Mortgage Insurance


Insurance policies offered by banks and lenders are traps.

 Unlike  insurance products offered by banks and mortgage lenders, MPP is  portable, so it does not get canceled if you decide to switch lenders  for more competitive rates. 

It is common to see people settle  for noncompetitive rates with their current lender on renewal because  leaving them would cancel their insurance policy after they have aged and may have developed health problems.  Banks and lenders know this and  benefit from borrowers who have insurance policies with them who have  suffered health problems.  MPP can protect you from this. 

Forever young

Your health  is reviewed up front, not after a claim is made.  Your premiums will  never change over the length of your coverage, no matter what health  problems you may develop down the road.  If you decide to increase your  coverage, the initial coverage maintains its initial payment. 

Insurance on lines of credit

Insure the  full limit of your line of credit.  Unlike term insurance which will  cause you to pay more in premiums each time your term policy renews, you  can insure the full limit of your line of credit and be protected with  the forever young clause for as long as you have the line of credit...  no matter what the balance is on the line of credit. 

Is your home secure?

 Over the  years, many of us in the mortgage industry have come in close contact  with tragic stories; stories about families who had to sell their homes  or face foreclosure as the result of a breadwinner suffering a serious  disability or passing away unexpectedly. Naturally, we do not want to  see something like that happen to any of our clients.

Our office  offers Mortgage Protection Plan®.  This insurance plan provides life  insurance that will pay off your mortgage in the event of death and  offers total disability protection as well.

Some people believe  that the average Canadian has plenty of life insurance protection, and  that programs like Mortgage Protection Plan are an unnecessary “frill.”  But don’t risk being misinformed - be sure you do your research.  We  always encourage our clients to make sure they have enough insurance to  cover all their obligations, especially their mortgage.

Relying  too heavily on employee benefits insurance can also lead to a false  sense of security.  Even if you have a very generous plan right now,  what happens when you decide to move to a different employer, or - as is  getting more and more common these days - become a self-employed  entrepreneur?

It may take some time to evaluate the coverage you  already have right now.  Why not be protected in the meantime? Mortgage  Protection Plan protects you as soon as you complete the application and  comes with a 60-day money-back guarantee.