Day: May 16, 2025

RE: CANADA, Life Insurance, Lease Not Covered

Coninued from previous post…

So, in Halifax, Quebec….

After the cyclone and ice storm damage…

If I go to a residential neighbourhood today and look at the properties from ice and storm damage insurance companies know what’s not covered from outside.

I go to the real estate people and bid on the houses apartment complexes that I know are not covered for life insurance.

The fact is a large percentage of them are bank mortgages that require insurance for the loan.

I put my money down on them for the real estate bid, then the ones that get cited for no life insurane against their bank loans…

The buildings and houses will default on the bank loan and have no life insurance.

When they close that same day, the bank will take my payment and I will own the buildings.

After that, the building inspector will send me the bill to fix the units.

After that is done they will reopen when finished and I will get all the rent money.

CANADA: Life Insurance Not Covered If Apartment Lease Not Covered

I’ll try to say this simple because it’s court life insurance cases.

In Canada during a cyclone, bad ice storm etc.

If your apartment lease is not covered you have no life insurance.

Let’s say a tornado filled an apartment building with mud, the tenant had to stay to clean up the mud to protect the lease they are covered for life insurance.

If the lease wasn’t covered because the mud wasn’t cleaned which contaminated infant formula or similac with construction glue and the baby died from it’s lungs being glued shut that means no life insurance.

The insurance company will say, the apartment had to be dried so they won’t cover the infant formula continmation as cause of death.

Citing the parents responsible for the death for not cleaning the mud.

If an illegal subet owner did not report damage they are not covered for life insurance in the unit.

If the damage is in the hallway of the building and continmated a third party…the third party is covered for life insurance.

In that case, building maintainence is not covered at all and has no insurance, they are responsible for the third party death.

They will have to pay for the rest of their life to the third party in civil court.

During a disaster if the government offers no support the tenant and building are both responsible to keep the unit or building maintainence in good standing out if their pocket or they will have no insurance.