|
 What
is Mortgage Insurance?
What is Mortgage Default Insurance? Mortgage Insurance protects a lender in case there is a default in mortgage by the borrower. In Canada this sort of insurance is typically needed for mortgage loans with down payments smaller than 20% of the property value. IIn Canada there are three companies offering mortgage default insurance: : What Is Mortgage Life Insurance?Mortgage Life Insurance can pay off the outstanding balance on the insured mortgage in the event of your death. Mortgage Critical Illness Insurance can pay off your outstanding mortgage balance in the event you are diagnosed with severe illnesses such as heart attack, stroke or life threatening cancer, providing you and your loved ones with a “living” benefit.. Mortgage Disability Insurance can pay your mortgage payments should you become disabled and are prevented from performing the normal duties of your job due to accident or illness. |
c. 2009-2011
Debbie Braden, Invis Inc.
Invis Inc.
Mortgage Brokerage Licence #315928
Mortgage Broker
Licence #315875
H.O. 5770
Hurontario St.,|Suite 104| Mississauga| Ontario| L5R 3G4
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