Mortgage Insurance

Mortgage Guard® puts your family first

Mortgage Guard® from The Co-operators secures your mortgage with life insurance and optional critical illness and disability benefits all in one flexible, convenient plan.

Unlike the bank's mortgage insurance, you own your Mortgage Guard® policy.

  • The policy stays in effect even if you switch lenders.
  • Only you can cancel it.
  • Your family receives the benefits in the event of your death, not the bank.
  • The funds can be used as you decide: to pay off the mortgage, invest for the future or to maintain quality of life.
  • Your premium rate is fixed and guaranteed for the term of the policy.
  • You can convert the policy to a permanent insurance plan as the policy allows.

Banks typically sell mortgage insurance. With mortgage insurance the amount payable to you decreases as you pay off your mortgage. Upon death, the only benefit is that the outstanding debt is paid. Your family will not receive any additional benefit from all of the premiums paid. In addition, each time you renew your mortgage, you have to renew and requalify for your insurance as well.

With Mortgage Guard®, you're in total control of your policy.

Optional critical illness and disability protection

Our Mortgage Critical Illness® protection provides a lump-sum payment if you're diagnosed with a covered critical illness and survive the waiting period. If you die without making a claim, your base premium is refunded.

Disability Income Benefits provide you with a monthly income benefit to help you maintain your family's lifestyle, which can be as much as 25% greater than your monthly mortgage and property tax payments.

Best Doctors®

The Mortgage Guard® disability and critical illness options include the Best Doctors service, which gives you free access to an international roster of top medical experts to help you obtain the best medical advice available.

We know mortgage insurance requires more than ticking boxes on an application to give you the right coverage. One of our trusted local Financial Advisors can help walk you through the application.