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Term Life Insurance

The word “term” here is significant. It designates the duration of this type of insurance contract. It includes a guaranteed renewal clause. It is renewable at the end of the contract’s duration/term which is generally calculated in five year segments or 5, 10, 15, 20, 25, 30 or 35 years. Moreover, the amount of the premiums is revised upwards as the end of the chosen term nears.


This product is ideal for business people, single persons, couples or young families. It provides coverage for projects over a specified term, while offering protection for the holders and the people around them, at the lowest cost possible. This product is often used to cover a mortgage, a loan or a credit margin.

  • It should be noted that term life insurance is not usually offered to people aged 75 and over, but this may vary depending on the insurance company. It is therefore essential to shop around before making a decision.

The benefits:


  • It is affordable.
  • It has a guaranteed renewal clause.
  • It can be converted into permanent life insurance without proof of insurability (medical exam or other), generally before the age of 65 or 70, depending on the institution. 


The disadvantage:


  • The premiums increase significantly with each renewal, or at the end of the chosen term.

Mortgage Insurance

Our mortgage insurance offer

  • You can trust the information we give you because we are not affiliated with any insurance company and we do not encourage any one particular company. In this way, we avoid any possibility of a conflict of interest.
  • We will give you advice and answer your questions:
  • Should you purchase disability insurance, life insurance or both?
  • How much of your mortgage should you cover?
  • What are the benefits of purchasing mortgage insurance through an independent underwriter instead of your mortgage lender?
  • Our online quote request form is simple and only takes a minute to complete.
  • During our business hours, we will answer your request for a quote in less than 30 minutes.


What you will gain with us

  • You, and not your mortgage lender, will be the owner of your insurance policy.
  • You, and not your mortgage lender, will designate the beneficiaries of your insurance policy.
  • You will be certain that you have obtained the best market price for your insurance because we guarantee it.
  • You will save thousands of dollars on your loan.
  • You will be protected because you purchased your life insurance from an advisor registered by the AMF and the FSCO.

There is no better mortgage insurance than insurance provided by an independent underwriter who also guarantees the best rate on the market.

The benefits of doing business with us

  • You will be free to name the beneficiaries of your choice, which is not the case when you purchase mortgage insurance from your financial institution. In this case, your financial institution is the sole owner and beneficiary of your mortgage protection.
  • We GUARANTEE you the best rate on the market in Québec!
  • Your request can be completed very quickly online.
  • You will receive an answer very quickly.


Who are our insurance advisors?

  • Our advisors are registered by the AMF and the FSCO.
  • Our advisors are independent, which means they are not affiliated with any bank, credit union or life insurance company.

Critical illness insurance

Critical illness insurance

This type of insurance will provide you with a lump sum, tax-free, following a critical illness diagnosis. It allows you to focus entirely on your recovery without having to be preoccupied with your financial burdens caused by your illness.


Who is it for?

Anyone afflicted with a critical illness and wishes to cover their financial needs. To benefit from this, however, you need to be in good health when signing up.


Benefits

You’ll get a tax free lump sum 30 days after the critical illness diagnosis. This payment can be used in any way, without any restrictions.

37 Diseases covered


  • Critical illness
  • Aortic surgery
  • Aplastic anemia
  • Acquired Brain Injury (ABI)
  • Benign brain tumor
  • Blindness
  • Coma
  • Coronary artery bypass grafting (CABG)
  • Deafness
  • Dementia including Alzheimer’s disease
  • Dismemberment
  • Heart attack
  • HIV contracted at work
  • Life threatening cancer
  • Loss of autonomy
  • Loss of speech
  • Motor Neuron Disease
  • Multiple sclerosis
  • Parkinson’s disease and atypical parkinsonian syndromes
  • Paralysis
  • Renal failure
  • Purulent meningitis
  • Repair or replacement of a heart valve
  • Severe burns
  • Stroke
  • (Transplant) Vital organ failure while waiting for a graf
  • (Transplant) Vital organ graft






Children’s diseases


  • Autism
  • Cerebral paralysis
  • Cystic fibrosis
  • Congenital heart disease
  • Congenital heart disease requiring open heart surgery
  • Muscular dystrophy
  • Type-1 Diabetes


Partial benefit for critical illness (15%)


  • Coronary angioplasty
  • Ductal carcinoma in situ of the breast (stage A)
  • Prostate Cancer in Stage A (T1a or T1b )
  • Stage 1A malignant melanoma


Benefits


  • You’ll get a tax free lump sum 30 days after the critical illness diagnosis. This payment can be used in any way, without any restrictions.









  • Autism
  • Cerebral paralysis
  • Cystic fibrosis
  • Congenital heart disease
  • Congenital heart disease requiring open heart surgery
  • Muscular dystrophy
  • Type-1 Diabetes


Partial benefit for critical illness (15%)


  • Coronary angioplasty
  • Ductal carcinoma in situ of the breast (stage A)
  • Prostate Cancer in Stage A (T1a or T1b )
  • Stage 1A malignant melanoma


Benefits


  • You’ll get a tax free lump sum 30 days after the critical illness diagnosis. This payment can be used in any way, without any restrictions.


Permanent life insurance

Permanent life insurance, also called whole life insurance, covers the insured during his or her entire life and makes provision for a payment to the beneficiaries at the time of the insured’s death, whether accidental or not.

In some cases, it includes a savings element called “cash surrender value.” It corresponds to the amount collected by the insured if the insurance contract is terminated. The cash surrender value can be used to borrow money or to keep the policy in force (pay the premiums). Permanent life insurance can be paid over a chosen period of time, 10 years, 15 years, 20 years or over the lifetime.

It is important to be careful with this type of contract. In fact, some financial institutions offer permanent life insurance policies with stock yields or with dividends (policy dividends), also called surplus, and promise that if the rates remain the same, you will no longer have to pay/OR you can cease payment after a certain number of years and will remain insured throughout your life.

If you are interested in limited-pay whole life insurance, make sure that it is guaranteed. If such is the case, it will be indicated on the first page of your contract that the policy will be paid up at the end of your chosen payment term.

Permanent life insurance is an excellent idea for those who want lifetime protection, without an increase in premiums.

By completing the request for quotation you are giving explicit consent for an advisor of BGM Financial Group to contact for the purpose of explaining and proposing products and concepts for which you have requested


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