Narrate your next chapter exactly the way you want! Protect your mortgage and your family's finances should the unexpected happen.
Please contact your Mortgage Broker.
Simply put, mortgage protection insurance (also known as creditor or mortgage insurance) helps you or your family keep the home you’ve worked hard to achieve if you pass away, are diagnosed with life-threatening cancer, heart attack or stroke, or if you were suddenly unable to work due to illness or injury.
As the insured mortgage holder, in the event of death or diagnosis of one of the covered critical illnesses, your insured mortgage balance, including any discharge fees and penalties, would be paid directly to the lender. If you were unable to work due to injury, your insured mortgage payments would be made directly to the lender until you are able to return to work. The maximum amount and number of payments, and other terms of coverage will be specified in your certificate of insurance provided on enrollment.
You can apply for Simplinsur Mortgage Protection directly with your Mortgage Broker within the M3 Group. The cost of insurance or the premium will depend on the coverage you enroll for.
You will need to fill in a separate application for insurance and may need to answer a few health questions. However, in many cases you may even automatically qualify for coverage.
If you decide to cancel your insurance later, you’re free to do so at any time.
Lower your premiums every year if you have paid down your mortgage by over 5%. Contact your Mortgage Broker to take advantage of this benefit.
Bundling coverage is a great way to save. You save when two applicants purchase life or life and critical illness, and when disability is purchased with life.
If you are a smoker, you are eligible to have your situation reviewed for a premium reduction if you have been smoke-free for 12 consecutive months.
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