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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.

4.8 Stars

Our Reviews

Excellent

4.8

Based on 447 reviews

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

Clear Communication and assurance of service

Nadir Habib

i was very impressed with sehar prompt response and helped me through with me getting what i needed

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

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

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

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

Simply an Amazing Individual. The Reason I buy my Insurane from.Allianz!!!!Thank You Dornaz!

Susan Madden

Dornaz was very helpful and responsive to my requests which I really appreciate!

Susan White

Thank you Dornaz Samiei for the above service you gave me today. You have so much knowledge and patience.

anne johnson

Great help by Alliance Sehar was a great help.

Maida Kellgren

Dealing with Dornaz was such a pleasure. Great customer service!

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!

Dawna Shane

Very helpful and friendly people to deal with. Dornaz answered all my questions and helped me with my travel insurance. I would highly recommend this company.

Tina Rhodes

I am very pleased with the service I received from Alliance. Dormaz was my contact. She was very friendly and easy to talk to. She answered all my questions with kindness, patience, and respect. She found me a policy which offered the coverage I wanted at a better price than I had been able to find on my own.

Robert Hamilton

Very friendly and easy to talk with. Dornaz explained things clearly and allowed me to ask any questions.

Frances Heywood

Very friendly and efficient service!

marg marlin

Spent time searching for best options for my needs

Barbara Hanser

Dornaz was extremely helpful to get the right travel insurance for us. She was very friendly and knowledgeable.

Darla Sward

Ummi. Excellent representative. Very pleased.

Gail Campbell

Dornaz was very friendly and professional providing me with travel cancellation/interruption insurance.

hanne sajda

I’m so happy in dealing with Ummi Hanny , she’s absolutely a star, she really helped me finding the right insurance for me.

Denise Morgan-Fell

Great travel insurance Dornaz was very professional.

A. Ron Algate

Very pleasant, efficient and helpful

Brent Clayton

Very easy to set up policy on a ti.ely manner.

Nora from Aurora

The cost quoted was definately comparable to other carriers. My only complaint is that you can never call and get a direct quote. You always have to leave a message and wait for a call back. I find that inconvenient. It took me 2 days to get a quote. It used to take less than 30 minutes.

pradeep mohapatra

Great service by Dornaz

Dennis Wright

Dealt with Sehar Bajwa for travel insurance coverage for Caribbean cruise.Dealt with her for previous policy as well.Was very pleasant and helpful in completing the application.

Noguts

we dealt with Dornaz as our agent. Great service. First time using Alliance but will not be our last. Thank you

Gerald Berezuk

Dornaz was knowledgeable, professional, friendly and took the time to explain things clearly

Genry Garcia López

Thanks to Mia Chen we were able to get our home insurance. She is very professional and safe.

Lily

I reached out to Alliance in my search to get travel insurance for an immigration visa for a family member. Ummi has been great throughout the process. She was available for all questions I had and assisted me in extending the plan as we had delays. I highly recommend her services as an insurance broker.Thank you Ummi!

Dee Tung

Sehar Bajwa looked after all my travel insurance needs in the utmost professional mannerShe was very helpful asking the right questions to help get the insurance that was right for me. I will definitely call her for my next trip to Japan

James Francis

To date everything promised was delivered. If we ever need to make a claim, I will update with our experiences

Pratibha Malavia

Sehar Bajwa helped me with buying travel insurance for my husband. She was amazing!! The process was fast and painless. This was first time buying travel insurance and I was little leery about it but Sehar was very helpful in answering all my questions and she was very patient and caring. Thank you Sehar for making it so easy for me and it was pleasure dealing with you.

Suzanne & Roy Cormier Palmer

A fantastic experience! Sehar could not have been more helpful and competent. It was a real pleasure with someone so efficient and patient. I have already recommended Alliance Income to some friends and directed them to Sehar. Great work! Keep it up!

Antonio Talanga

Very knowledgeable and able to recommend the best insurance for the circumstances

Jan-Paul Landry

Sarah, was very helpful in providing us with answers to our questions, and guiding us through our needs for travel insurance.

Chris Paveley

Excellent service from Ummi.

Dave Fabello

Sahar provided a detail of my coverage was very courteous allowed me to review! After a couple weeks later we reconnected to secure!Great experience!

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

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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

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