Financial & Life Insurance
Term & Whole Life Insurance
Term & Whole Life Insurance products are the staple of the life insurance industry and are likely the products that you have explored in the past. But has anyone ever explained the differences between the two and why one policy may be better than the other?
Call Reeds Insurance today to speak with our Life Specialist who can alleviate any confusion and arrange for a policy that fits. It's why our customers stick around!
Did you purchase mortgage insurance through your bank when you arranged for your mortgage? Many people do and, frankly, this policy benefits the bank - and offers very little benefit to you.
When you purchase the bank’s mortgage insurance, the bank is named as the beneficiary. In other words, the bank is the only party that can receive the benefits of the payout. Additionally, the amount of the payout is limited only to the principle remaining on your mortgage, which means, over time, the actual amount that is insured reduces as you pay down your mortgage – with no corresponding reduction in the premiums you pay! At Reeds Insurance, we can offer mortgage insurance that works to your benefit. You will have the option to name your beneficiary, whomever that may be. It could be the bank, or more likely it will be a child, a spouse or a close friend. In the unfortunate event that the policy provides a payout, the beneficiary would be entitled to the full amount of the original policy (not a reduced amount as in the bank’s version). Your beneficiary would then pay off the outstanding amount of the mortgage and the remaining amount of the claim payout would then be available for use at their discretion.
If you’re interested in Mortgage Insurance, it’s evident that Reeds Insurance’s policy works in your favour – but at what cost? Believe it or not, our mortgage insurance policy is, in most cases, the least expensive option of the two. That’s because we are able to provide the most competitive pricing from all of our insurers and not just the one that your bank can offer – which is another reason why more and more customers choose Reeds Insurance.
A Group Plan is an employer-sponsored benefit plan, tailored to meet the needs of the plan’s members. Group Plans can include everything from Drugs and Dental to Life Insurance and Accident and Sickness Coverage. Business owners are encouraged to discuss these options with us, as they are essential tools for employee recruitment and retention. In addition to providing plans for business owners and their employees, we can assist individuals who don’t otherwise have access to these products. If you are interested in a Health Plan or Disability Insurance and coverage is not available through your employer, we can customize a plan that suits your lifestyle.
Other Life Insurance Products
In addition to our standard Life products, there are many offerings that you may not be as familiar with, such as Critical Illness Insurance (CI). CI Insurance is becoming very popular, as more illnesses are being diagnosed and treated. A Critical Illness policy pays a specific benefit (ie. $50,000) upon the detection and survival of a specified illness, such as cancer. The waiting period that must be survived is usually 30 days. This is a "no strings attached" payout so you can use the money any way you see fit – to take a family vacation, to pay bills, or to seek cross- border medical care. There are many ways to protect your investments, your property, and the financial stability of your family. Life insurance products are just part of the big picture. Call our office today and find out why so many clients trust our Life Advisor with their insurance needs.
Our mortgage division is handled through our sister company, Reeds Financial Inc., specializing in commercial mortgages throughout Ontario.
We offer competitive terms and conditions and cater to properties that the banks generally do not wish to provide mortgages for.
If you would like additional information about our services, please contact Brian Reeds directly at 1.800.307.7066. Alternately, you may contact Brian via email by clicking here.