When you buy a house anywhere in Ontario, whether that is Toronto, Brampton, Ajax, Markham or the Greater Toronto Area, you owe a financial institution debt known as mortgage debt. When you decide to protect your mortgage debt, you have options: you can purchase mortgage insurance provided by your financial institution, or mortgage protection incorporating the life insurance and critical illness insurance solutions provided by an insurance company.
The mortgage insurance offered by your financial institution only protects the principal. It basically works by paying off the outstanding principal balance of your mortgage should the mortgage owner die, have an accident or suffer a terminal illness, up to a specified maximum amount. A Life100 mortgage protection plan goes further – providing mortgage protection insurance that protects the mortgage owner, his/her family and his/her dependants.
We work with the top 100 insurance companies in Canada, with expertise especially in Ontario, and will work with you to provide a mortgage protection insurance that works best for you and your family. Call us now for a quote.