Corner Brook Life Insurance
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Life & Mortgage Insurance Corner Brook.
Discover the Advantages & Disadvantages of Life & Mortgage Insurance Life Insurance
Having the right life insurance coverage in place can make a big difference in the lives of your loved ones in the event of your premature death. Corner Brook Life Insurance can offer you a tailored solution to your individual needs for term insurance or a more permanent solution. Term Insurance Term insurance, which in general comes in Term 10, Term 20, Term 30, and more, is used for a time in your life when greater protection is required to cover specific items like:
Permanent Insurance
Permanent insurance can be used as a retirement tool for whole life coverage that builds cash values that can be used later in life while universal life Insurance can be a tax efficient way to have life insurance with an investment component. Both term and permanent insurance can also be combined together as a tailored solution. Permanent insurance can also be paid up in 10, 15, or 20 years, but the coverage is for lifetime. This is good for retirement planning. For example, if you take out a Life Pay 20 for $100,000 at age 40, there are no more premiums, but you have that $100,000 coverage for the rest of your life. Good deal, correct? Life insurance gives you peace of mind coverage knowing that your loved ones will be taken care of with a lump sum, tax-free benefit. Mortgage Insurance
Getting the right mortgage life insurance can mean the difference between keeping your dream home or losing it because you didn’t have the right mortgage insurance in place. Unlike many bank-issued policies that are intended to protect the bank’s interests, a personal life insurance policy protects you – after all, you are the one paying the mortgage payments. Bank-issued mortgage insurance is intended to pay off the balance of your mortgage, and you have no control over where your payout goes. On the other hand, a personal life policy is paid out directly to your loved ones, and they decide exactly how to allocate the proceeds. However, there can be many pitfalls associated with bank mortgage insurance that many consumers simply aren’t aware of. What the banks don’t make clear is the numerous advantages of term life insurance when compared to bank mortgage insurance. Example Scenario Mr. and Mrs. Jones purchased a mortgage insurance policy from their bank when they bought their new home. Unfortunately, a couple of years later Mr. Jones passed away. The bank immediately forced Mrs. Jones to pay off the entire mortgage balance with the proceeds of the Bank Mortgage Insurance Policy, even though Mrs. Jones has many other pressing needs for these funds and is not sure how she will manage (e.g. the home is in need of major repairs, tuition fees for the children’s education are due to be paid, funeral costs must be paid, and day to day expenses are building up). It would have been especially advantageous not to pay off the entire mortgage if they had obtained a low interest rate. CBC’s Marketplace highlighted some of the hidden dangers of mortgage insurance. We invite you to watch their eye-opening report entitled “In Denial.” 3 Reasons to Choose Corner Brook Life Insurance
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Medavie Blue Cross™ The most trusted name in Health Insurance for over 70 years. 
Experience and Knowledge = Right Plan
Discover why so many Newfoundlanders and Labradorians have put their trust in Corner Brook Life Insurance for their Blue Cross Health Insurance needs and continue to refer us to their families and friends, and for good reason! We are here to Help You: Help You– gather information on health insurance. Help You – with expert advice to choose the health insurance PLAN that makes the most sense to you and fits your lifestyle and budget. Help You – obtain quotes Help You – with the application process Help You – manage your plan, once it has been put in place. We are always here for you! Local advisors – right here in your community – here to Help You every step of the way. |
Explore Our More Popular Services
Investments
At Corner Brook Life Insurance we offer a
variety of Investment products that we tailor to your individual needs to help with estate and retirement planning. 
Medavie Blue Cross
At Corner Brook Life lnsurance, you have found one place to get information on Medavie Blue Cross health insurance plans, to help you choose the best plan for you
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Life Insurance
We have you covered with Life, Health,
Mortgage, Disability, Travel Insurance and a lot more at Corner Brook Life Insurance. 
Health Insurance
With the help of Corner Brook Life Insurance, you can apply now for health insurance while you’re healthy.
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Specialty Services
We got you covered with RSP Loans, Commissioner Of Oaths, Wills and Power of Attorney and more.
Mortgages
Let Us at Corner Brook Life Insurance help you get the best possible mortgage solution that is right for you.
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