Mortgage Life Insurance

Defining Mortgage Life Insurance

Mortgage life insurance is a form of insurance specifically designed to protect a repayment mortgage. If the policyholder(s) were to die while the mortgage life insurance was in force, the policy would pay out a capital sum that will be sufficient to repay the outstanding mortgage and thereby clear the title of the mortgage, rendering the house free of the mortgage that is insured. This insurance is designed to protect the borrower’s ability to repay the mortgage for its lifetime and avoid leaving family or dependants with the burden of the entire mortgage amount and regular ongoing payments. This is in contrast to mortgage default insurance, which is meant to protect the lender against a risk of default on the part of the borrower.

Give your family security and peace of mind

Shane can help protect your family and home through mortgage life insurance. Mortgage life insurance is a life insurance policy on the homeowner(s) which will allow their family or dependants to pay off the mortgage on their home should something tragic happen to them. Without insurance, dependants may be left unable to make the mortgage payments and be forced to sell or face foreclosure.

Often the unexpected happens and families across the country are left struggling with a mortgage they can no longer afford, leaving them to worry and stress over the family finances. Not to be confused with mortgage default insurance, which lenders require to cover their own assets if you have less than 20% equity in your home, this insurance is meant to protect the dependants of a homeowner and not the lender.

Mortgage Insurance

Mortgage life insurance is insurance designed to provide financial security for your loved ones in the event of a death of the policyholder(s). Additional coverage also exists for total disability coverage, allowing you to have peace of mind that your payments will be covered in the event that you are unexpectedly sick or injured and unable to work to make your regular mortgage payments. Both mortgage life and disability coverage are recommended by Shane and his team and they have partnered with trusted insurance providers to provide their clients with exceptional coverage.

None of us plan on getting sick, injured, or death, but it doesn’t mean we shouldn’t give ourselves and our loved ones the security and peace of mind that mortgage life and disability insurance can provide. Affordable and comprehensive, this insurance can ensure that your family members or dependants are left living in their own home in the event of death or that your mortgage payments will be paid in the event that you become ill or injured and are unable to make your regular mortgage payments. As important as constructing your mortgage is, so is protecting it. Always buckle up your mortgage.

Inquire about mortgage insurance

Contact Shane and his team now to learn more about mortgage life insurance and the many benefits it can provide to you and your family or dependants, including security and peace of mind for their financial wellbeing in the event of unforeseen tragedy.

Shane can complete your application entirely online or over the phone, as well as in person. Shane offers a variety of options to connect with you and works around your schedule, allowing you to indicate the best time and method for him to contact you.

Benefits of Mortgage Life Insurance

Paid in Full

In the event of death for the policyholder(s), the insured mortgage would be paid in full. As a result, the regular mortgage payments and total balance due would not be payable by surviving family members or dependants.

Disability Coverage

Coverage options exist for not only coverage in the event of the death of policyholder(s), but also disability or severe illness. Giving you even more security and peace of mind if an accident or tragedy occurs.

Easily Qualify

Most insurance providers for mortgage life and disability insurance will provide instant coverage, without extensive health checks or countless examinations and background checks.

Inquire about affordable mortgage life insurance

Shane can assist homeowners in arranging mortgage life and disability insurance as he and his team work in partnership with trusted insurance partners. When approved, these products can give homeowners security and peace of mind knowing their mortgage is covered.

Protecting the financial interests of my clients is my number one priority. As such, I always talk to them about purchasing trusted mortgage life insurance and whether it makes sense for them. By evaluating the different products available and their costs, we can make the best decisions for them, their families, and their overall financial health, including possible changes in their finances due to unforeseen circumstances.

― Shane Osmond, Mortgage Professional