Critical Life Insurance-Thoughts?

What are your thoughts on Critical Life Insurance?

We're renewing our mortgage and the bank is offering Critical Life Insurance.

We already have a 25 year term Life Insurance with RBC For a million.

thoughts on Critical? 

It's been said many times at RFD that any insurance offered through the bank (at the branch level) is not a good idea. This is because of "post claim underwriting" which means that at the time of claim the insurance company will try and find a way out of paying the claim. Life Insurance (and critical illness and disability) should be obtained with the help of a trustworthy licensed professional. It's also recommend to use an "independent" advisor who is able to provide you with multiple competitive quotes. This will ensure that you get the proper insurance at the best price.

Also, for the record, any insurance offered at the bank branch is almost always more expensive than a policy obtained from an independent broker.

For more info on critical illness insurance (a "crash course") check out the link... here.