health profile! Mortgage Protection – Life | Disability | Job Loss | Critical Illness | Accidental Death Personal Insurance – Life (permanent and term) | Critical Illness (to age 75) | Child Policies | Disability | Final Expense No Medical – Life | Disability | Critical Illness | Final Expense NEEDS ANALYSIS Don’t wait any longer, hop on over to Broker Plus Insurance’s website through the link below and put your troubles at ease this spring! 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.  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.  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.  We are proud to announce that we have some new and exciting products available through our newest partner, Assumption Life. As a Canadian company that has been in business since 1903 and are committed to exceptional customer service. In fact, they are among the 50 Best Small & Medium Employers in Canada according to Aon Hewitt in 2015.
One of the most exciting features of this carrier is that your clients can now E-Sign! The application process can be completely paperless! This feature saves a lot of back and forth time to obtain signed original documents. In addition to that, we now have a family of personal insurance products that are ideal for people who are:
Application Process: With an application process so simple, you will avoid the lengthy hoops that most insurance carriers make you jump through. In many cases, there is an approval with 24 hours! Once you are ready to proceed we will have one of our licensed life agents take your application and payment information over the phone (days, nights or weekends). You will be sent a single authorization form that you can either e-sign or print, sign and return – your choice! Upon approval, we will notify you and send you full policy in the mail. If you are declined, you will be automatically offered one of their deferred coverage products. 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 Dollars and Sense http://dollarsandsense.sg/is-an-early-stage-critical-illness-plan-necessary/ For some folks, the concept of taking out insurance can be difficult and uncertain if they have had previous health issues which may make them unable to qualify for an insurance policy. Statistically, 1 in 10 Canadians has health and/or lifestyle issues which prevent them from obtaining coverage. The good news is we can help you with our accidental and no medical products!
Our personal insurance products allow people with health issues or who have been declined for insurance in the past due to pre-existing health conditions to qualify for insurance with no medical underwriting required. With Term Life, Critical Illness, and Disability, we have a wide range of products for high-risk people. Rates will be based on a short questionnaire with one of three rate classes, Bronze, Silver, and Gold. These policies can also be put in place as a temporary solution if you are working to improve your heath, weight, smoking status, etc. So don’t allow yourself to be discouraged if you have not qualified for insurance in the past. Let Broker Plus Insurance help to get you the coverage you deserve with one of our fantastic No Medical or Accidental products! 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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