Before you start reading, check these videos out. The first is a fun piece we put together featuring Crash Test Dummies Jack and Jill.  If you can’t understand their voices, please click here to download the script. The second video is a mortgage insurance exposé by CBC Marketplace.

If you have mortgage insurance to secure your family’s future in case you get sick, hurt or die, congratulations on making the right choice.

If you don’t have any coverage, you may need to get some. Your loved ones need to stay in their home even if you are out of the picture. Don’t you owe it to yourself and them to read on?

Although you may insure your home, cars and other valuables your ability to provide for your family is by far your greatest asset.  Here are the chances of real catastrophe:

Statistics for disability, critical lllness and death

Life, disability & critical illness insurance replace the value of a person’s income if those disasters strike. However, mortgage payments are typically only one third of a household’s income. The banks will only cover the mortgage payment. What about the other expenses?

Mortgage insurance is an easy sell for the banks. They suggest it before you’re able to do any comparisons. There’s added pressure in the requirement to sign a waiver if you say no.

The bank should not control your insurance. Here is why:

Comparison between bank-issued mortgage protection and a personal policy

A glossy mortgage insurance brochure doesn’t cut it. You really need to work with a specialist.

WealthSmart Financial Group is independent and works for you. We help to confidentially analyze your needs and existing coverage, survey the available options from our 14 different carriers, prepare a thorough plan and you are under no pressure to buy.

We’re good at this and you will probably improve your coverage and save a lot of money. Call us at 604-241-4357 and ask for Richard or Zinha.