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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.

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4.8 Stars
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Our Reviews

Excellent
4.8
Based on 481 reviews
Doris Concepcion
Doris Concepcion
I always get great service from R'ceino and Artmiz that's why I keep coming back to your company for our family's travel insurance. Thank you.
Kathryn Kates
Kathryn Kates
Dornaz eas extremely helpful and a pleasure to deal with.
Etienne Pinto
Etienne Pinto
I dealt with Dornaz regarding our medical insurance during our trip to Europe.Found her to be knowledgeable, polite and patient .
Debbie Cain
Debbie Cain
I appreciate the patience with me and quick and great service. I feel much better now that this part of the process is over
anne chang
anne chang
VERY KNOWLEDGEABLE, HELPFUL, AVAILABLE. GREAT TO WORK WITH!
Cindy Kent
Cindy Kent
Dornaz was the agent that reached out to me. She was helpful and explained the travel coverage to me. I decided to purchase the coverage. She was helpful and patient.
Betty McNaught
Betty McNaught
Dornaz answered promptly. She was knowledgeable and provided exceptional service.
Pamela MacCrostie
Pamela MacCrostie
Sehar Bajwa helped me secure the additional top-up trip cancellation/interruption and baggage coverage (aka the non-medical package) for my upcoming vacation. She was knowledgeable, helpful, and quickly answered my questions. And when our call dropped she immediately called me back. It was a pleasure working with Sehar. She made shopping for and purchasing travel insurance simple and easy. Allianz (aka Alliance Income Services Corp) has the best value for travel insurance.
Brenda Ciolfi
Brenda Ciolfi
I've just purchased comprehensive travel insurance from Agent Sehar Bajwa. What a pleasure to work with her. Sehar's professionalism and patience were outstanding start to finish!! Communications, documentation and follow-up were very clear.
Chris Penny
Chris Penny
I’ve had the pleasure of dealing with Sehar Bajwa for all my travel insurance needs. She is unfailingly pleasant and professional. I will continue to count on her knowing that I’m in very capable hands.
Ingrid Swenker
Ingrid Swenker
Excellent service from Sehar Bajwa. Not pushy answered questions and got the policy to me quickly. Thank you
Lynne Fulcher
Lynne Fulcher
Sehar was very helpful. Made the process painless!
estolte
estolte
Sehar Bajwa was the agent with whom I spoke. She was very helpful and efficient. I was also quoted Travel Cancellation and Interruption Insurance by two other agents at different companies. I went with Sehar because she provided me with the most thorough information and an excellent rate.
steve R
steve R
Wow what a great experience these guys are so knowledgeable.
Parfiano
Parfiano
I recently had the pleasure of working with Dornaz at Allianz global assistance who helped me secure health and dental insurance, and I couldn't be more satisfied with the experience. From the moment we started the conversation, she was incredibly knowledgeable and attentive to my needs. She took the time to explain all my options clearly, ensuring I understood the details of each plan.What stood out the most was Dornaz’s patience and willingness to answer all my questions, no matter how small. She made the entire process smooth and stress-free, guiding me through all the process and making sure I felt comfortable with my decision. Thanks to her expertise, I feel confident that I chose the best health insurance plan for my needs. I highly recommend Allianz Global assistance services to anyone looking for reliable and friendly assistance in navigating health and dental insurance options! From my experience, Allianz Global assistance is the best insurance company outta here!
Tom Smith
Tom Smith
Agent was very pleasant and efficient in providing an immediate quote
John MacDonald
John MacDonald
I was researching for a travel emergency medical plan for seniors. Allianz was on my list but I hadn't made contact as yet. I received a call back from Ummi Hanny of Alliance as a result of one of my queries and I'm delighted with the result. She listened and guided me through the process with great skill, knowledge and understanding. She forwarded a quote and afforded me time to consider the offer over the weekend and we would reconnect early the next week. This also gave me time to continue my research with a better understanding. which I much appreciated.We spoke on Tuesday and concluded the signing of the coverage offered through Alliance. It was the best plan for me, coverage wise, duration and financially. The fact that Alliance is a European based company is a plus as that is where I'm traveling as well as non U.S, based.Ummi's engaging style lead to these discoveries for me. She was attentive, knowledgeable, personable and genuine. She represents her organization extremely well and I would not hesitate to recommend Alliance and/or engage your service in the future.SincerelyJohn S. MacDonald
Eva Young pow
Eva Young pow
Sehar Bajwa was very efficient, professional and knowledgeable. I was extremely pleased with her prompt service and pleasant personality.
Beth Foster
Beth Foster
Your customer service caller was so helpful. I felt confident going ahead and signing up for health insurance for my upcoming trip. Thank you for your patience and friendliness during the call. I feel better about spending a few days in the United States knowing I have health coverage.
Evelyn Dickson
Evelyn Dickson
I went online for a quote. Then Sehar called me with a quote.Sehar was wonderful. So professional and easy to understand.It was a delight speaking to her. Also the price was the best.
krystyna Harasymowicz
krystyna Harasymowicz
Artemiz Namazi was very professional, patient, and friendly while helping me purchase medical insurance for myself, my husband, and my son.
Miriam Assouline
Miriam Assouline
I had a wonderful experience with this company! Ummi was incredibly helpful, professional, and kind throughout the entire process. She made everything so easy and stress-free. I truly appreciated her support and would highly recommend her to anyone. Thank you, Ummi!
Fern Michel
Fern Michel
Recently purchased Trip Cancellation /Interruption Insurance from them. Say their advertisement on Facebook. The company was easy to deal with and provided information to make an informed decision. Despite not be able to deal with my initial contact person, Artmiz was very attentive, helpful and thorough. The rating given was earned
Joe Kilford
Joe Kilford
Shana and George at Alliance were amazing to work with. They were very friendly and prompt in all transactions.
Theepan Moorthy
Theepan Moorthy
Sehar Bajwa she is very good helpful. Travel insurance very good purchas price .
Robert Grills
Robert Grills
As seniors in our + 70s we know travel medical insurance can be costly without taking out a mortgage. Fortunately our health is better than most our age or even some younger and understand Insurance Underwriters and Acturaries go by statistics. The agent we talked to Karen Write was absolutely patient and helpful. We were pleasantly surprised by the quote she gave, as the quote we had from another carrier was about 3 times more. Naturally we went with Karen Write at Alliance. We can't thank her enough for being so patient, undestanding and helpful. If in the future we are fortunate, health wise, to continue to travel we will definitely call Karen Wright at Alliance. CUDOS to Karen Wright
Edwin Drewlo
Edwin Drewlo
Clear Communication and assurance of service
Nadir Habib
Nadir Habib
i was very impressed with sehar prompt response and helped me through with me getting what i needed
Judy Howard
Judy Howard
Sehar Bajwa was very competent and helpful. I have dealt with her for 3 years and I always get the same quality service when purchasing travel insurance from her.
Danny Swain
Danny Swain
I have just worked with Dornaz Samiei in purchasing trip insurance, and she was informed, efficient and friendly. I couldn't ask for more. Thanks.
Kelly LePage
Kelly LePage
Sehar Bajwa was extremely helpful while we were searching for travel insurance for our upcoming trip. Sehar provided all necessary information and setting up the required insurance was very easy and well-priced
I R b
I R b
Geting tarvel insurance,all process to finalaize our insurance documents was pleasent because friendly (not puschy)and very profesional lady Sehar Bajwa thank you SEHAR
Len Hirsch
Len Hirsch
Simply an Amazing Individual. The Reason I buy my Insurane from.Allianz!!!!Thank You Dornaz!
Susan Madden
Susan Madden
Dornaz was very helpful and responsive to my requests which I really appreciate!
Susan White
Susan White
Thank you Dornaz Samiei for the above service you gave me today. You have so much knowledge and patience.
anne johnson
anne johnson
Great help by Alliance Sehar was a great help.
Maida Kellgren
Maida Kellgren
Dealing with Dornaz was such a pleasure. Great customer service!
Donna Hemming
Donna Hemming
Azita was very helpful and patient with me as I was trying to make my travel insurance choice. She called me back about 3 times and when I was finally ready, she was away and Dornaz was equally helpful in completing my application. I would recommend this company!
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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.

How to save money image of Policy Rates

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

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.

Mortgage Life Insurance Quote Form

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