Mortgage Plan: Disability Insurance

Mortgage Plan: Disability Insurance logo

The Right Protection for your Mortgage when Disabled

Protecting your mortgage and equity line of credit is of utmost importance and priority. Most people find it difficult to protect and keep their mortgage due to disability or critical illness condition. But if you really want to protect your mortgage, it might be important to take advantage of the right disability mortgage insurance plan to continue funding your mortgage even when disabled. To be eligible for mortgage life insurance coverage, the insured must be between the ages of 18 and 65 (both inclusive). You have an option to choose to protect your investment up to $6,000 each month either for the duration of your loan or 24 months. It is also required that you contract or be contracted a mortgage loan or equity line of credit for buildings like principal residence, second residence, building with income and buildings for commercial usage.

Features and Benefits

The benefit amount for the Blue Cross Mortgage life insurance is expected to be less than or equal to the amount insured approved by the insurer at the commencement of the contract and the outstanding balance of the mortgage loan or home equity line of credit. Some other benefits involved in this plan include accelerated benefit, simultaneous death benefit, and so forth.

  • To be eligible for mortgage life insurance coverage, the insured must be between the ages of 18 and 65 (both inclusive).
  • There are options to choose coverage to protect your property and investment up to $6,000 each month either for the duration of your loan or 24 months.
  • It is also required that you contract or be contracted a mortgage loan or equity line of credit for buildings like principal residence, second residence, building with income and buildings for commercial usage.
  • The benefit amount for the Blue Cross Mortgage life insurance is expected to be less than or equal to the amount insured approved by the insurer at the commencement of the contract and the outstanding balance of the mortgage loan or home equity line of credit.
  • The waiting period and benefit period for this plan can be used to customize the insurance plan to your exact specification.
  • The plan has two benefit periods, namely, 24-month benefit period and duration of the loan.

 

 

Additional resources

Learn more about your disability insurance options from these informative articles.

Insurdinary provides a comprehensive quotes comparison sends straight to your inbox so you can start comparing health coverage in minutes. See plans from several major Canadian insurers to choose the right option for you. Our customer health specialists are also available to address your questions and concerns.

For more information, you may contact us at 1-877-574-7475, or complete the form below.

By clicking on Get Quotes Now, you agree to our terms and conditions. You provide consent to be contacted for the purpose of being provided information, rates and details on any product from any insurance company or financial institution. You can unsubscribe at any time from this service.

Facebook Rating
4.9
Google Rating
4.9
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram