November 7th, 2011 | Author: Mitch Reynolds

Assumption Life FlexTerm Great For Your Mortgage Insurance

Assumption Life FlexTerm

Assumption Life FlexTerm offers unique options for life insurance on your mortgage and other debts

Assumption Life FlexTerm is one of Canada’s most flexible and easy to buy term life insurance policies. FlexTerm is a unique term life insurance policy because it offers both life insurance coverage and disability insurance to protect either your debt payments or your overall income.

The structure of Assumption Life FlexTerm is also different from the competition, giving them the edge in many unique circumstances that do not fir the Term 10 or Term 20 life insurance mould so common in Canada. You can also apply electronically for the coverage, which is also easier and often can do it over the phone with a licensed life insurance broker.

Unique design of Assumption Life FlexTerm

Most term life insurance in Canada offers just Term 10 and Term 20 coverage. That is the premiums remain level for 10 or 20 years before the policy renews and the premiums increase. Some companies are now offering Term 30 life insurance, but it is rather expensive.

Assumption Life has 3 terms to offer, a 15 year, 20 year and a 25 year term. The Term 15 and Term 25 are very rare in Canada, and not many companies can offer these odd numbered years for a competitive price. Assumption Life FlexTerm is not only well priced in these markets, but often is the lowest priced option in Canada.

So, if you have only 15 years left on your mortgage or other loan, the Term 15 option could save you money. And likewise, many Canadians still buy a 25 year amortization on their mortgage, so the Term 25 would fit nicely as a replacement for the bank’s mortgage life insurance.

Disability insurance optional with Assumption Life FlexTerm

If you have the bank’s mortgage life insurance and it includes a disability insurance rider to make you monthly mortgage payments if you are off work, Assumption Life FlexTerm can offer the same coverage and more. No longer are you tied to the bank’s mortgage life insurance just because you want to keep the disability insurance protection.

Assumption Life FlexTerm can cover your loan payments, like your mortgage, or it can provide up to $3,000 per month of disability income protection against your income. Coverage is for both injuries and illnesses that keep you from work.

Disability insurance coverage pays out for a maximum of 24 months of coverage for one illness or injury AND a total of 48 months for multiple causes of disability (different illnesses or injuries cause different periods of disability and loss of work). The bank’s mortgage life insurance has only a maximum of 24 months of disability payments that can be claimed for any and all causes of disability.

Easy electronic applications and simplified underwriting

Assumption Life FlexTerm is also a very easy life insurance policy for Canadians to apply for. The application is done electronically. There is a simple signature page that needs to be completed. You can even complete the application over the phone with a licensed life insurance broker who can email of fax you the signature page, and you can either scan or fax the completed form back. There is no need to have a face-to-face interview if all you need is simple term life insurance. Save time as well as money.

Assumption Life FlexTerm also has simplified underwriting for policies of $250,000 of coverage or less. If you need a smaller amount of life insurance then only your answers to the medical questions are required. No nurse will visit – no needles, urine specimens or blood pressure readings. It is simple to apply for and policies can be issued within one week (if the application has no medical concerns on it).

Life Guard Insurance can help you get Assumption Life FlexTerm to protect against your debts

At Life Guard Insurance we can help you get protect yourself from debts quickly and easily. Contact us to find out if Assumption Life FlexTerm might be right for you.

The article was written by +Mitch Reynolds. If you found this article interesting or it made you think, please feel free to share your comments below. Liking us on Facebook, giving us a +1 on Google or Tweeting this article about Assumption Life FlexTerm would be very much appreciated.