Term life insurance is the most basic of life insurance products in that it has no savings component, and thus no cash value. By the name, it is purchased for a ‘term.’
Term life insurance is the most basic of life insurance products in that it has no savings component, and thus no cash value. By the name, it is purchased for a ‘term.’
Term life can be purchased in many ways. Your employer may offer term life with special terms as a benefit to you and your family. Many affinity groups (alumni associations, professional groups, etc.) offer special products. Although term insurance may be available from many sources, purchasing an individual policy provides the best features and flexibility and often at a better price.
One of the most common uses of Term Life insurance is known as “Mortgage Insurance” which is offered by banks and large financial institutions to provide funds to pay off a mortgage in the event of the premature death of a mortgage holder.
The “Real Deal”
If you want the “Real Deal” on what you get with Mortgage Insurance you may be interested to know that the vast majority of Canadians who purchase mortgage insurance from a bank don’t fully understand what they are getting – and what they are NOT getting.
An investigative report by CBC Marketplace on February 6, 2008: “In Denial”, reveals details about mortgage insurance that few Canadians know about – until it is too late.
WHAT OUR CLIENT ARE SAYING…
“My wife and I have known Bill for over 10 years, working with him in various settings from investments to taxes to even charity planning. It is good to know that Bill has such a great reputation in the community and a heart for serving and helping others. He is sensitive to our particular needs and is a good teacher in helping us to understand a holistic picture of how to handle our finances. We wholeheartedly recommend Bill Thompson for your financial needs, you won’t regret it.”
“It has been an absolute pleasure to work with Bill regarding my short and long term goals. He really got to know me and tailored an overall solution that not only helped me save for retirement, but also to have plenty of cashflow for daily life. Following Bill’s advice has truly given me peace of mind.”
“The smartest move we have ever made financially was signing on with Bill Thompson. The value he provides is not limited to his extensive financial knowledge, but also the passion and the care he shows his clients. You could say that Bill lives and breathes “know your client”, getting to know his clients and tailoring strategies to help them get to where they want to go. It’s been 15 years and we can’t wait to work with Bill for the next 15.”
“Bill is our ‘go-to’ person when it comes to valuable financial advice. We started with very little in our savings, but after 3 years of listening to Bill and being prudent with our money, we have been able to build a tidy amount that just keeps on growing. Can’t say enough good things about him, meet with Bill right away!”
