Get Mortgage Life Insurance Rates in Minutes

Honest Rates. Dependable Coverage.

As a homebuyer, Mortgage Insurance is mandatory if your down payment is below 20%, but it provides a crucial benefit of ensuring your family will have a home in the unfortunate event of your passing.

4.8 Stars

Our Reviews

Excellent

4.8

Based on 642 reviews

dale FlyGuy

Dornaz is very polite and professional her assistance in obtaining travel insurance was extremely helpful. Dornaz is our go to travel insurance advisor.

Susan Carr

The agent was very pleasant and knowledgeable. Dornaz had my qoute ready quickly and was very easy to deal with.

CHERYL SMITH

Muhammad was very helpful

Isabell Phelps

The agent who provided me with the information I needed and walked me through the procedure for getting the travel insurance was Ofir. He was most helpful. Thanks.

Carol Shogilev

I was impressed with your representative. She was patient, informative and helpful. I was a novice at obtaining travel insurance and Sehar guided me through the whole process. Would recommend her to anyone asking me for a travel insurance recommendation.

miles clarke

Excellent service and Dornaz was extremely helpful for getting my son travel insurance to the US.

I found Artmiz from Alliance Income Service, who assisted me and she is very helpful, friendly, knowledgeable. I have been purchasing several travel insurance from her. Never had I run into a problem and she actually helped me to connect with insurance while I was in outside the country. I highly recommend her. Thank you Artmiz for helping to find a lowest rate. It was a pleasure doing business with you.

Al MacNeil

After checking with 5 other travel/accident/ health insurance companies, I chose Alliance Income due to the extent of coverage as well as price which were best in class. In particular Karen Wright-Ebanks was excellent. She took the time to clearly explain all of the features and followed up. We will definitely be using this company and working with the same agent again.

Patti Brewin

Sehar provided a quick response to my request for a travel insurance quote and then proceeded to assist with booking and payment. Thank you Sehar!

Marge Rusnak

I can honestly see I was worried about getting travel insurance for myself and finding a reasonable price❣️😊 I didn’t have to ask her to look into other companies for pricing to compare. She just automatically did and I couldn’t be happier with going through this company. I would recommend it to friends and family.❣️😊

Don LeBlanc

I request quotes from the company re travel insurance and dealt with agent, Theresa Heuser, she was very informative and knowledgeable of the packages offered by Alliance Income Services. She made my inquiry very easy and straight forward to understand.

marilyn campbell

Your employee Dormaz was amazing. Very helpful explaining the coverage I purchased and the amount charged. She was very prompt in getting back to me.

Bets Roos

Outstanding service! Excellent, prompt, friendly and knowledgeable travel and medical insurance service given by Ofir throughout various interactions.Thank you very much, Ofir, your assistance is highly appreciated!

Marilin MBrace

Dornaz was very professional, knowable and friendly.

Debbie Stevens

Polite, helpful and efficient with a sense of humor. Great person to help customers.

Z. H.

Karen was very helpful in this process.

Cathleen Seamone

It was a pleasure talking to Karen Wright in ordering to purchase my travel insurance.She was very pleasant and knowledgeable.Thank you! Catherine (Cathleen Seamone)

Charles Boole

Sehar Bajwa gave me fantastic service for Medical Travel Insurance.She was knowledgeable about the products she had and which ones's suited me. Even though I changed the dates of travel for a single trip a few times she was patient with me and gave me exactly what I wanted.If you ever want Travel Insurance ask for Sehar Bajwa.A More Than Satsified Client

Marian Avery

Very easy process to book insurance by Ofir.

Steve Shin

Ofir provided exceptional service in helping me secure emergency travel medical insurance. I had some very technical questions regarding top-up coverage and stability periods, and Ofir answered all of them clearly, promptly, and professionally. He made a potentially stressful and confusing process completely seamless and ensured I had the exact, safe coverage I needed. Thank you, Ofir, for the outstanding support and peace of mind!

Christiane Delon

It is the second time that I deal with Karen Wright to insure my trips and I am very happy with her service. She is competent, efficient, profesional and very courteous. I'll will call her again for my next trip.

Sara Raizel

Process was quick and easy, Ofir was pleasant and knowledgeable and helped me out start to finish in just a few minutes. For a future trip I will probably get other extended coverage as well, as for this trip we bought only medical and indeed unfortunately needed it

Rhonda Handlechner

Dornaz was knowledgeable and easy to deal with. She gave me a rundown on the policy and made me feel at ease.

Mimi Alam

Excellent customer service, professional and courteous. Thank you Karen Wright.

warren faleiro

Very helpful and easy to do business with. I needed travel insurance and got lots of quotes to compare. Purchase was painless and fast

Laura Courtney-Clarke

Thank you Karen Wright, for your very fast, efficient service to obtain my travel insurance. A quick medical questionnaire to complete, payment done, and I had it in my inbox ready to print. Effortless ! A good choice !

leslie mcculloch

Sehar was very knowlegable, understood my needs and was very helpfull setting me up with my coverage as well as explaining the contract. It made the whole process go very smoothly.Les McCulloch

Valerie Roth

Dornaz is great to deal with. She made me feel that no question was a dumb question. Very helpful.

Larry Kellock

Karen Wright provided outstanding and timely service setting up the policy for our trip. Nice to have a piece of mind at a reasonable price for our trip

L.M.

Always a positive helpful experience with Dornaz. For all your travel insurance needs i would definitely recommend Dornaz with Alliance Insurance

Juliet Stephens

Karen was very efficient and friendly. She explained details in a very respectful way and we would be happy to deal with her in the future.

Bernie Lehmann

It's always a pleasure to deal with Karen Wright. She is always very helpful and courteous.

Bobbie Violante

Karen was very helpful and great to talk to. I would definitely recommend her to any of my friends wanting insurance.

mary Mulder

I just want to say that my experience with Muhammad sorting out my trip cancellation insurance was the best I could have hoped for - he is patient, knowledgeable and answered all my questions.

T Rum

Karen made this experience so easy and less stressful than I thought it was going to be. She was very professional and was able to answer all of my questions thoroughly and made me feel a little confident that I was getting a good product from her.

Selina Allen

I wanted to thank Dornaz on being very helpful for answering all my questions. She was very polite and patient. I had a a lot of questions.

haitham saadedin

I bought health insurance to my company emloyees, and luckily I dealt with Teressa, She was amazing, understanding so helpful.did not bother her I made some changes and mistakes she kept working with me guide me spontaneously , its like we were sitting in same office ..kept going and get the job done as I like, Thank you Teressa, Thank you Alliance income Services

June Caine

Once I was able to get through on the phone, Karen was excellent. She was very friendly, patient and informative. She worked things out with me until she found the policy that I needed.

Magda Mahdy

Knowledgeable, curtis and efficient. I am very pleased with Karen expertise and professionality. Definitely I will use her service again.

Joe Wery

Sehar Bajwa was knowledgeable and provided explanations for all insurance coverage. Process was simple and easily done over the phone.

What is Mortgage Life Insurance?

If, for whatever reason, you are no longer able to make payments on your mortgage, Mortgage Insurance will cover the missed payments so that you can avoid the foreclosure of your property. Your policy premium payments will stop only once your mortgage is fully paid off.

You will also have the peace of mind that in the unfortunate event of your death, your family will not have to worry about paying the mortgage or searching for a new home. However, the policy payments will always go straight to the financial institution you hold your mortgage with, and not your family.

Is Mortgage Insurance required?

Yes and no, as it depends on your down-payment amount. If you put down below 20% of the property’s value, Mortgage Insurance will be required by the lender to protect them in case you default on your loan payments.

A 20% down-payment is unattainable for many new home buyers, especially due to the rapidly rising housing prices. The minimum down-payment in Canada for first time buyers is 5%, which is what most people choose to pay. If the value of your desired property is above $500,000 but below a million, you will have to pay 5% of the $500,000 plus additional 10% of the remaining amount. Properties valued at one million or above require a 20% down-payment and do not qualify for mortgage insurance.

Purchasing a Mortgage Insurance provides security to your lender, which enables them to offer sustainable interest rates on your loan.

How is Mortgage Insurance cost calculated?

Your Mortgage Insurance cost will always depend on the desired property’s value and your down-payment amount. The lower the value of the property and the bigger the down-payment, the lower Mortgage Insurance cost will be.

How to Save Money on Mortgage Life Insurance?

The best way to save money on insurance is to shop around and compare rates from different providers. This can be an exhaustive and time-consuming process. Thankfully, Policy Rates takes care of it for you! When you request a quote through our website, we check what rates you can get from every major Canadian insurer.

Policy Rates provides you with the lowest rates for the level of coverage that you desire from top insurance companies.

20% Down Payment

Completely avoid the need for Mortgage Insurance if you can muster up a 20% down payment on your desired property.

Down Payment Percentage

Even if 20% down payment is out of reach, try to contribute an extra amount to reach a new down payment percentage bracket. The more money you put down, the lower your Mortgage Insurance will be.

Shorter Amortization Period

Your mortgage amortization period is the total amount of time it takes to completely pay off your mortgage. Opting for a shorter term, you will have higher monthly payments, but you will pay it off sooner and stop making mortgage payments.

Pay Above Your Monthly Payments

Whenever you can afford it, make extra payments on your mortgage loan to pay it off early. Your Mortgage Insurance payments end as soon as your mortgage is paid off.

20% Down Payment

Completely avoid the need for Mortgage Insurance if you can muster up a 20% down payment on your desired property.

Down Payment Percentage

Even if 20% down payment is out of reach, try to contribute an extra amount to reach a new down payment percentage bracket. The more money you put down, the lower your Mortgage Insurance will be.

Pay Above Your Monthly Payments

Whenever you can afford it, make extra payments on your mortgage loan to pay it off early. Your Mortgage Insurance payments end as soon as your mortgage is paid off.

Shorter Amortization Period

Mortgage Life Insurance Quote Form

All Products Form (#3)

First Name

Last Name

Contact Number

Province

Product

Age

Company Name

Employee Count

Do you currently have benefits?

By clicking on 'Get Quotes' button, you agree to our Terms of Use and Privacy Policy. 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.

Referrer

4.8 Stars

Menu

Get Mortgage Life Insurance Rates in Minutes

Honest Rates. Dependable Coverage.

Our Reviews

What is Mortgage Life Insurance?

How to Save Money on Mortgage Life Insurance?

20% Down Payment

Down Payment Percentage

Shorter Amortization Period

Pay Above Your Monthly Payments

20% Down Payment

Down Payment Percentage

Pay Above Your Monthly Payments

Shorter Amortization Period

Mortgage Life Insurance Quote Form

Get Updates and Stay Connected - Subscribe to our Newsletter

Why Choose Us

Insurance Services

Resources

About Us

Services

Resources

About Us

What would you like to save money on?

Need an Urgent Quote?