Purchasing a home is one the biggest investments you’ll make in your life. It is therefore essential to find mortgage insurance that is adapted to your situation. There are many advantages to insuring your loan with us that your loaning institution doesn’t offer:
Cover your mortgage and all your loans
Pick-A-Term is mortgage insurance that covers all of your financial commitments under one policy. It’s a simple solution that adapts to your needs. You can choose exactly how long you want your insurance term to be, from 10 to 40 years, and your premiums won’t increase.
You also have the option to convert your term insurance into permanent life insurance at any time.
For repaying your debts in the event of disability
Universal loan insurance is a preferred solution because it allows you to repay the balance of your debts, in part or in full, while you are on disability. This coverage is also offered to tenants.
| Pick-A-Term | Universal loan insurance | Lending institution | |
|---|---|---|---|
| Duration of coverage | 10 to 40 years | 2 years, 5 years or up to age 65 | Ends if you change your lending institution |
| Guaranteed renewal | Up to age 65 | Ends if you change your lending institution | |
| Option to convert to permanent life insurance | - | - | |
| Coverage offered to tenant | - |
