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My insurance representative tells me it's pointless to shop around because, with a few exceptions, all products are the same. What do you think?

Your representative is 50% right. Certainly, mortgage life insurance products from one financial institution to another offer almost the same benefits; however, premiums are remarkably different. Ask us for a quote and you will be surprised by the savings.

Can I insure someone I don't know?

NO. The fundamental principle of mortgage life insurance is simple. Let's say I insure my neighbour, the question here is: if my neighbour passes away, what will my financial loss be? Of course, the answer is none. This is what is called the insurable interest principle. In this example, there is clearly no insurable interest.

Am I protected if and when an insurance company declares bankruptcy?

Any financial institution doing business in Québec must be registered with Assuris. The amount of protection coverage is $200,000 per person. Visit for more information.

I was refused by an insurance company for medical reasons. Can I be accepted by another company?

Of course! Every financial institution features their own personal risk assessors and selection criteria differ from one institution to another. If you provide us with details of your situation, we can help you.

Why do some insurance companies ask more health-related questions more than others?

Insurance policies are usually designed to contain a number of questions intended to determine the client's insurability. If you had health problems in the past, you will possibly have to answer additional questions and you may even be asked to have a medical exam.

When an insurance policy only contains a few health questions, or even no health questions, that policy may contain more exclusion clauses. The main one being that you are not entitled to receive any health insurance or life insurance indemnity related to health problems that existed before you purchased the insurance.

Can I name more than one beneficiary on my policy?

Absolutely! You must include the percentage of insurance amount you would like to leave to your heirs, after your death.

My spouse is the owner of the policy and I am the beneficiary. Can my spouse change the policy without my consent?

If you are designated as a revocable beneficiary, your spouse can change the policy at any time without your consent. However, if you are designated as an irrevocable beneficiary, your spouse cannot change any aspect of the policy without your signature.

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