Mortgage Insurance pays off your mortgage upon your death.
Life Insurance is paid on death but allows the homeowner the choice to pay their mortgage off or invest the insurance payout and continue paying their mortgage payments.
Financial protection is more important than ever, household debt is at an all-time high and Canadians are carrying bigger mortgages. Although it is important, this type of insurance is not mandatory.
Insurance is here for you and your family if the unexpected happens. It will ensure the mortgage will be paid and your loved ones will not have to sell the home.
Let us get you set up with a Financial Planner that will determine the amount of insurance required and get you the best life insurance policy for your age, debts, and income. It is best to have this review as a critical illness is another insurance that is beneficial to explore in case of illness.
We will discuss this referral and option when you are taking a mortgage. It is important to consider insurance to protect your loved ones and your investment.