Insurance Awareness

Protecting You & Your Family

If you’ve purchased your mortgage life insurance policy from a lender, you don’t own your policy!

Why? Simple. You’ve bought into a group insurance policy.

The following video, produced by CBC, introduces the realities and consequences of applying for insurance outside of a registered insurance broker.

Claims Denied!

Many Canadians are unaware of ‘post-claim underwriting,’ a practice performed by many large banks that misleads citizens into believing they’ve been approved for insurance coverage - when they haven’t. Instead of screening medical records for all applications that are pending approval, the bank only determines if the policyholder is truly fit for coverage after they have passed away – saving money on expensive testing they do not want to conduct for every applicant.

Consumers begin paying for the insurance they believe they have been approved for, and yet, no investigation into their true eligibility has ever been reviewed. In this situation, should a tragedy occur, the bank has more leverage to deny your claim due to any small discrepancy between the application and medical record of the deceased.

Saving You Money

By owning your policy, your insurance plan will cost you less! Yes! You’ll save up to 40%!

Owning your policy also takes control away from the bank, and returns it to its rightful owner – you. You choose your beneficiary, and your money ends up in the right hands.

Protect your family and call Paul Cappuccitti Insurance today at 905-830-0566