Term life insurance is most often the product of choice for people who are searching for mortgage life insurance.

Learn important policy features that are provided in term insurance and not offered in lender's mortgage life insurance.

Term insurance provides 2 important policy features that are not offered in a typical bank mortgage insurance.

Learn how not having these guarantees may adversely affect your insurance coverage down the road.

Most important, who owns the mortgage insurance?

The owner is entitled to make important decisions regarding the insurance coverage.

Cost; how much does the insurance cost and what will happen to the price over time?

Life Insurance quote to insure your mortgage

Appropriation of the life insurance policy is key, because the policy owners are entitled to make policy changes to their life insurance protecting their mortgage.

Term insurance provides 2 important policy features that are generally not provided in bank offered mortgage insurance. Learn how not having these guarantees may adversely affect your insurance coverage down the road.

Most important, the ownership of the insurance policy is key. The policy-owners are entitled to make important modifications regarding their coverage, if required.

The price of insurance, how much does it cost and what will happen to the price over time?

Advantages of owning your mortgage life insurance coverage

You get to keep the life insurance plan should you decide to refinance a loan or change lending institution.

The benefits and prices are guaranteed for the duration of the predetermined term of your choosing, for example 25 years.

The policy owners (the insured) can request an amendment or terminate the coverage at their convenience.

How do insurers determine cost

Most banks charge a fixed premium during your loan repayment period. You pay a fixed premium even though the loan amount decreases. The bank insures the loan balance therefore the insurance becomes more expensive as you pay down your loan.

Desjardins, calculates the premium as a percentage of the loan balance. The additional rate of interest is then added to the interest you pay on the loan. When you renegotiate your loan, you will also need to renegotiate the terms of insurance. Premiums generally increase substantially during the mortgage reimbursement schedule.

Term insurance provides the most cost-efficient solution. The insured pick a predetermined term of their choice. The premium and amount insured remain fixed throughout the duration of the mortgage. The life insurance provides more value for your money. Should you decide to reduce the sum insured over time the premiums will be reduces accordingly.

Protect the future your building, get a life insurance comparative quote and make an informed decision.

Groupe Financier Unibec is a Montreal based insurance agency serving Quebec residents since 2004. Let us help you, sort out your life insurance.

  • We do not work for a particular insurance company but rather work with numerous insurance providers, giving us a free hand in presenting clients with the best insurance proposals.
  • With banks, the loan advisor offers you the mortgage insurance but is not licensed with the A.M.F.
  • Financial Security Advisors (life insurance advisors) are licensed with the A.M.F.
  • My name is Tony Iannacci and I have 20 years plus experience in the insurance profession.
  • I offer free comparative quotes and advise, no pressure to move forward- you decide.
  • Why risk paying more!
advantage of term insurance to insure your mortgage in case of death

My brother referred Mr. Iannacci to me. I purchased a home and took the insurance with my bank. We took a joint term insurance and saved 40%. I recommend Mr. Iannacci, great service, a people person.

Martin Trudel

I was introduced to Group Financier Unibec via the internet, hesitated to meet with an agent. I'm glad I did, I got a family term insurance plan and saved money. Good job!

Sebastien Boileau

Life insurance matters to the ones you'll leave behind.

Are you considering life insurance to insure your mortgage or are you planning to buy mortgage insurance with your bank?

We'll compare your options and provide you with the necessary information to make an informed decision

mortgage life insurance quote Montreal, Laval, Mirabel