Life Insurance
Independent mortgage insurance alternative in Calgary. Protect your family, not the bank, with level premiums and portability that bank policies can't match.
Why Do You Need Life Insurance?
Life insurance provides a tax-free lump sum payment to your beneficiaries if you pass away unexpectedly. It ensures your family can maintain their lifestyle, pay off debts, and plan for the future without financial strain.
Common needs it addresses:
- Mortgage and debt obligations
- Child care and education costs
- Ongoing living expenses
- Tax liabilities on your estate
- Leaving a financial legacy
Types of Life Insurance
Term Insurance (Temporary)
Coverage for a specific period — 10, 15, or 20 years. The most affordable option for young families.
- Guaranteed death benefit during the term
- Convertible to permanent coverage without a medical exam
- Premiums increase at renewal
Best for: Young families, mortgage protection, income replacement.
Whole Life Insurance (Permanent)
Lifetime coverage with a built-in savings component.
- Level premiums that never increase
- Cash surrender value you can borrow against
- Potential dividends (non-guaranteed)
- Tax-deferred growth
Best for: Estate planning, guaranteed lifetime protection.
Universal Life Insurance (Flexible Permanent)
Permanent coverage with investment options and premium flexibility.
- Adjust your premiums and coverage as your needs change
- Higher investment potential with more risk/return control
- Cash value accessible during your lifetime
- Can shelter investment income inside an RRSP
Best for: Clients who want flexibility and long-term wealth building.
Term 100
Simple, affordable permanent protection with no cash value.
- Level premiums for life
- Guaranteed death benefit as long as premiums are paid
- No cash value component
- Easy to understand — no investment component
Best for: Clients who want straightforward lifetime coverage at a lower cost than whole life.
Mortgage Protection: Bank vs. Broker
When you buy a home, banks often push “Mortgage Life Insurance.” While convenient, it is designed primarily to protect the lender. An independent life insurance policy is almost always a superior alternative for your family.
| Feature | Bank Insurance | Your Independent Policy |
|---|---|---|
| Who is protected? | The Bank (Lender) | Your Family (Beneficiaries) |
| Portability | Ends if you switch banks | Stays with you for life |
| Payout Amount | Decreases as debt goes down | Stays level (Max Protection) |
| Flexibility | Pays only the mortgage | Family uses funds for any need |
The 3 Truths of Mortgage Protection
- The Bank is the Beneficiary: With bank insurance, your family never sees the money—it goes straight to the debt. With your own policy, your family receives the cash and decides how to use it.
- The Price Doesn’t Drop: Even though your mortgage debt decreases every month, the bank keeps charging you the same premium for less coverage.
- You Lose it if You Move: If you refinance or move your mortgage to a different bank, your coverage usually ends, and you must re-apply (and pay more) at your older age.
Not sure which type is right for you? Maria will walk you through your options at no cost.
Why choose an independent broker in Calgary for Life Insurance?
As an independent broker based in Calgary, Maria Chekmareva works for you—not the insurance companies. By comparing policies from over 15 top Canadian providers, we ensure you get the best Life Insurance coverage tailored to your specific needs and budget, all at no extra cost to you.
Ready for a Life Insurance Quote?
Maria offers free, no-obligation consultations to help you find the right coverage.