
Mortgage Protection is right for you if:
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You want to guarantee your mortgage will be paid off directly to the lender if you pass away, immediately securing the home for your family.
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You are concerned that health issues or high-risk occupation may prevent you from qualifying for a more traditional, medically underwritten term life insurance policy​
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You have limited savings or assets that your family could use to cover the mortgage and other unexpected expenses if your income suddenly stopped.
Frequently Asked Question
1
What exactly does Mortgage Protection cover?
Mortgage Protection is a specialized life or disability insurance policy designed to cover your largest debt- your home mortgage - in the event of tragedy (death, critical illness, disability).
2
Is Mortgage Protection the same as Private Mortgage Insurance?
No, they are very different.
Mortgage Protection is optional and is a type of life insurance you buy to protect your family. the benefit pays your lender directly if you pass away.
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3
How does Mortgage Protection compare to standard Term Life Insurance?
The main difference is that Mortgage Protection sends the payout directly to your lender, and the coverage amount typically decreases over time as your mortgage is paid down.
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