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 Home Protection Plan

Customized Protection that Meets Your Needs





CASE STUDY: Bill and Mary

Bill and Mary are 42 and 40; they live in their family home with their two children. Bill is the primary wage earner in the family, earning $100,000 per year, Mary is a stay-at-home mom, and has no income. Bill and Mary recently moved into a bigger home valued at $750,000, they have a mortgage of $400,000 and their monthly mortgage payment is $2,800. If Bill were to die, Mary would have no source of income. She knows if anything happened to Bill, she would be forced to sell the house and uproot her children. Insuring Bill’s life for the full amount of the mortgage is Mary’s biggest concern. Bill isn’t too worried about making the mortgage payments if Mary died, he has a good income and could support himself and his two kids financially. Bill would like a small amount of life insurance on Mary, to create a college fund for the kids. Bill estimates that if Mary became very ill, he would only be able to provide half his income while looking after Mary and the kids, he knows Mary would need $50,000 of Critical Illness Insurance. Bill is healthy and he’s pretty sure he won’t have a heart attack in his 40s like his father did... As such, Bill likes the idea of a Return of Premium (ROP) option attached to his Critical Illness policy. Bill understands that if he never claims on his Critical Illness Insurance, the Return of Premium benefit allows him to cash in the policy and get all of his money back at age 65. Bill and Mary plan on using the refund to fund their retirement or pay for Long Term Care.


The HOME PROTECTION PLAN provides solutions to complex problems


Bill, age 42, Non-Smoker, Primary wage earner       Mary, age 40, Non-Smoker

$400,000 Life Insurance                            $46.08             $100,000 Life Insurance                 $13.05

$2,800 per month Disability Insurance    $91.37             $0 per month Disability                 $  0.00


$100,000 Critical Illness Insurance   $50,000.00   

Critical Illness Insurance with with Return of Premium option               $86.04    

with Return of Premium option     $41.67


Bill’s Total Monthly Premium            $223.49     Mary’s Total Monthly Premium $54.72


Joint Total Monthly Premium $278.21



At age 55, Bill suffers a heart attack; he receives $100,000 tax free courtesy of his Critical Illness policy. Bill is off work for six months recovering and receives $14,000 of disability insurance income.


Mary was able to take care of Bill while he was recovering without the stress and burden of worrying about finances. Bill reduces his work hours by half to reduce his stress level, Mary uses some of the Critical Illness Insurance benefit to go back to school and retrain.


Mary is now working part time earning $30,000 to help make up for Bill’s lower income. At age 65, Bill and Mary are both healthy and they decide to cash in Mary’s Critical Illness policy.


Mary receives a tax free cheque for $24,013 which they use as a down payment to help their kids buy their first home.


Book a consultation with R.E. Reynolds Investment and Insurance Services so we can show you how.





Contact Us:

Please contact us if you have questions

or would like us to prepare a custom service

package based on your needs.



Tel : Rick (250) 881-2423

        Rob (250) 220-0495

email: info@rerinvest.ca

Victoria Office, 670 Newport Ave

Victoria, BC  V8S 5C7


North island Office, 3713 Shoreline Drive,

Campbell River, B.C. V9H 1L8

R. E. Reynolds Investments


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