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Mortgage Life Insurance

Services Offered

Mortgage Life Insurance

Why do we offer this product?

Because term life insurance covering the mortgage loan can be an attractive option for borrowers who have significant financial responsibilities and who want to protect their family against the financial consequences of premature death. This may include young families with dependent children, couples with a single source of income, or people with large debts.

In the event of the borrower’s death, term life insurance covering the mortgage loan can help ensure that the borrower’s family is not left with unpaid mortgage debt or in financial difficulty.

Benefits :

There can be several advantages to purchasing mortgage loan insurance independent of the mortgage lender, including:

Avantages :

  • Better rates : Premiums for independent mortgage insurance can often be lower than those offered by the mortgage lender, as competing insurance companies
    can offer more competitive rates.

  • Transferable warranty : Unlike lender-provided mortgage insurance, independent mortgage insurance is often transferable, meaning you can keep coverage if you change lenders or homes.

Produits :

  • Independent : Independent mortgage insurance is managed by an insurance company separate from the mortgage lender. This means that if you have a dispute with your mortgage lender, your insurance coverage will not be affected.

Avec Nolos services financiers…

Big outlines

  • Underwritten by established Canadian insurance companies
  • Renewable
  • Transformable

Features

  • Term from 10 to 40 years
  • Accelerated or standard issue
  • Fixed and guaranteed premiums

Options

  • Child life insurance benefit
  • Accidental fracture
  • Accidental death
  • Living benefit: 50% of the sum insured in the event of terminal illness
  • Transportation benefit (200 km/up to $2,000)

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