Take control of your family’s future and enjoy life.

Planning for the end doesn’t have to feel
like planning for the worst.

Mortgage life insurance provides the peace of mind so your loved ones won’t face any unforeseen financial hardship if the worst should happen.

Plan for the worst so you can enjoy the best.


Why Insure Your Mortgage With Us?

Private Life Policy

Protects your family

Gives you control — you own the policy, choose the beneficiary, and select the type of coverage you want.

Fully portable — your plan will continue when you move and you don’t have to buy a more expensive policy (if you are older).

Provides flexibility — upon death, your family has the option of paying off the mortgage or investing the funds if the economic conditions warrant it.

Offers you a choice of plans and benefits — you choose the type of policy and benefits you want.

Allows shopping for interest rates — upon renewal, you are not tied to one lending institution and can shop around for a better mortgage rate.

Gives you a choice of amount of coverage — you choose the amount of coverage you require and the coverage does not decrease as the mortgage is reduced.

Provides stable coverage — BBI Life plans have built-in grace periods from 30 to 90 days for missed premiums.

Coverage is renewable and convertible — term plans can be renewed after the initial term or can be converted to a permanent plan without a medical.

Expert advice — you deal with a professional insurance advisor and all your coverage can be through one broker.

The Bank

Protects the bank

Policy controlled by the bank — the bank is the beneficiary.

Not portable — protection runs out when the house is sold or traded.

Inflexible — the mortgage must be paid off on death regardless of other investment opportunities.

Limited choices — limited plans and benefits offered and no conversion privileges.

No shopping — unless you are willing to pay a higher premium and are insurable.

No choice of coverage amount — coverage must be equal to the mortgage and decreases as the mortgage is reduced (the price does not!).

No stability — a missed payment often means lost coverage.

Non-convertible

No expert advice — you deal with a banker about insurance matters and your coverage is spread all over.

How a private life policy
could save you money

 

If a homeowner with 21 years left on a 25-year, 4%, $150,000 mortgage dies today without mortgage insurance, 252 future payments of $789 would be required before the house is paid off, a total of $198,836. Had a mortgage life insurance policy been

in force, it would have paid off not only the balance of the principle ($134,788) but would also have eliminated future interest charges of $64,057 which would otherwise have to be paid by the survivor over the next 21 years.

Berk Bilgen Insurance Ltd.
#311 8925 51 Avenue NW
Edmonton, AB T6E 5J3

780.822.6042  780.468.2238
Toll Free: 1.844.822.6042

info@berkbilgeninsurance.com
quotes@berkbilgeninsurance.com

Office Hours
Weekdays: 9:30 am - 5:30 pm
Saturdays: Closed*by appointment only Sundays and Holidays: Closed

DISCLAIMERS

  • Coverage cannot be bound unless you have spoken to a broker and have confirmation; By providing your personal information you are authorizing a background check
  • BBI strongly recommends $5 Million Liability limit
  • Mid-term cancellations will generate fees
  • It is your responsibility to understand and maintain your policy and coverage

CAREERS
We are looking for people with great work ethic, computer and people skills, a great command of the English language and if you fit regardless of insurance experience.

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© 2019 Berk Bilgen Insurance Ltd.