MORTGAGE INSURANCE BUNDLE
The Mortgage Insurance Bundle uses the principle of having a pool of money to provide protection for three risks – become disabled, have a critical illness or die. We encourage you to complete the form so that we can go over the benefits with you and forward a brochure with all the details – how it works with examples and how it compares to traditional mortgage insurance offered by financial institutions. A brief overview follows:
Mortgage Insurance Bundle Summary
It is designed for those who have a mortgage, debt load or just want enhanced protection for your family at a substantial discount over the same products sold separately. It is particularly attractive to most people who have their mortgage insurance through an existing financial institution like a bank or credit union.
What is important is the disability benefit and critical illness products in this bundle are full featured plans that we have sold for many years. The Critical Illness, for example covers 22 illnesses, not the three to five covered in most mortgage insurance plans offered by the banks. The disability payments cover you if you cannot do your regular occupation. Group and mortgage plans cover you for only two years. It provides the full protection you needs.
The following table shows that the probability of dying before age 65 is only between 5.2% and 7.0% (femail/male) while the probability of having a critical illness or disability claim prior to age 65 is between 52.5% and 59.3% (female/male) yet few people have insurance to cover these risks. That is why our Mortgage Insurance Bundle is an important consideration.
Risk |
Male, Age 40, Non Smoker |
Female, Age 40, Non Smoker |
| Disability before age 65 | 34.7% | 37.1% |
| Critical Illness before age 65 | 27.8% | 19.8% |
| Dying before age 65 | 7.0% | 5.2% |
| Become critically ill or disabled before age 65 | 59.3% | 52.5% |
