Insurance Overview

What you need to know to protect your home and those you love.

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Purchasing your home is one of your most important investments.

PROTECTING YOUR INVESTMENT IS EQUALLY IMPORTANT.

 

Mortgage Insurance

Mortgage Insurance protects the lenders in case there is a default in mortgage from the mortgagor. In Canada, the lenders are only allowed to fund mortgages to 80% of the sale price, or house value. To provide funding for mortgages with less than 20% down, up to 5%, the mortgage must be insured by one of the three companies listed below.  The larger the down payment, the less the insurance premium.  Ask us for particulars.

In Canada there are three companies offering this kind of insurance:

They all have almost similar products and also offer unique products for self employed people.

 


Life Insurance

Canada Life Insurance is available, however is not mandatory. Acceptance for coverage is based on the information you provide on your mortgage application.

You can choose between three types of coverage:

Mortgage Life Protection

Mortgage Critical Illness Protection

Mortgage Disability Protection

 

Click here for more information about Canada Life Insurance.

 


Home Insurance

Home insurance is an important part of your mortgage; lenders require it before advancing funds. When you’re shopping for home insurance, check out the competitive rates Unitas has to offer.

When your home insurance comes up for renewal, do a “value check” to make sure you’re getting the best product at the best price.

Give Unitas  a call and see if they can “do better.”  No obligation.

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