Mortgage Life Insurance allows you to protect your family home with a low cost form of insurance. Most of these policies start on the day that your mortgage is approximated and are often a requirement that needs to be met before you take out a mortgage.
Two of the main benefits of Mortgage Life Insurance are that you can have as much as 5 years of accrued interest and also that it will cover your existing mortgage principal up to as much as $500,000. Our main policies allow for two people to be covered under the plan so that you and your significant other can be covered.
If you suffer a serious illness which is then found to be terminal within 1 year, Mortgage Life Insurance can payout early to give you piece of mind.
Premiums are usually based on your current age and the approved amount of coverage you want but will also be dependent on health conditions and history also. Smokers will have to pay more to purchase Mortgage Life Insurance & health insurance as they are at a greater risk than non-smokers.
• You must be a Canadian citizen;
• You must be at least 18 years of age;
• You must be under 65 years of age.
• You must be able to provide satisfactory answer to our health questionnaire
If you’re looking for life insurance for your mortgage contact us today and we can answer your questions. We offer some of the best policies available on the market to help guard your family and your home.