Mortgage Insurance Protection Plan

FIRST PRINCIPLES

MORTGAGE INSURANCE

GROUP CREDITOR

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 assists and supports its Partners in assessing and monetizing their “books of business” at NO RISK and NO COST to its Partner(s).

BGS enjoys the: n Dominant position in the heavy truck and equipment space (with over 1100 dealer relationships). n The leading position in the small-mid cap equipment leasing space. n A strong position in the mortgage insurance space.

We protect billions of dollars of mortgage lending with a unique “no question, guaranteed issue” mortgage insurance product. Nobody is declined. There is no other product like it in Canada.

Competitors Have Medical Questions

The Only TRUE Group Creditor Mortgage Insurance Product

n Guaranteed issue up to $500,000 for “life”

n Up to $3,000 per month for “disability”

PRE-AUTHORIZED DEBIT (PAD) AGREEMENT

APPLICATION/ACCEPT

Group Creditor Mortgage InsuranceApplication and Certificate

Group Policy Number: BGS000002 Certificate Number:

First Middle Telephone:Email:Date of Birth (dd/mmm/yyyy) Smoker Status

First Middle Telephone:Email:Date of Birth (dd/mmm/yyyy) Smoker Status

MORTGAGE BROKER INFORMATIONName and Address (include Street, City, Province, Postal Code)

Mortgage Number Telephone: Dealer NumberFax Number:

Life Maximum Ages 18 – 69Life Maximum Term Ages 65 – 69 = Number of months of coverage limited to expire at 70Disability Maximum Ages 18 – 64

Provincial Sales Tax(Ontario and Quebec)

Monthly Insurance Premium

I, by signing below: 1. Apply under the Group Policy for the insurance checked above. 2. Declare that the information shown in this Application is true and complete and that this Application and any other forms submitted by me in connection with the insurance applied for forms the basis of the insurance certificate issued. 3. Understand that a) a misrepresentation or disclosure made by me in respect of this Application may cause the insurance to be voided and b) if this Application is not accepted for any reason, the Insurer’s liability is limited to a refund of premiums. 4. Authorize any creditor, lender or other party authorized by them to pay the monthly insurance premium on my behalf.

Important Notices: Insurance is voluntary and is not required as a condition of the mortgage. The Insured Applicant and/or Co-Applicant shall have 30 days from the Effective Date of Insurance to cancel the insurance evidenced by the Certificate. Such cancellation may be effected by giving written notice of cancellation to the Insurer, postmarked no later than the 30th day after the Effective Date of Insurance. Upon receipt of such written notice by the Insurer the insurance evidenced by this Certificate shall be deemed to have never been in force and a full refund of the premium shall be paid.

I, by signing below, hereby authorize any licensed physician, medical practitioner, hospital, pharmacy, clinic or other medically-related facility, insurance company, the group policy administrator, the insurance plan sponsor, any investigative and security agency, any agent, broker or market intermediary, any government agency or other organization or person that has any records or knowledge of me or my health to provide to the Insurer or its reinsurers, mortgage broker and subsequent creditor to which the insurance applies if applicable any such information for the purpose of this Application and contract and any subsequent claim. I authorize Foresters Life Insurance Company to consult its existing files for this purpose. A photocopy of this authorization shall be as valid as the original.

I, by signing below, agree that my personal information may be, subject to applicable law, collected, used, and available and/or disclosed to, Foresters Life Insurance Company, its parent company The Independent Order of Foresters, and their respective reinsurers and/or to the insurance plan sponsor, group contract holder, mortgage broker and subsequent creditor to which the insurance applies if applicable, and to each of their respective affiliates, subsidiaries, employees, contractors, consultants, brokers, agents, and service providers, and to any other person(s) you authorize, in writing, for either servicing the group contract or certificate and/or for audit, regulatory or legal purposes and otherwise as required or permitted by applicable law. You can review such personal information about you, upon written request, except information prepared for, or as a result of, an anticipated or actual claim or civil, criminal or regulatory investigation or proceeding. Send your written request to our Privacy Officer at our mailing address at: Foresters Life Insurance Company, 1660 Tech Avenue, Suite 3, Mississauga, ON L4W 5S8, Attn: Privacy Officer.

I have received and have been given the opportunity to read the Mortgage Insurance Protection Plan Booklet and agree to be bound by its terms.

__________________________________________ ________________ __________________________________________ ________________Debtor’s Signature – ACCEPT Date (mm/dd/yyyy) Co-Debtor’s Signature (if applicable) – ACCEPT Date (mm/dd/yyyy)

I authorize Foresters Life Insurance Company (“Foresters Life”) to debit monthly from the account identified in the VOID CHEQUE provided with the Application, of which this PAD Agreement forms a part, the total insurance amount shown on page 1 of the Application for purposes of paying for the insurance issued by Foresters Life in response to the Application. You must provide Foresters Life with notice of a change in the account against which the debits are to be made. This pre-authorized cheque plan is for my convenience. The responsibility for payment of premiums remains with each Debtor. Either party may cancel this PAD Agreement at any time upon written notice of at least 30 days to the other party. To obtain a sample cancellation form, or further information on your right to cancel this PAD Agreement, contact your financial institution or visit “http://www.cdnpay.ca”. I have certain recourse rights if any debit does not comply with this PAD Agreement. For example, I have the right to receive reimbursement for any debit that is not authorized or is not consistent with this PAD Agreement. To obtain more information on your recourse rights, I may contact my financial institution or visit “http://www.cdnpay.ca”. For inquiries, obtain information or seek recourse with respect to any pre-authorized debit by Foresters Life, you may contact Foresters Life at: 1660 Tech Avenue, Suite 3, Mississauga, ON L4W 5S8 Tel: 1-800-267-8777 Email: “clientservice@foresters.com”. You waive the right to receive pre-notification of the date of the first debit and of a change in a debit amount required as premium, or charges for the insurance in effect, or a change in amount requested by you by whatever means. Monthly withdrawal under this PAD Agreement are __Personal Related __Business Related.

__________________________________________ ________________ __________________________________________ ________________Account Holder’s Signature – ACCEPT Date (mm/dd/yyyy) Joint Account Holder’s Signature – ACCEPT Date (mm/dd/yyyy)(if signature required) (if signature required)

406859 CAN (01/12)

Principal Amount InsuredMaximum ($500,000)

Monthly InsuredAmount

($3,000 Max/month)Premium

Life InsuranceApplicant Only Co-Applicant Only Joint Coverage Separate, Non Joint Coverage

Total Disability InsuranceApplicant Only Co-Applicant Only Joint Coverage Separate, Non Joint Coverage

Date of Application (dd/mmm/yyyy)

Insured Mortgage Amount

Financial Institution

Mortgage Term

Annual Taxes

Coverage Type

Last

Address (include Street, City, Province, Postal Code)

Last

Address (include Street, City, Province, Postal Code)

Name and Address (include Street, City, Province, Postal Code)

Telephone:Fax Number:

CREDITOR INFORMATION

CO-DEBTOR (Natural Person Only)

DEBTOR (Natural Person Only)DEBTOR AND CO-DEBTOR INFORMATION

INSURANCE INFORMATION

WAIVER OF INSURANCE COVERAGEI certify that I have been given the opportunity to become insured under the Group Policy but I wish to decline such coverage and I hereby accept any and all risk hereafter referenced with no further recourse whatsoever.

Debtor Declines all insurance coverage contemplated by this certificate. Co-Debtor Declines all insurance coverage contemplated by this certificate.

__________________________________________ ________________ __________________________________________ ________________Debtor’s Signature – DECLINE Date (mm/dd/yyyy) Co-Debtor’s Signature (if applicable) – DECLINE Date (mm/dd/yyyy)X

X

X

X

X

X

Foresters™ is the trade name and a trademark of The Independent Order of Foresters (“Foresters”), a fraternal benefit society. Its subsidiaries, including Foresters Life Insurance Company (“Foresters Life”), are licensed to use this mark.

What follows are some of the “concrete business opportunities” that our Product can present for you:

“Declines”The unique “no questions-guaranteed issue” Mortgage Insurance Product results in nobody being declined from obtaining coverage (i.e. some scope of meaningful coverage is always available). “Just because a person has cancer should that person be excluded from all coverage? Let’s say they died of a heart attack.” With this absolutely unique product that person is covered. This opens up the opportunity to approach any customer who has been previously declined or answered “yes” to any question on existing or historical books of business.

1

Nobody declined from obtaining coverage.

“Highly Rated” ClienteleBGS “rates” may be more cost-effective for the client(s) if they have some “condition” which causes them to be more “highly rated”. Again, there is no underwriting process required.

2

No underwriting process required.

“Topping up the Insurance”The BGS Mortgage Insurance will also allow customers to maintain (and allocate) any previous insurance they have in place for the purposes they initially intended it for (i.e. there is no disruption to any previous insurance/estate planning that has been done). If a client does not want to go through the full estate planning exercise once again because of a new mortgage (i.e. debt obligation) then they can simply “top up” the new indebtedness. The Mortgage Insurance is “transaction based”. This same rationale would apply to any subsequently incurred indebtedness (be it mortgage debt or otherwise). BGS has additional “no questions” Product to attend to any debts.

3

No disruption to any previous insurance/estate planning.

Already taken Mortgage Insurance from a bankIf it is too heavy a lift to get a client off of a “Bank Product” then BGS has an “apples to apples” alternative for the client. Instead of trying to persuade a client to go through the “full underwriting process” then the client could simply cancel the Product they took from the Bank and take this product. All the Bank Products have questions (i.e. risk of “post-claim underwriting” with vague, open-ended questions).

4

“Apples to apples” Alternative for the client.BANK

Younger PeopleYou may find BGS “rates” are comparable to “traditional products” for younger clientele and it is not cost-effective to go through the “full underwriting process”. In the event, this may be a great alternative.

5

Younger clientele...great alternative.

HighlightsTWO COVERAGE OPTIONS – LIFE and/or DISABILITY

•NoMedicalQuestions–GuaranteedIssue

•SoftestTermsandConditionsintheIndustry(i.e.most“customerfriendly”)

•InsuranceisPortable

•AutoTermRenewalUntilTermination(Upto35YearsAmortization)

I. Life: Ages18-69* upto$500,000 II. TotalDisability: Ages18-64** upto$3,000permonth

* Musthavereachedtheageof18andnotyetreachedtheageof70 ** Musthavereachedtheageof18andnotyetreachedtheageof65 ** Canpurchasecoverageuptoage64forexpiryatage70

INFORMATION AT A GLANCE

Life: •DeathclaimunrelatedtoaPre-Existing Conditionwillbeapproved.

• Pre-Existing Condition–Anymedicalcondition12monthspriortoeffectivedateofinsurance.

Total Disability: • Total Benefits Payable–48monthstotalmaximumbenefit

–20monthsmaximumbenefitperoccurrence.

• 60 Day Waiting Period–Claimsapprovedwillhavea60 Day Waiting Period.

• 30 Day Right Of Inspection–DebtorandCo-Debtorhave30daysfromtheEffectiveDateofInsurancetocanceltheinsurance.

• Pre-Existing Condition–IfDisability is due to aPre-Existing Conditionwithin thefirst12monthsfollowingtheeffectivedateofinsurance,claimmaybedeclined.Ifdisabilityclaimedafterthe12monthperiod,customer’spreviousmedicalhistoryNOTunderreview.

• Joint Benefit–oneinsuredcoveragewillpayFULLbenefit.

Mortgage Insurance Protection Plan Program

MIPPEN09-12

MIPP 05-12

MORTGAGEi n s u r a n c e

PROTECTIONPLAN

book let

Mortgage Insurance Protection Plan