Mortgage Life Insurance
Do You Need Mortgage Life Insurance?
Consider what might happen if you were to die suddenly. Are you confident your home would continue to be a place of refuge for your loved ones? Could they afford the mortgage payments without your income? Is there a possibility they would be forced to sell and move elsewhere?
You can safeguard your family home with mortgage life insurance. A mortgage life insurance policy offers flexible, low-cost coverage. It will give you peace of mind that your loved ones will always be protected and safe in their home.
Benefits of Insurance
- Most insurance products offer creditor protection
- Can protect your family against sudden loss
- Provides an important part of your estate planning
Here’s Where We Can Help!
Our professional financial advisors will prepare an analysis to first help you determine your insurance needs. Then, we help you decide on the protection that is best for you.
Related Information
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Compare Mortgage Insurance Products
Compare Mortgage Insurance Products
You’ll discover many similarities in the coverage provided by bank mortgage insurance and personal mortgage insurance. However, there are also significant differences in coverage and costs.
Compare personal mortgage insurance vs bank mortgage insurance
Personal Mortgage Insurance Bank Mortgage
InsuranceTotal comprehensive coverage, including the mortgage, line of credit, and credit cards Covers remaining balance of an existing mortgage The beneficiary of the insurance can be who you choose The bank (lender) is the beneficiary of the insurance
Your coverage reduces as the mortgage balance decreases Your coverage reduces as the mortgage balance decreases Coverage is portable when switching to new lender Premiums do not decrease Not all individuals are approved for coverage Re-qualify for coverage if you switch lenders Underwriting is done when borrower applies for coverage Almost all individuals are approved for coverage In many cases, term life insurance provides better and cheaper coverage Underwriting is done at death of borrow
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Insurance Companies Represented
Insurance Companies Represented by GP Capital Insurance Agency Ltd.
Through GP Capital Insurance Agency Ltd., we offer a wide variety of insurance products from 15 leading insurance companies to satisfy individuals, families and business owners. With every new stage of life comes a need to review your insurance plan.
Life Insurance Companies Represented
ASSUMPTION LIFE HUNTER MCCORQUODALE BLUE CROSS INDUSTRIAL ALLIANCE INSURANCE BMO INSURANCE Humania Assurance Canada Life Manulife Financial DESJARDINS FINANCIAL SECURITY RBC Insurance EMPIRE LIFE Sun Life Financial Equitable Life IVARI FORESTER LIFE Segregated Funds Represented
Invesco Segregated Funds Great West Life Assurance Co. CI Segregated Funds Mackenzie Segregated Funds Canada Life Standard Life Empire Life TD Guaranteed Funds If you have any questions about purchasing mortgage life insurance, send us an email and we would be pleased to help.
Important Information
GP Wealth Management offers insurance products through GP Capital Insurance Agency Ltd.
Investor Protection
Insurance products provided by GP Capital Insurance Agency are covered by Assuris.
Client Relationship Document
We’ve developed a plain-language document that describes the relationship between you and your GP Wealth Financial Advisor or Planner.