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Ep 27: Is Creditor Insurance Hurting Your Business | Founder Matthew Inglis
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Are you safeguarding your business or your bank? Make sure your debts don't hurt your pocket or your business!
Canadians, particularly business owners, must be knowledgeable about various insurances currently offered to them and take the information seriously; this will not only help them save money, but it will also keep their businesses from being jeopardized, and avoiding to risk their millions of dollars for a false sense of security.
In another episode of Mind Your Biz Podcast, Mehul speaks with Matthew Inglis, Founder of Creditor Insurance Watchdogs, a division of Mobile Advisors. Matthew specializes in educating people and providing tools to help them get better rates and coverage on their creditor insurance. He will elaborate more on creditor insurance and how it can help you better your business.
If you are a business owner, this episode would be a BIG help for you! What are you waiting for? Hit that play button now!
Highlights:
[01:15] The Thought Behind MOBILE ADVISORS
[06:47] Creditor Insurance in a Nutshell
[09:33] The Surface Issues of Creditor Insurance
[14:25] Understanding the Differences Between Life Insurance Policy and Creditor Insurance
[16:00] Why it is crucial to get a Licensed Insurance Professional
[20:00] The importance of fact-checking and who answered the forms correctly upon time of application
[24:10] How is Creditor Insurance Priced + Pricing of the Premiums for Creditor Insurance versus Traditional Insurance
[26:29] What is the difference between “I'm going to lend you a million dollars, and I'm going to charge you a million dollars to ensure it”?
[28:41] One tier bank that offers more than a million dollars worth of creditor insurance protection
[33:09] Why should business owners develop a relationship with financial advisors, financial planners, and licensed insurance professionals?
[34:02] What should be your next step as a business owner?
[38:19] Take the creditor insurance. Get the loan. Cancel it: How does that work?
[40:48] Categorizing Creditor Insurance Products
Links:
Website: https://mobile-advisors.ca/about-us/
LinkedIn: https://www.linkedin.com/in/matthew-inglis-4b960069/?originalSubdomain=ca
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