Mortgage protection insurance is an insurance policy that pays off or pays down your mortgage if you or another policy holder dies or becomes critically ill during the term of the mortgage. If you have a joint mortgage, both people can get mortgage protection insurance. It generally runs for the same length of time as your mortgage. So, if you take out a mortgage over 20 years, your mortgage protection insurance can also be in place for 20 years.

Mortgage Protection Features you’ll enjoy:

• Coverage up to $500,000.
• A guaranteed monthly or annual cost over the entire term of the policy, which is great when it comes to budgeting your money.
• You can waive your premium if you become unemployed.
• Your policy can be converted to a permanent policy with no additional underwriting guaranteed.
• No exam required on some policies up to $500,000.
• Return of premiums paid available on some policies. Great for those people who want their money back if they never use the benefit.

Protect one of your largest investments, your home. Mortgage protection helps protect you from life's unexpected events i.e. disability, unemployment, critical illness, and premature death.

Mortgage Protection could be right for you if:

• You have an outstanding Mortgage on your house
• You need money for mortgage payments if you become unemployed or disabled
• You want your family to live debt free
• Provide your loved ones with additional tax-free income to create an estate