Get 4 months FREE Life Insurance...Is It Too Good To Be True?

Have you heard? You can now get your first 4 months of your term life insurance paid for on new applications. But is it too good to be true? The short answer is, no. But it is worth understanding a little more before applying. 

It’s no secret COVID-19 took the world by storm. But many people don’t know how this affected the insurance industry and better yet, how you can take advantage of this. 

When the Canadian government first began restricting human contact this became a problem for insurance companies. I’m sure you will find this humorous but when COVID19 happened many insurance companies would only accept paper applications. In fact, there were only a few companies that allowed you to apply online or over the phone and most of those companies only offered a small policy ($25,000 or less) to be applied over the phone. This forced many companies to make changes in order to keep business. 

What happened next was companies began to roll out online or non-face-to-face applications but at this time many Canadian didn’t feel the full impact of this disease. People were still under the impression this would last for a few weeks at most and everyone was going back to normal. This is not great for the insurance business. So what some insurance companies began to do was offer incentives for new applications. One of those incentives were having the first 4 months of your application paid for by the insurance company. 

As you can imagine a few months go by and now many Canadians know the impact COVID-19 is having and many more Canadian realize they can not afford to lose their loved ones. This is when insurance became a popular conversation in many households.

As of January 2021, insurance companies have seen a massive inflow of new applications. You see we are right at the cusp of yet another shift but this shift, when it comes, will not be in your favour. With the increase in new applicants over the last few months these insurance companies will not have to give the same incentives because the demand for new applicants exceeds their need for new business. 

The good news, as I write this, you can still get the first 4 months FREE on new applications, but not for long. For anyone looking to purchase life insurance, now is the time! 

If you have any questions or would like to apply reach out to us and one of our non-commission staff members will happy to help. Don’t wait before it’s too late.