JELCO FINANCIAL PLANNING MORTGAGE INSURANCE POLICY
Why insure your home mortgage with Jelco Financial instead of a bank, credit union trust company?
An individual policy can only be cancelled by you.
Your individual policy may be continued as long as you wish. It is a portable plan that can be used to cover any mortgage anywhere.(Statistics Canada report the average Canadian family moves once every 5 years)
Your policy is portable. This prevents the danger of you ever losing the protection because your health has changed. It protects your right of ownership–your insurability.
An individual term policy may be converted regardless of health, usually until age 65
You may purchase any kind of insurance. Either permanent or term insurance; decreasing or level.
You may purchase any amount of coverage you require.
You purchase an individual personal policy owned by you.
An individual personal policy allows the owner to make beneficiary designations. The owner or beneficiary may select any one of several settlement options. In the event of death your beneficiary will receive the proceeds from your policy. Your beneficiary can have the choice of repaying the mortgage or not, thus preventing a hasty decision. **proceeds are protected from creditors.
Because you own the policy you have complete control over it.
An individual policy covering both husband and wife can insure each of them for the same amount. The proceeds will be paid on the death of either one. Should both husband and wife die, the proceeds are paid twice! Also, the coverage on the survivor may be continued to protect family needs. It may be very important to the new breadwinner.
With a personal individual policy you may select the type of plan you wish, the features and provisions you require. The choice is yours!
There are a number of features and provisions which you may add to your policy. You may wish to add a waiver of premium if you were disabled. Or add a disability provision which would replace part of your income should you become disabled. Another option would give you the right to increase your protection, regardless of your health.
You are buying from a licensed professional that can help you in making your decision and explain and offer you a great choice of plans. His or her service in the years to come can be invaluable.
There are no taxes on your life insurance premium.
With Jelco Insurance you can own the insurance coverage.