Back to Blog

Mortgage Life Insurance

General Vinil Sood 20 Dec

Buying a home is one of the largest purchases you will make in your lifetime. At Dominion Lending Centres we believe it is an investment in your and your family’s financial future… an investment that needs to be protected.

45% of uninsured Canadians included life insurance among their top five financial priorities and 21% ranked it in their top three.

76% of parents said they worry about their family’s financial situation in case of their death.

Mortgage Protection Insurance protects your investment while helping secure your family’s financial well-being in the event of the death of you or your spouse. Should this happen, the mortgage on your home would be paid off, allowing surviving family members to:

  • use other existing insurance to carry on with life
  • maintain their lifestyle
  • recover from your loss

The mortgage insurance offered through Dominion Lending Centres has some great features that traditional bank mortgage insurance doesn’t provide. This includes portability. When it is time to renew your mortgage you won’t lose your coverage (or have to re-qualify) no matter how many times you change homes or lenders in the future. Moreover, premiums don’t increase with changes in health or as you get older.

In addition, Mortgage Protection Plan includes two vital insurance products for your mortgage protection: Life Insurance and Total Disability Insurance.

With this coverage in place, you can protect your mortgage not just in the event of death, but also if a serious accident or illness leaves you unable to work. Most traditional term life policies only cover you in the event of death.

HOW TO APPLY

Vinil can walk you through the ins and outs of mortgage life insurance, the applicable costs, and provide you with instant coverage with money-back guarantee. This is in case you choose alternative coverage and cancel your policy within 60 days. Talk to him today, and make the simple choice to protect your mortgage with life and disability insurance.