William BallWilliam BallWilliam BallWilliam Ball

Financial Advisor (416) 721-9023

wball@macleanfinancial.com

Family business with over 40 years experience - Registered Ontario Investment/Insurance Brokers

Look to us for all your Financial Needs

Should You Own a “Custom Designed” or buy a “Bank/Lender Controlled”

Mortgage Insurance Protection Program • If you purchase a “Custom Designed” Mortgage insurance program through MacLean

Financial, YOU OWN & CONTROL it: the amount of protection you want, the time period you want it fo, etc … whereas the Bank/Lender programs, they set the amount & time period and they can cancel the coverage at any time..

• With a “Custom Designed” Mortgage insurance program through MacLean Financial, YOU

control the amount of coverage you wish to buy (more or less than your mortgage is worth; you decide) … with Bank/Lender programs the coverage amount reduces as you pay down your mortgage (only pays out the amount left owning on your mortgage) and it is paid to the lending institution (there may still be bank charges or legal fees charged to your estate or heirs).

• A “Custom Designed” program through MacLean Financial provides you flexibility to alter your

coverage no matter where your mortgage is (Transferrable) … whereas “Bank/Lender Institutionally Controlled” programs are non- transferable; if you move your mortgage to another institution you must re-apply for insurance protection.

• Your “Custom Designed” program through MacLean Financial allows you to shop the insurance

marketplace (dozens of Insurance Companies) for the most suitable plan & rates available to YOU … With lender issued coverage, you are restricted to only the plan offered by that lender,

• A “Custom Designed” program through MacLean Financial is available to everyone … Bank/Lender controlled programs have more restrictions (ie: some age groups or certain health issues may not qualify to obtain any coverage)

• A “Custom Designed” program through MacLean Financial may be set up to cover the lives of

a single person or a couple and can pay out on each life or on the first (or last) to die… whereas Bank/Lender controlled programs may be set up on a couple but only pay out on one life. This could leave a surviving partner WITHOUT COVERAGE. .

• With Our “Custom Designed” programs you have the entire MacLean Financial Team of

professionals available to answer your questions and service your programs into the future …

• Please take the time to watch this 5 min video from CTV;

http://www.ctvnews.ca/video?clipId=393945

William BallWilliam BallWilliam BallWilliam Ball

Financial Advisor (416) 721-9023

wball@macleanfinancial.com

Family business with over 40 years experience - Registered Ontario Investment/Insurance Brokers

Look to us for all your Financial Needs

COMPARE: Should you Own a “Custom Designed” Mortgage Insurance Plan?

TRUST COMPANIES, CREDIT UNIONS AND

BANKSMacLEAN & MacLEAN FINANCIAL GROUP INC.

1 Little control over group policy specifications. 1 An individually owned policy provides total control.

2 Offer one company's group product. 2 We shop the market for the best rates and features to

suit your needs.

3 Insurance limited to mortgaged amount applied for. 3 Clients decide on the amount and the length of time

the coverage is required.

4 This insurance decreases with the mortgage balance

owing.4

Integration with other policies can maintain values as

desired.

5 Insurance coverage cancelled when mortgage loan or

plan terminates.5

Client decides when to cancel. Policy portable for

other uses.

6 Client can not designate beneficiary. Insurance

proceeds go to the Lender.6

Clients select beneficiary and insurance proceeds can

be used for any purpose.

7 This term insurance is not convertible to any other

type of insurance plan.7

Term policy may be converted regardless of health, up

to age 65.

8 Claims paid out on one life only, even if both spouses

are insured.8

Both spouses can each be insured for the same

amount, or custom amounts and claims payable on

each life insured.

9 This coverage does not provide cash values. 9

Policy can be designed to provide cash values (this

could provide a lump sum to pay your mortgage off

early).

10 Banks interested in protecting their security only. 10 We are interested in making a positive difference in

the Financial lives of our Clients.

Our personal mandate is to help you and your family make more intelligent decisions with your money by providing

you access to information and solutions in a comfortable and easy to understand manner.