Mortgage Insurance
Mortgage insurance ensures your mortgage will be paid off if you pass away or become disabled, protecting your family from losing their home. This coverage provides peace of mind that your loved ones won't be burdened with mortgage payments during an already difficult time.
Who It's For
- Homeowners with outstanding mortgages
- Families wanting to protect their home
- New homeowners with significant mortgage debt
- Single parents providing for children
- Couples with joint mortgages
What It Covers
- Mortgage balance protection
- Death benefit to pay off mortgage
- Disability coverage options
- Critical illness mortgage protection
- Coverage decreases as mortgage is paid down
- Term coverage matching mortgage length
- Coverage for both mortgage holders
- Additional living expenses (some policies)
Key Benefits
- Affordable premiums
- Coverage matches your mortgage balance
- Family keeps the home if something happens to you
- No medical exam required (for some policies)
- Quick approval process
- Disability options available
- Can be converted to permanent insurance (some policies)
- Tax-free death benefit
Common Questions & Answers
Doesn't the bank already offer mortgage insurance?
Banks offer mortgage insurance, but it's often more expensive and less flexible than individual term life insurance. Bank insurance typically covers only the mortgage, while individual insurance gives you control over beneficiaries and coverage. Our agents can show you the difference and help you choose the best option.
What happens if I move or refinance?
If you have individual mortgage insurance (term life), your coverage remains intact regardless of your mortgage changes. Bank mortgage insurance may not transfer to a new property or lender. Our agents can explain your options for coverage that adapts with your life.
Is mortgage insurance worth it if I'm young and healthy?
The younger and healthier you are, the more affordable life insurance is. Locking in coverage now protects you at a low rate. If something unexpected happens, your family is protected. If not, you've had valuable peace of mind.
Ready to Get Started?
Connect with a licensed insurance agent who can help you find the right coverage at the best price.