FlexOptions

A Life Insurance to Protect your Mortgage

In the event of your death or disability, your mortgage may suffer drastically. You want to protect your mortgage and your investment, don’t you? You need a robust and adequate insurance coverage to ensure adequate protection. This is precisely what FlexOptions is designed for. This coverage also covers other long-term loans and gives you the leverage to take care of your family in the event of your death or disability.
With Assumption’s FlexOptions, you just have to name the beneficiary who will take the decision whether to pay off the mortgage or to use the money for other financial obligations.
Furthermore, the coverage is flexible and affordable, it is designed to meet your needs and that of your family. Life insurance coverage of $499.99 or below does not require any medical exam for qualification.

Features and Benefits

FlexOption is for Canadians between the ages of 18 and 65 (both inclusive). In the event of loss of work as a result of injury or illness, the plan will provide a monthly disability income up to $3,500. In addition, the premiums for this plan will remain the same throughout the contract and you don’t even need a proof of mortgage for this plan.

  • The plan includes three terms namely, 15, 20, and 25 years.
  • It is for individuals between the ages of 18 and 65.
  • The enrollment in life insurance coverage of $499.999 and below does not require any medical exam.
  • You can get a monthly disability income benefit up to $3,500 if you become disabled due to injury or illness which results in loss of work.
  • The premiums for this plan remain the same through the contract.
  • You can convert it to a permanent life insurance policy.
  • The insurance amount for this plan will never go below 50% of the initial coverage amount.
  • A proof of mortgage may not be required in most cases.

 

 

Additional resources

Learn more about other life insurance options from these informative articles.

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