Mortgage life insurance
You can contact us at any time, and we’ll be happy to provide expert advice to help you find the mortgage life insurance policy best suited to your financial needs.
Life and health
Mortgage life insurance broker
Mortgage protection: mandatory?
Most banks in Quebec require that mortgage loans be accompanied by some form of protection. Homeowners are faced with two choices: take out life insurance linked to their mortgage, often provided by the bank itself, or take out independent life insurance, which includes coverage for their mortgage.
Both options have advantages and disadvantages, but generally speaking, it’s better to take out independent life insurance.
Mortgage life insurance offers many advantages, the most important of which are its flexibility and terms. By choosing term life insurance, for example, and linking it to your mortgage, you can choose not only the sum insured, but also the duration of your insurance coverage.
It is generally recommended to take out term life insurance to cover, for example, the duration of a mortgage repayment, i.e. 20, 25, 30 or 35 years. This insurance also makes it possible to avoid tax liability in the event of death. The amount paid out to the beneficiaries of your insurance policy is tax-free. It’s therefore a very interesting operation in terms of inheritance tax.
Assurancia: mortgage insurance experts in Quebec
You can contact us at any time, and we’ll be happy to work with you to find the mortgage life insurance policy best suited to your financial needs. We know the mortgage life insurance business in Quebec inside out, and we’ll be able to expertly guide you in your choice.