Mortgage Life Insurance..
The biggest purchase of your lifetime needs protection. Mortgage life insurance provides your family with financial relief if you die. Where and how you buy your coverage will decide whether they win or lose. We’ll give you the knowledge to make the right choice now before it’s too late.
Mortgage protection online insurance quote:
Mortgage life insurance protects your family from being saddled with a massive mortgage debt if the mortgage holder unexpectedly dies.
The coverage amount is intended to match the mortgage amount and amortization period.
Mortgage life insurance allows the freedom as to whom you want to name as the beneficiary for the proceeds in an unexpected death.
Mortgage life insurance vs mortgage protection insurance.
When it comes to mortgage insurance in Canada, our goal is to equip you with the tools to ensure you find the best coverage possible, for the lowest rate. Admittedly, closing a mortgage is a complex process. Now toss mortgage protection insurance into the mix – Without the proper guidance, you’ve got a recipe for disaster.
Mortgage brokers do exactly what their titles suggest. Whether from a bank or a private mortgage firm, they live and breathe mortgages. That is to say they are not insurance brokers, and as such do not have the knowledge to properly guide in the crucial step of mortgage life insurance during closing a mortgage.
Incidentally, mortgage brokers offer a simple product called mortgage protection insurance, which subsequently is inadequate for most people in terms of coverage. Additionally, mortgage protection insurance is much more expensive, and has many chances of failure at claim time. When you close a mortgage, eventually you will be asked if you would like this coverage by the mortgage broker. With this in mind, we highly recommend you think twice about it.
You’ve got options, but some are much better than others.
Rather than taking the subpar mortgage protection insurance from your mortgage broker, we suggest you first speak with a life insurance broker about better and cheaper coverage options. Life insurance brokers specialize in mortgage insurance in Canada. In particular, they have the expertise and know-how to oversee and educate you towards the best possible insurance solution. As a result you will properly protect your family, home, and assets in death.
We know price is important to you, hence our mortgage protection insurance online quote tool offers you a way to compare term insurance rates instantly, and as a result, you can evaluate the price difference between the options available to you. First, enter your details into our free online life insurance quoting tool. Next, select a term insurance length which matches your mortgage, and finally, click compare now! You can request an application and speak with a licensed life insurance broker about your rate in more detail.