Life Insurance policies and options

[takethebounce]

So on our previous mortgage we had "bank" provided insurance but the premiums have increased drastically for their support and as I (we) get older I want something more permanent not tied to a mortgage for insurance.

I have looked at the regular non mortgage bank options, the Sunlifes, CoOp, and some online ones. One that peaked my interest was https://www.cpp.ca/no-medical-simpl...mplified-elite-t100-permanent-life-insurance/ as it covers extreme sports enthusiasts which many plans do not. Of course none of us ever have plans to leave our life situation early but **** happens.

I have met with some brokers, the options are endless. Basically looking for what some of you feel works well for you and what you would steer clear of. Right now I am leaning towards a Term rider/portion for basically mortgage and other debt protection until I am of mortgage free age then a permanent portion for those end of life expenses that my family will not have to cover.


Any insurance experts care to weigh in?

 

[Bnorth]

Following.

 

[posnick]

Im with London Life...Through a broker. I am covered for extreme sports and believe it or not, suicide after the policy was in place for 2 years. I have enough to cover everything plus a bit for my kids. My GF had a policy added to hers. an extra 20K for her entire life. As you said to help cover the cost of the funeral. Very cheap for her because of when she got it. She pays $144/pr yr...That is cheap for that addition. I inquired into it when I renewed mine and was quite expensive. The way I see it is my policy already covers enough. Everyones views and finances are different but definitley ask the questions. Mine will payout within 5 days after providing the death certificate.

 

[S.W.A.T.]

We have a couple different policies. I always joke around being worth much more dead then alive. Lol.

We took term coverage through Hollis Wealth