Mortgage Insurance

The benefits of owning your own mortgage insurance vs. Being insured through your mortgage lender

Most people, while contracting a mortgage, end up agreeing to being insured through their mortgage lender. It is convenient and does not appear to be expensive. But mostly, many do not realize the benefits to be gained by owning their own mortgage insurance.

We would welcome the opportunity to bring these benefits to you. Simply get in touch with us and we will forward you our Mortgage Insurance Information Kit, including a personalized quotation.

By the way, if you would like to get a sense of the savings that could be in store for you, we recommend that you get an independent life insurance quotation for either Term 10 Years or Term 20 Years policies (depending on the amortization period of your mortgage). Please note each situation is unique and warrants a proper needs analysis. We hope you will turn to us for guidance.

Here then are the principal benefits of owning your own mortgage insurance:
  • You get a level death benefit. Through your mortgage lender, you get a decreasing death benefit as the mortgage decreases.
  • Your policy is portable if you change mortgage lender.
  • The beneficiaries decide what to do with the insurance proceeds. For example, they may decide to pay down only a portion of the mortgage and use the balance to help them in some other way.
  • Your policy can be renewable and convertible.
  • You are provided with your very own policy. This is your peace of mind that you are covered.
  • You benefit from the guidance of a qualified, independent life insurance broker.
  • You can save substantially on your mortgage insurance cost.