Mortgage Life Insurance

Mortgage life insurance that’s simple, easy, and clear.

Quote and talk to an advisor

Couple standing beside home with sold sign

Protecting your home

The purchase of a home is probably one of the largest single purchases you will ever make.

It will probably also create the largest single loan you have ever had.

In the event of your premature death, you’ve probably considered insuring your lives to ensure your surviving family will be able to stay in the home prior to the loan or mortgage being paid off.

So, should I get protection through a bank or insurance company?

There is only one answer…

If you want:

  1. Portability
  2. Flexibility
  3. Control

Your best options are available through an insurance brokerage. Let’s Compare!

Insurance Broker

Bank

Type of Life Insurance Term or Payment Decreasing Term
Beneficiary Anyone – you decide The mortgage lender
How insurance will be used Beneficiary decides. Invest? Pay off mortgage? Pay off mortgage
Payment Frequency Monthly, semi-annually, annually With your mortgage payment
Other Life Insurance needs Take care of all insurance needs with one policy Can only cover the mortgage
Portability Insurance stays with you – even if you refinance or change lenders If you move, the insurance ends. You will have to requalify
Benefit Level Get level benefit or lower benefit over time to match your mortgage Benefit decreases as mortgage paid off
Advice Deal with licensed advisors The mortgage lender
Underwriting Time Underwriting at time of application Often underwritten at time of death
Premium Guarantees Fully guaranteed Not necessarily guaranteed
Premium Rates Premium based on gender, smoking, health, lifestyle Often some rates given, regardless of other factors
Options and Riders Individual policies can be customized Usually not available
Lifestyle Discounts Preferred underwriting available None

Now you know the facts, but how does this all fit together?

A needs analysis will take a look at the whole picture and help us determine a plan to suit your needs. A customized insurance plan will put the control where it should be…in your hands.