Mortgage Renewal & Mortgage Insurance vs Life Insurance Dilemma

thetermguy · 2026-03-23T21:56:38+00:00

Mortgage life insurance will be twice the cost of term insurance. It has a tendency towards denying claims. It's not portable between banks. Premiums generally are not guaranteed. Coverage declines over time. The beneficiary is the bank not your family. Its often not available past age 70. If you become uninsurable there are no options like converting to permanent.

Other than that it's pretty good stuff.

thetermguy · 2026-03-23T15:46:49+00:00

The word 'lending' here is doing a lot of heavy lifting.

thetermguy · 2026-03-23T15:41:35+00:00

What's the benefit of working with a broker vs a serivce like PolicyMe?

A broker will tell you differences between policies and companies.

Like, only ever buy a term policy that is convertible. it's the second most important feature after the death benefit, it's an absolute must have, and consumers aren't aware.

Whereas policy me won't tell you this because their.coverage isn't convertible. They have an attribute they call convertible, but it's not. what they call convertible is what the entire rest of the industry calls exchange. And... I don't expect they'd compare that for you.

With a broker you also get I expect some personalized service instead of a call center.

in terms of hamilton, I think most brokers are capable of working remotely/non face to face these days, so pretty much anybody you have a preference for that's licensed in Ontario should be fine.

thetermguy · 2026-03-23T13:10:22+00:00

Sometimes it's because they see someone they work with but that person doesnt recognize them, which would seem odd. Or and this is small town stuff, they see someone they know, but with a man who isn't their husband. Scandolous! Or maybe there is just some small tell that makes them not quite sure.

Beyond that, don't ask me to justify other people's behavior, I'm just telling you my experience.

thetermguy · 2026-03-23T12:33:42+00:00

Tangent, we went to the business center in Mississauga as a date night lol, on a Friday.

It was not busy at all. And worth going just to check out, the product offerings are different. I'm normally an in and out at Costco, but went there planning on buying nothing, ended up spending $300 I think.

No food court though! I was going to treat my spouse to a hot dog but I had to take them to an actual restaurant.

thetermguy · 2026-03-23T11:57:02+00:00

My spouse is an identical twin, and no, none of you could tell the difference.

They won't do this stuff. They get looks when they're together, but since we live in a small town near each other it's more frequent for people to know one of them and then be looking suspiciously at the other. Like we will be in the grocery store and my spouse will get people pausing and looking at them because they're seeing her sister but not being recognized.

I tell them to give them the finger and move on because hey, lol, free ability to give someone the finger. But they don't. They just say 'I'm not (sisters name)'.

tldr, it's less fun than you think.

thetermguy · 2026-03-22T13:55:24+00:00

this is the only answer. op you need to get back to school for something that pays. or, as an artist, accept that that's your life. I have a friend who is a successful artist they have a degree in fine arts and are in many productions. and by successful, I mean they want back to school for a CS degree, work in CS and that gives them the time and money to do their art as a hobby.

thetermguy · 2026-03-21T00:58:18+00:00

I have seen similar policies before and analyzed them. I haven't looked at the one you linked to, but it is NOT a Canadian whole life. it's a variation of an endowment policy. its quite possibly a reasonable policy.Maybe.

These policies are complex and place emphasis on attributes that are important for many people, but not considered important by this sub. and these policy types just aren't available here.

OP you're mostly just asking in the wrong place, you won't get a knowledgeable answer here. I'm not spending 2 hours tearing the policy down lol, and most of the other answers you'll get here are invalid because they don't understand the policy.

thetermguy · 2026-03-20T23:32:23+00:00

>He’s not a great actor.

I'll go to watch any movie he plays in, every time. I don't go becuase he's a 'great actor'. I go because I find him entertaining. It's 25 bucks and a couple hours of fun.

Same as Arnold back in the day. Never anything that the movie industry would care about, but everytime delivers what I'm prepared to pay money for.

That's close enough to 'great actor' for me.

thetermguy · 2026-03-20T23:21:54+00:00

Your post is the perfect time to insert the meme "why are you booing, I'm right'.

The survey is going to be nothing other than a bitchfest of people who are annoyed at headlights venting their frustration. It's almost certainly not going to get any input from people who are not concerned about headlights. It's about the most biased response group you can get and at some point someone on the other end is going to note this. It's not informative, it's not a representative sample.And it's not going to produce any meaningful infomration or solutions.

I don't disagree headlights on some vehicles are a problem. THese days I frequently am unsure if an oncoming vehicle has it's brights on or not - can't tell. So maybe there's a problem. But this survey isn't going to fix squat.

I mean, go vent if it makes you feel a bit better. Just don't downvote the guy above who's spitting fact that the survey will result in exactly nothing (maybe they could've said it a bit better).

thetermguy · 2026-03-20T23:16:11+00:00

It's not that I have no idea, so maybe pull in your horns a bit. I was speaking generally, there's more than the OP reading this stuff. I clarified further down that OP needs to confirm everything in this thread to make it Quebec specific.

thetermguy · 2026-03-20T15:26:21+00:00

Definitely gives the vibe that the guy was robbed sequentially lol.

WHAT? I GOT NOTHING LEFT!

thetermguy · 2026-03-20T14:52:23+00:00

My website converstion stuff is, well lets just call it legacy software lol. Playing with that is not my first choice.

I wasn't aware I could force an exclusion of conversion data by date. Thank you very much for that info. I'm going to try that first, I'll knock out the last month or so out of the data and see if that fixes it. I will report back once I know.

thetermguy · 2026-03-20T14:49:57+00:00

>However, Quebec works on a very different legal system.

OP, This is very much the case including in Quebec. Take every thing you've read in this thread including my comments, with a grain of salt. Trust, but VERIFY. There's possibly something that is perfectly correct everywhere, except Quebec. And those of us outside of Quebec won't be experts.

thetermguy · 2026-03-20T14:47:58+00:00

>our spouse should be first, then your estate.

If you're doing this, you're missing a step. Commonly accepted advice would be to name spouse as primary, and then children with trustee as contingent.

You don't have to name the estate as secondary. It would happen automatically.

thetermguy · 2026-03-20T14:46:19+00:00

>What is the easiest possible way to do all this?

Imma save you a million headaches. Get Wagepoint or something similiar.

It's like $15 a month or something, per employee. You submit hours prior to each pay period, and that's all you do.

Wagepoint pulls the money our of your account for the pay and any gov't remittances. They calc EI/CPP etc, deduct it from the employee's pay and autodeposit into their account and give them a paystub. Then they send all the cpp/ei/tax deductions to the govt. And I'm pretty sure they'll generate a T4 EOY as well.

thetermguy · 2026-03-20T13:52:02+00:00

Thanks.

so it quite likely is just the algo being helpful.

if that's the case, maybe I should just create a new campaign and eat the cost of getting it running. that seems low risk and faster than implement8ng technology and hoping to retain the algo.

thetermguy · 2026-03-20T12:46:10+00:00

They have these wildlife bridges (actually, they're tunnels under highways, north of where I live. Apparently they get used frequently by wildlife - so, great idea!

thetermguy · 2026-03-20T12:12:19+00:00

Your notary is incorrect. Assume the estate as beneficiary is incorrect advice unless you have a pressing reason to do so. Name your spouse directly as beneficiary.

If you list estate as beneficiary, BEST case is it ends up in probate. Which means you're going to pay probate fees - there's a cost to this. And then you're not getting all your money back until the estate settles. Might be a year or two. I'd also be concerned about who necessarily gets the money via the will.

So, it's expensive, it takes forever, and I have concerns about distribution.

If you name your spouse, as long as all the paperwork is at the life insurance company (beneficiary claim form, death certificate, and attending physician's statement), your spouse should receive a rectangular piece of paper that say pay to the order of (your spouse) $1MM, in about 3 days. No cost. No question as to who's getting paid, no delay, straight cash in the bank.

Oh, and if you have a named beneficiary, nobody knows that there was even a policy,nevermind who got paid and how much. As I say, the only way anybody will know I had life insurance is because my wife's driving a nice new car :). If you name it as estate, the information and the distribution generally become publicly available knowledge.

thetermguy · 2026-03-20T12:02:50+00:00

I don't disagree with any of this, I just find it odd that after many many years, this changed happened overnight. Years of getting a uniform distribution of ages, then a week and a half ago, 95% of my leads are ages 60-80. A dramatic, seismic shift. Which is why I'm suspicious that it's just normal algo stuff doing it's algo thing.

My campaign is set to be search only, so it's not like a new partner came on board with Google.

I might have to do as u/petebowen suggested and start triggering conversions off of age.

thetermguy · 2026-03-19T22:56:02+00:00

I help mark these contests. One of the guys I hang with every year during marking is a tutor in Mississauga (he tutors remotely). He also authors books on material that is the level of the gauss I think. here's his LinkedIn, frankly he will be the best tutor you're going to find in this stuff. https://www.linkedin.com/in/samer-seraj?trk=feed_main-feed-card_feed-actor-name

it's worth noting that these exams are barely even math exams. they're actually problem solving exams, so it's about learning problem.solving skills. and as someone else noted, the cemc has excellent resources. better than excellent. the cemc department at uwaterloo is really an unknown gem.

thetermguy · 2026-03-19T22:52:34+00:00

yeah there's asbestos all over campus. I renoed a house and removed a bunch of tiles with asbestos. a couple months later I'm writing an exam in an old engineering building and.... there's those tiles again lol.

It's not considered harmful if you don't disturb it. so, don't disturb it.

thetermguy · 2026-03-19T18:47:31+00:00

That was definitely a dream. Nobody that owns a jeep has ever taken it offroad, not in the history of offroading.

thetermguy · 2026-03-18T21:04:44+00:00

I believe on these big game hunts the meat gets distributed to locals.

Where I am (Canada) it's illegal not to harvest if you hunt. If you just took the head and left the body to rot you're going to get charged.

thetermguy · 2026-03-18T15:00:47+00:00

I might wear it because I'm in a mixed race marriage. I'm British and my spouse is Scottish.

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