Since buying a home is likely the largest purchase you will make in your lifetime, it makes sense to take extra effort to protect it. Approximately 45% of Canadian home owners don’t have life insurance to cover that investment. If they were to die, their spouse and their children could lose the home due to an inability to pay for it. With mortgage life insurance, the investment will be protected. The family won’t have to worry about trying to find a new place to live.

While no one wants to think about themselves or their spouse dying any time soon, it can happen. It can give your entire family peace of mind knowing there is coverage in place to pay for the family home should there be a medical issue or an accident that results in death. Make sure the mortgage life insurance continued when you decide to refinance or you need to renew your mortgage. You can change lenders and your overall loan, but you won’t have to redo that insurance policy.

The cost will be locked in from the time you purchase the mortgage life insurance. You don’t have to worry about the cost going up due to the economy or your age. There is also disability insurance to consider. This covers should you have an issue that prevents you from working or reduces the scope of the work you used to do. Such issues can reduce the household income and this coverage can help you have the money you need to pay that monthly mortgage.

It doesn’t hurt to find out about the coverage you qualify for and the cost of it. The price will be determined based on variables including your age, your spouse’s age, and the amount you owe on your home. Getting such a policy in place is very important. While it is optional, you should make it a priority to ensure your family can protect your home investment.


Your Dominion Lending Centre mortgage professional can walk you through the ins-and-outs of mortgage life insurance, the applicable costs, as well as provide you with instant coverage and a money back guarantee, just in case you choose alternative coverage and cancel your policy within 60 days.

Talk to your Dominion Lending Broker or Agent today, and make the simple choice to protect your mortgage with life and disability insurance today.