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Mortgage Life Insurance

There are very few investments that Canadian families will own more important and more urgent than a home. Mortgage insurance is often bought alongside a mortgage from a lender or bank that promises to repay your loan should you pass away.

However, buying your own mortgage insurance from a reputed insurer is a far safer means to protect home and family alike.

Why is a lender's Mortgage Insurance not a good idea?

  • Under a lender's policy, you do not own the policy and benefits are paid to your bank, not your family;

  • If you change homes or refinance your mortgage, your lender's policy must be renewed at a higher cost;

  • The value of your lender's mortgage policy decreases with time, leaving you with less coverage;

  • The coverage from a lender's policy can't be used to cover other bills, health expenses, or be set aside as a safety net for your family.

We provide mortgage insurance that is always paid directly to your loved ones, with coverage set based on your financial need and not the need of your lender. These types of policies are more secure, more flexible, and altogether more affordable than any policy your mortgage lender can offer.

We offer Mortgage Insurance plans from over 20 of Canada's largest providers. We search the market for the best rate possible, so you are guaranteed to find the lowest possible rate when it comes to securing your home and all those who depend on it.

Expert Answers about Mortgage Insurance
If a person has been diagnosed with severe sleep apnea and is being treated with symptoms are they eligible for mortgage insurance?Sleep apnea is insurable under most qualified mortgage life insurance plans, though with any health issue you will save on premiums by shopping around and receiving quotes from several insurers - rather than just one. Different providers offer differing levels of scrutiny for health issues, such as sleep apnea, while some will see a managed condition more favorably. It's important to work directly with a broker to ensure that you are not paying too much for your mortgage insurance due to a declared health issue.

3 Reasons to Choose LIFC:

  • We work directly with over 20 leading Canadian insurance providers

  • We are able to find the lowest premiums on the market

  • We offer a complete range of plans to suit any need and budget

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