Buying
a Home

Adulting. It’s the mint chocolate chip of life. Take that however you want.

Anyways, buying a home is a huge decision and milestone. If you’ve recently bought a home, or are planning to buy one. There are a few things to consider before you purchase your entire Etsy cart. 

As a homeowner, you have so much to look forward to: renovating the kitchen, avoiding the neighbours, creating memories that your loved ones will cherish for the rest of their lives, etc. That's a future worth protecting—and that's why a CL customized solution makes so much sense. 

Protection for the Early Years of Home Ownership 

 Term life insurance offers customizable short -term and midterm protection — so that you can afford maximum protection when your mortgage balance is highest.

Long Term Solutions for Your Mortgage 

 81% of adults agree that buying a home is the best long-term Investment in Canada. With that in mind, it is important to protect this investment for both the short and long term. Traditional mortgage protection, is typically not portable and not as flexible as a life insurance policy.

Tips for protecting your family’s home and future

1Give yourself time to rebuild your emergency fund.
If your down payment came from savings, you may need additional protection while building it back up.
2Mortgage payments are just the beginning.
Be sure to factor in other expenses such as property taxes, utilities, and maintenance fees.
3Lenders like cash value.
Should you ever need to refinance your home, banks consider the cash value of life insurance an asset.
4Traditional mortgage insurance is NOT portable.
If there’s a chance you will move, make sure you can take your mortgage protection with you. Most of the time, you can’t. Which is why a term policy is something to consider when deciding how to protect your home.
5Traditional mortgage insurance pay directly to the lender.
In the event that you pass away, it is smarter to leave the benefits directly to your loved ones, so they can decide how the money is used. Traditional mortgage insurance will bypass your family, and pay directly to the lender. This is certainly something to consider.