Term Insurance

Term insurance is life insurance coverage for a specified period of time. It is meant to cover a short term need and can be converted to a personal life program when your needs changed. This type of life insurance is usually the least expensive form of life coverage, at least initially. After the initial term period of years (usually 10 years) the policy could terminate or it can renew at a higher premium. A renewable term life policy will permit you to renew it at a higher premium.

This type of coverage can give homeowners real peace of mind. In the event that you are not able to continue paying your mortgage, due to death, the lump sum will be paid tax free to the survivor and beneficiary of the policy.

Note that bank mortgage insurance does not pay to you. It may or may not pay the bank or lender. (see article re bank mpp) http://www.cbc.ca/marketplace/in_denial/

Looking for a more cost-effective policy that will give you peace of mind. Let's talk