Mortgage Insurance

Home ownership is an exciting accomplishment, especially in Vancouver, one of the most expensive places to live in the world. However, achieving this milestone often means taking on a considerable amount of debt, which can be daunting. While you may have some insurance coverage through your job, such as life, disability, or critical illness insurance, this protection is typically not designed to cover larger debts like your mortgage. Additionally, if you lose or change jobs, that coverage may end abruptly. 

To ensure you are adequately protected, consider a personal life insurance plan. This type of insurance can help you continue making mortgage payments in the event of death, illness, or disability. Unlike the mortgage insurance that may be offered through your bank or private lender, the financial benefit from a personal life insurance plan is paid directly to you, not the lender. This means if you change lenders, your coverage follows you seamlessly, and reapplying for coverage during refinancing is unnecessary. Plus, securing your own coverage is often more affordable. 

Meet with one of our experienced insurance advisors to explore the various insurance coverage options available to you.