Mortgage insurance helps people avoid having their loans become a burden on them and their loved ones in the event of disability or death.
It is an excellent complement to wage-loss insurance. In fact, the latter often covers only two-thirds of the insured’s usual salary, while his mortgage payments, which are a major expense for him, remain the same. In the event of death, the amount of the benefit paid by the insurer corresponds to the insured portion of the mortgage balance.
In the event of disability, the insurer covers the insured portion of the monthly mortgage payments, up to an eligible maximum.
Contact us and let us explain the advantages of individual mortgage protection over mortgage insurance offered by a lending institution.