Bingham Group Services Corp. (“BGS”) is Canada’s leading Third Party Administrator (“TPA”) and Managing General Agent (“MGA”) in the business of creating, marketing and administering group creditor insurance products (including, mortgage insurance products).

BGS has a distribution network that stretches across the Country with a substantial presence in each and every Province. BGS employs industry leading, best practices standards in respect of administration and regulatory compliance.

The Mortgage Life and Disability Insurance Products are Underwritten by Foresters Life Insurance Company http://www.foresters.com/ca-en/Pages/default.aspx#. The plan is unique to the industry offering Life and Disability Creditor Protection up to $500,000 of life to applicants 18 to 69 and $3,000 a month of Total Disability Protection to applicants 18 to 64 with No Health Questions and No Medical Tests.

The insurance is portable and there are some of softest Terms and Conditons within the industry.

BGS Insurance News

Bingham Group Services Corp. Policies

Pluses:

1. Offers a Guarantee Issue Creditor Life and Disability Plan.
2. Coverage can be configured to the full amount of the loan up to $500,000, or to cover only part of the loan, depending on the insured's budget.

Minuses:

1. For the life insurance component, any pre-existing conditions, within 12 months from the policy issue date, will not be covered for the duration of the policy contract.
2. The policies are portable, but not convertible to permanent life insurance plans.