The importance of insuring your mortgage
Purchasing a home is one the biggest investments you’ll make in your life. It is therefore essential to find mortgage insurance that is adapted to your situation. There are many advantages to insuring your loan with us that your loaning institution doesn’t offer:
- You’ll keep your mortgage insurance even if you switch lenders when you renew your mortgage.
- You own the contract and choose your beneficiaries.
- Your premium is set based on your personal profile and will not increase, even if your health condition worsens.
DID YOU KNOW?
- Mortgage insurance from a bank is more expensive than from an insurance company.
- In the event of disability or death, the insurance covers your mortgage payments or any other loans.
Coverage adapted to your needs
To cover all your loans, in the event of death
Pick-A-Term allows you to cover, in part or in full, your financial commitment in the event of death. All your loans and lines of credit are covered with one insurance policy. This term coverage gives you the freedom to choose the exact duration of your insurance term, from 10 to 40 years, and your premiums won’t increase.
You can, at any time, convert your term insurance into permanent life insurance.
Universal loan insurance
For repaying your debts in the event of disability
Universal loan insurance is a preferred solution because it allows you to repay the balance of your debts, in part or in full, while you are on disability. This coverage is also offered to tenants.
Compare mortgage insurance products
|Pick-A-Term||Universal loan insurance||Lending institution|
|Duration of coverage||10 to 40 years||2 years, 5 years or up to age 65||Ends if you change your lending institution|
|Guaranteed renewal||Up to age 65||Ends if you change your lending institution|
|Option to convert to permanent life insurance||-||-|
|Coverage offered to tenant||-|
Mortgage insurance advice
The benefits of mortgage insurance
Let us tell you about the benefits of buying mortgage insurance with an insurance company.
Fixed or adjustable rate mortgage?
One of the most important choices when you buy your first home or renew or refinance your mortgage is whether to lock in a fixed interest rate or opt for an adjustable rate.