Mortgage Insurance

Mortgage Protection through a combination of Term Life Insurance and Critical Illness Insurance protects you and your whole family, including those not responsible for paying your mortgage. This protection covers whatever you need it to cover (ie: your mortgage, debts, etc) and provides the benefit to whoever you name as the beneficiary, allowing the beneficiary to decide how to use the money (i.e. to pay your mortgage, medical expenses, your child’s tuition, etc.)

As your mortgage balance decreases, the amount of coverage you have stays the same for as long as you own your policy (unless you decide to change it). Even in the event you should switch mortgage lenders, your coverage stays the same (again, unless you decide to change it). Since your coverage isn’t tied to your mortgage, you can carry it with you if you move again.

Depending on your insurance, you may get some of the money back that you’ve paid in premiums if the event you decided to cancel your coverage. Essentially, you may have the flexibility to adjust the type and amount of your insurance, or even convert it to a permanent solution.

Mortgage Protection gives you:

• The ability to choose who the insurance benefit goes to, while the beneficiary gets to choose how to spend the benefit.
• The stability to keep its value, even when the mortgage balance goes down, or is paid off.

The flexibility to switch mortgage lenders without disruption or the need to re-apply.