Here’s why I strongly recommend this optional Mortgage Insurance:
60-day money-back guarantee
Review your coverage in detail for 60 days. If you change your mind within the first 60 days, you will get your money back.
Coverage can start immediately
No waiting. Your coverage can begin as soon as your application is successfully completed.
Coverage moves with you
Moving or changing banks? Your original coverage moves with you.
It’s about more than just insurance.
Your home may be your greatest asset, but at the end of the day, the most important thing in life is family. With the rise of illness,(1,2) household debt at an all-time high (2) and Canadians carrying bigger mortgages(3), financial protection is more important today than ever. That’s why Mortgage Protection Plan® (MPP) was created.
MPP is here for you and your family if the unexpected happens. It can help ensure your mortgage payments are made and your loved ones are taken care of. That’s some certainty in a future that’s uncertain.
of MPP claims are made within the first 2 years of a mortgage.4
1 in 3
Canadians will be disabled for 90 days or more before age 65.5
of Canadian households would have difficulty paying everyday living expenses (like mortgage and housing costs) if the primary wage earner were to pass away.6
of deaths in Canada are caused by heart disease, making it the second leading cause of death in Canada after cancer.2
1 in 2
Canadians will develop cancer in their lifetime. Cancer can affect people of all ages.1
is the average length of time disabled claimants are off work.7
1 Canadian Cancer Society, Canadian Cancer Statistics, 2017
2 Statistics Canada, 2018
3 Manulife Bank Survey on Canadian Home Ownership, 2017
4 Data from 10 years of Mortgage Protection Plan insurance claims
5 Canada Life and Health Insurance Association, A guide to disability insurance, January 2016
6 LIMRA, Canadian Life Insurance Ownership, Household Trends, 2013
7 Mortgage Creditor Claims Reports, 2016.
Manulife Mortgage Protection Insurance
As exciting as buying a home is, it’s more than just a place to live. It’s the place where life happens. Mortgage Protection Plan® is about more than just insurance. It’s about helping to make sure the people you love are protected.
Mortgage Life Insurance*
• Help ease the financial strain on your loved ones with coverage that will pay the mortgage balance if the insured mortgage holder passes away.
• Manulife can provide coverage for up to $1 million per person.
Unique Feature: Life Bridge Benefits mean that Manulife will cover mortgage payments until your submitted life claim is settled. You’ll have the money you need, when you need it.
Total Disability Insurance*
• If you are totally disabled for 60 days or more, we will cover your monthly mortgage payments, so you can focus on getting better.**
• Manulife can provide coverage for up to $10,000 per month for a combined maximum of 24 months.
Unique Feature: You’ll even receive a disability bonus payment to help you get back on your feet once you return to work if you haven’t already received the maximum number of payments.
Who can apply?
• Canadian residents 18 to 64
• You are the borrower, co-borrower or guarantor
• You are applying for a residential mortgage
If you have any questions, contact us today at 604-878-7777
We’ll complete an application form for you. All you’ll need to do is sign, and a representative from Manulife will process your application.