Ask us for a mortgage insurance quote
We have great mortgage insurance to protect your home and keep your family from debt if you’re unable to make mortgage payments because of a serious illness. As an outlet for over 70 of Canada’s best insurance companies, we have access to some of the best mortgage insurance rates in Ontario. You never have to shop and compare rates again. Call us for a free quote. 1(403)8000267
How to insure your mortgage
There are two ways you can get mortgage insurance. The first is through a mortgage life insurance policy that we sell. The other way is through mortgage loan or default insurance from your bank or lender. There are some key differences in your ability to customize your total coverage and rates, and your ability to select who gets the insurance if something happens to you. We’ve provided a comparison below. If you have any questions call 1(403)8000267.
Mortgage life insurance from Mitch.
Can I pick how much coverage I need?
Coverage is based on the original amount of your mortgage and doesn’t decline as your balance goes down. You also have the choice to pick more coverage, if you have needs that extend beyond mortgage insurance.
Can I pick my beneficiaries?
Unlike mortgage insurance from a bank or lender, you can choose your beneficiaries when you buy mortgage life insurance.
Are payouts based on set amounts or remaining mortgage?
If you pass away, the full amount insured (not just the amount owing on your mortgage) is paid to your beneficiary to pay off the mortgage and use the remainder however they choose.
Mortgage insurance from a bank or lender
Can I pick how much coverage I need?
Premiums are based on the original amount of the mortgage. While the balance owing on your mortgage will obviously decline the premiums will not.
Can I pick my beneficiaries?
When you buy mortgage insurance from your bank or another lender, they automatically become the beneficiary of the policy if something happens to you.
Are payouts based on set amounts or remaining mortgage?
While you got insurance to cover the original amount of your mortgage, only the remaining balance of the mortgage is paid out, if you pass away.
Being an outlet for over 70 of Canada’s top insurers means we have access to a wide range of insurance solutions at some of the best rates in Ontario. Want to learn more about the coverage options available to you? Here’s a few of them.
