For many families, a home is one of the most valuable purchases they will ever make, and buying a home is also one of the main reason’s families invest in life insurance. Mortgage insurance, one of the types of life insurance, is an advisable investment as it ensures that your home remains within your family’s possession, as well as ensures that they have the required financial tools to pay bills and have a safety net, in case you are no longer there to earn an income and provide.

What are the Benefits of Mortgage Insurance Plans?

Benefits of a mortgage insurance plan include:

• Much flexibility is offered with a mortgage insurance plans, you can customize your mortgage insurance based around your and your family’s needs, for example:
  • You have the ability to completely own your policy, with benefits payable to whomever you choose, and this can be changed anytime
  • Your insurance policy won’t be cancelled even if you change your home or even refinance your mortgage
  • You have the ability to convert your insurance into permanent life insurance
  • You can customize your coverage term
• Your coverage stays the same and doesn’t decrease, so you can use your benefits towards an income replacement
• When a claim is made, you have the capability of providing your family with assurance as you are qualified for your policy ahead of time
• Premiums WILL NOT increase during your selected term
• You will be provided with protection for your loans, credit lines, and mortgage, all in one coverage

Coverage in the event of a critical illness or disability (25 illnesses covered)

No matter what the circumstances, we strive to protect our family and loved ones from all sorts of danger. We want to protect them, and ensure they are financially stable when we’re no longer there to support them. With life insurance, you can do that. However, what if age and health problems, or even the lack of time get in the way, but you still want to protect your loved ones? What’s the solution to that? Well then, we believe that here at Xeed, we can help you by providing you the option of no medical exam life insurance.

With no medical exam life insurance, you are able to protect you and your family quickly—without all the medical exams.

Getting Life Insurance with a Pre-existing Conditions:

• Cancer
• COPD
• Diabetes
• Depression
• HIV
• Heart Disease
• Hepatitis
• Kidney Disease
• Neurological Conditions
• Stroke

Fully underwritten policies:

• These policies require a full application and is reviewed by an insurance company underwriter before a policy is issued.
• Note: Some companies have policies that don’t require a physical medical test for smaller face amounts (i.e. less than $250,000).

Simplified Issue policies:

• Simplified issue policies don’t require any physical evidence, and only feature a limited amount of very vague medical questions. However, your answers for all the questions must be ‘no’ in order to qualify.
• Simplified issue policies have higher premiums than and can also have reduced benefits. However, with the ease of the application and very broad medical questions, it is suitable for those who have medical conditions that prevent them from a fully underwritten policy. It is also appropriate for individuals who are just looking for an easy and straightforward application process.
• Guaranteed Issue policies:
  • With a guaranteed issue policie, you can obtain coverage with a simple cheque and signature, as there are no medical exams or medical questions required.
  • However, guaranteed issue policies have reduced benefits and increased premiums compared to the various other products.
  • These policies are suitable for individuals who can’t qualify for simplified issue policies.

• Deferred:
  • Through all of the guaranteed issue policies and multiple simplified issue policies, there is a two-year deferral period. Throughout this period, you are covered for ONLY accidental death. Any death occurring sue to medical reasons is NOT covered.

  Indexing:

  • Many of the no medical exam insurance policies have death benefits, that over time, increase by minimal amounts.

Final expense/funeral insurance is designed to pay your beneficiary a benefit amount that is set, if you were to die due to any reason. This insurance provides coverage for Canadian residents anywhere from the age of 18 to 74. Furthermore, there are no medical exams or health questions required to qualify for coverage, and the policy is sustainable until the age of 100.

This insurance plan includes basic life benefits, as well as an additional accidental death benefit.

How are Premiums of This Insurance Calculated?

Both coverage and premiums of this insurance are heavily dependant on age, gender, as well as if you’re a smoker or not. Premiums of individuals with health conditions won’t have their premiums increased based on absolutely any present of past conditions.

Benefits of Final Expense/ Funeral Insurance

• Your application will not be denied —as long as you’re a Canadian resident anywhere between the ages of 18 to 74
• There’s no citizenship required. As long as you’re a Canadian resident, you’re good to go!
  • No SIN number is required. So if you’re a newly landed Canadian resident, you’re still eligible.
• You will sustain guaranteed coverage until the age of 100
• No appointments will be required to apply for this insurance. You can complete your entire application from the comfort of your own home.
• If you’re not completely satisfied with your policy, you can cancel and receive the refund of all premiums within 30 days.
• You will be provided with tax-free benefits
• With benefit from accidental death coverage, your family will be provided additional protection with no extra costs.