Buying a home in Toronto can be the greatest investment that Canadians usually make. They use their savings as a down payment to purchase a home and need the help of a financial lender or bank to acquire a mortgage. The mortgage payment is one of the huge annual expenses that they incur on an annual basis.
Nearly 75% of Canadian households state that they rely on their primary breadwinner for their everyday expenses, and it would be difficult to pay off their mortgages when the breadwinner passes away. But that’s not the case in many households.
When the primary breadwinner in your household dies, the survivors will find it difficult to make mortgage payments. But our mortgage life insurance is a convenient, simple, and inexpensive way to protect your family. This coverage will pay off the mortgages when the income earner passes away, so you can stay in your home safely.