Top-rated app highlights life insurance as an affordable option for mortgage protection
(Toronto, ON, March 17, 2015) – Foresters™, an international financial services provider, today announced it has teamed up with the Canadian Mortgage App1, to offer its contracted life insurance agents a meaningful way to connect with their customers. The No. 1 rated app for mortgage calculations on the Canadian iTunes store and No. 2 on Canadian Google Play2, the app is a trusted tool that helps Canadians calculate the costs of home ownership while highlighting life insurance from Foresters as an affordable option to protect their investment and provide peace of mind.
“Our exclusive insurance rate sponsorship of the Canadian Mortgage App is a win-win for both homebuyers and life insurance advisors,” said Rob Baboth, Vice President of Sales, Foresters Canada. “Preparing people for the unexpected starts with proper planning and this popular mortgage calculator is a convenient, useful resource that advisors can share in their practice and that clients will appreciate.”
The sponsorship comes at a time when getting a mortgage is a major reason Canadians buy life insurance3. In addition to costs such as land transfer tax and Canada Mortgage and Housing Corporation (CMHC) premiums, the app now allows consumers to calculate the cost of protecting their investment with affordable life insurance from Foresters. More than 150,000 people have already downloaded the Canadian Mortgage App, a free download, viewing it over 4.5 million times since 2013, and another 10,000 Canadians download it each month.
“It’s important to us to offer advisors effective tools to help generate meaningful conversations with their clients,” continues Baboth. “Foresters purpose is to enhance family well-being through quality life insurance and investment products, unique member benefits4 and inspiring community activities.”
To learn more or to download the Canadian Mortgage App, visit foresters.com.
For 140 years, Foresters™, an international financial services provider, has fulfilled its purpose to enhance family well-being for its members and the communities where they live. A fraternal benefit society, Foresters offers quality life insurance and investment products, unique member benefits and inspiring community activities. Foresters shares its financial strength with more than one million members in Canada, the United States and the United Kingdom. Foresters has assets of $10.5 billion, total funds under management of $25 billion and a surplus of $1.7 billion (all figures in Canadian dollars as of December 31, 2013) and maintains an "A" (Excellent) rating by A.M. Best5. For more information, visit foresters.com.
Foresters™ is the trade name and a trademark of The Independent Order of Foresters, a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9; its subsidiaries are licensed to use this mark.
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1The Canadian Mortgage App is owned and operated by Bendigi Technologies Inc.
2As of September 1, 2014, the Canadian Mortgage App is the #1 app for mortgage calculations on the Canadian iTunes store and #2 on Canadian Google play.
3LIMRA, 2013 Canadian Life Insurance Ownership Study
4Description of member benefits that you may receive assumes that you are a Foresters member. Foresters member benefits are non-contractual, subject to benefit specific Eligibility requirements, Definitions and limitations and may be changed or cancelled without notice.
5 An "A" (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. In assigning Foresters rating on July 2, 2014, A.M. Best stated that the rating outlook is "stable", which means it is unlikely to change in the near future. See ambest.com for our latest rating.