- May 25, 2010
- Posted by: Brian Poncelet
- Category: Approved
When you buy life insurance through Canadian Tire you lose in many ways.
One: you pay too much! As an example, a 50 year old male non-smoker, with $250,000 coverage pays $92/month…and this goes up every 5 years!!
With other companies like Equitable you can get more coverage – e.g. $300,000 level premium for 10 years which costs about about $52/month!
How about this: 30 year old male, non-smoker, $250,000 coverage – with Canadian Tire $42.63/month
Other companies: 30 year old male, non-smoker, $300,000 coverage – with Empire, Transamerica, or Canada Life (direct through me) costs between $20 to $21/month for ten years!
Two: You buy through a middle man!
Three: You can not convert the term into permanent!
Four: They cut you off! At age 71 they reduce your coverage by 20% a year and by age 75 it’s gone! Thanks for your money!
Five: You can’t use their Canadian Tire money for the policy! (sorry, I just had to say it).
There are plenty of better options – contact me for a policy that’s a much better fit!