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Understand Mortgage Insurance

Understand Mortgage Insurance

What is it?

Mortgage Life Insurance is a life insurance plan that is designed to cover the balance of your mortgage should you pass away. It is a term insurance product where the term of the policy matches the time it would take to pay off the mortgage. The policy remains in force even if you sell the property or change mortgage providers.

How does it compare to plans from your lender?

Mortgage insurance is typically provided by your mortgage lender with the purpose of protecting the lending institution. Our plans are designed to protect those you care about most and not your bank. Consider the following benefits of our policies:

  • Our plans are guaranteed to be more affordable than your lender

  • You are the owner of the policy and not your lender

  • Your coverage does not decrease in line with a mortgage as it does with your lender

  • You are free to select who gets the benefit for your policy, as opposed to your lender automatically being the beneficiary.

  • Your family can choose to cover the mortgage as well as use the benefit for any other needs.

To get more information or to get a no obligation quote please complete a short enquiry form and we will be happy to assist you.

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Why choose Instant Life Insurance?

  • Compare rates from top Canadian providers

  • Insurance products to suit every need

  • Experienced advisors across Canada

  • No medical insurance plans

  • Products available for ages 0-85

Why choose Instant Life Insurance?

  • Compare rates from top Canadian providers

  • Insurance products to suit every need

  • Experienced advisors across Canada

  • No medical insurance plans

  • Products available for ages 0-85