CASE STUDY #1

Combined debt of $1,600,000 with a total mortgage insurance premium of $849.46/month

Husband and Wife (ages 46 and 44 respectively) both healthy with no health issues and non smokers, looked to consolidate all 3 of their properties (Primary Residence and 2 investment properties) mortgage LIFE and Disability insurance into 1 individually owned policy with an reputable insurance company.

SOLUTION FOR HUSBAND
Obtain life coverage in the amount of $1,600,000 to protect the entire mortgage debt for all 3 properties in the amount of $131.60/month.  

SAVINGS:   $247.44/month   |   $2,969.28/year   |   $29,692.80 in 10 years

SOLUTION FOR WIFE

Obtain life coverage in the amount of $1,600,000 to protect the entire mortgage debt for all 3 properties in the amount of $80.71/month.

SAVINGS:   $154.21/month   |   $1,850.52/year   |   $18,505.20 in 10 years

Overall 10 year combined savings of $48,198.00

CASE STUDY #2

Debt balance of $670,000 with a total mortgage insurance premium of $547.00/month

Husband and Wife (Age 43 and 42 respectively) purchased their first home together.  Both are healthy non-smokers with no health history.  They were very discouraged at the monthly premiums offered to protect their mortgage debt with the lender based on their age.  

SOLUTION FOR HUSBAND

• Life coverage in the amount of $670,000 to protect the entire mortgage debt
• 3 years of mortgage payments ($108,000) should he become diagnosed with a Critical Illness and survive 30 days
• $3,000 monthly benefit tax-free to Age 70 should he be unable to work due to an injury as he has no LTD coverage at work 

SAVINGS:   $167.80/month   |   $2,013.60/year   |   $20,136 in 10 years

SOLUTION FOR WIFE

• Life coverage in the amount of $670,000 to protect the entire mortgage debt
• 3 years of mortgage payments ($108,000) should he become diagnosed with a Critical Illness and survive 30 days
• $3,000 monthly benefit tax-free to Age 70 should he be unable to work due to an injury as she has no LTD coverage at work 

SAVINGS:   $110.31/month   |   $1,323.72/year   |   $13,237.20 in 10 years

Overall 10 year combined savings of $33,373.20

CASE STUDY #3

Retired client needing insurance protection passed age 70 with debt of $370,000 still outstanding

Recently retired client (Age 60) has been a long-time loyal customer at his Financial Institution for over 30 years.

He currently has a mortgage debt of $370,000 with mortgage insurance coverage that will be in place until age 70 at which point coverage will expire.  Due to his current financial situation, it is important for him to have protection until he is 75 years old.  The mortgage insurance premium that he had been paying was $320/month.

SOLUTION FOR RETIRED CLIENT

• Provided Life coverage in the amount of $370,000 to protect the entire mortgage debt

• Obtained the Life coverage directly with the same Financial Institutions Life Insurance Division.

• Provided client with coverage up to Age 75 as requested rather than to age 70 with the lender.

• Client now has options to covert ALL or a portion of this coverage into Permanent Life Insurance prior to expiring when he turns Age 75 WITH NO EVIDENCE OF INSURABILITY REQUIRED.

SAVINGS:   $78.00/month   |   $936.00/year 

10 year savings
of $9,360.00

CASE STUDY #4

Client with Extensive Health History declined for Mortgage Insurance with a balance owing of $800,000.

Client (Aged 53) had previous health history of heart surgery at a young age.

He purchased a new home with a mortgage debt of $800,000. He is the sole income earner in the family who provides for his wife and 3 young children. It was a major concern for him to obtain life insurance should he unexpectedly pass away while he has this high mortgage debt. He does not want to leave the financial burden to his family.

SOLUTION FOR CLIENT

• Provided Life Insurance Solution for the client in the amount of $800,000

• Applied with multiple companies to show the client which carriers were willing to insure or decline him due to his health history.

• Client now has life coverage for the next 20 years to complement his current Life coverage provided through his employer benefits.

• Client now has options to covert ALL or a portion of this coverage into Permanent Life Insurance prior to expiring when he turns Age 75 WITH NO EVIDENCE OF INSURABILITY REQUIRED.