Homeowner’s Insurance provides coverage against losses on the physical home and its contents, along with personal liability coverage.

Mortgage Life Insurance pays off your outstanding mortgage balance in the event of your death.

Mortgage Critical Illness Insurance also pays off your outstanding mortgage balance in the event you are diagnosed with severe illnesses such as heart attack, stroke or life threatening cancer.

Mortgage Disability Insurance pays your mortgage payments should you become disabled and are prevented from performing the normal duties of your job.

In the case of life, critical illness, or disability insurance, in deciding which products are appropriate for you, it is helpful to ask questions, such as:

• Is the insurance portable? With insurance that’s portable, there’s no need to re-apply for coverage if you happen to switch lenders, or move the mortgage to a new home.
• Can you cover more than two individuals with the same policy at a reduced cost? This is important when guarantors are required for you to qualify for the mortgage.
• Is pre-closing coverage available? With coverage that begins as soon as your insurance application has been accepted, you are protected in case an unexpected event occurs prior to the mortgage closing date.

Your financial picture changes significantly when you get a new mortgage. This creates a need for insurance coverage to protect your new investment and your family’s future.