How it Works Mortgage Insurance Worksheet Mortgage Protection Sample Policy Mortgage Insurance

Case Study : Meet John

John, 42, purchases $250,000 of Insurance. Eight years later he's injured, can't work and claims a monthly benefit on his disability insurance policy.

Jason's claim

  • Jason's monthly disability benefit is 0.5% of $250,000 = $1,250.
  • Over the course of his time off work, Jason receives monthly disability benefits totaling $22,500.
  • Jason's available amount of insurance is now $227,500.
If Jason dies before his Insurance expires at age 65, and makes no other claims against his Insurance policy, the death benefit for his life insurance policy is 100% of his available amount of insurance, or $227,500.

Future protection option

At age 65, Jason has the option of converting his remaining available amount of insurance - $227,500 in this case - to a permanent life insurance policy, with no medical underwriting required.*
The amount of permanent insurance you can purchase - without medical underwriting - is limited to your remaining available amount of insuranc
* This option is not available if you have received a critical illness covered condition benefit.

Meet Lisa

Lisa, 38, has just returned to work after spending a few years raising her two young children. She buys $300,000 of Insurance. Ten years later, Lisa is diagnosed with a covered critical illness. Lisa claims a covered condition benefit on her critical illness insurance policy.

Lisa's claim

  • Lisa's covered condition benefit is 25% of $300,000 = $75,000.
  • Lisa's available amount of insurance now becomes $225,000.
If Lisa dies before her Insurance expires at age 65, and makes no other claims against her Insurance Policy, the death benefit for her life insurance policy is 100% of her available amount of insurance, or $225,000.

A second claim

If Lisa makes a disability claim prior to age 65, she is eligible to receive a monthly disability benefit.
  • Lisa's monthly disability benefit is 0.5% of $300,000 = $1,500.
  • If, over the course of her time off work, Lisa receives monthly disability benefits totaling $12,000, her available amount of insurance now becomes $213,000.
  • This new available amount of insurance become's Lisa's death benefit should she die before her Insurance Plan expires at age 65.
House Mortgages
Mortgage Protection Plan
Who it is for?
How it works?
How does it benefit me?
Why it works?
Additional benefits
Coverage Calculator
See yourself
Quote Now
Apply Now
Mars Empire Group Inc is a BBB Accredited Business. Click for the BBB Business Review of this Insurance Companies in Etobicoke ON

         Delin Xu, Edmonton AB         William & Dorothy, Sarnia ON 
"Your service was outstanding, You made shopping for insurance a breeze. Thank you so much!"
"I had been turned down time after time.....Life Insurance Advisors got a policy for me at preferred rates...Thanks"