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. Choosing Mortgage Guard® allows you to decide how to protect the well-being of your loved ones, your lifestyle and your financial future.

Mortgage Guard® is different from other mortgage insurance products because it puts you in total control of your policy.

  • You own your policy and only you can cancel it.
  • The policy stays in effect even if you switch lenders.
  • In the event of your death, your family receives the benefit.
  • The funds can be used as you decide: pay off your mortgage, invest for the future or maintain your quality of life.
  • Your premium rate is fixed and guaranteed for the term of the policy.
  • The benefit amount is level for the term of the policy, unless you choose to reduce it, which also reduces the premium rate.
  • You can convert the Life insurance policy to a permanent insurance plan as the policy allows.

Optional disability protection

Our Mortgage Guard® Disability Insurance (MDI) Rider provides you with a monthly income benefit to help you maintain your family's lifestyle should you become disabled. The benefit can be up to 125% of your monthly mortgage and/or line of credit payment (including property taxes, if so desired), to a maximum of $3,500 per month, for either a 24- or 60-month benefit period, up to age 60.

MDI is available as a rider on Versatile Term®, Infinity Term® and Universal Life policies.

Optional critical illness protection

Our Critical Assist® Rider provides you with a lump sum payment between $25,000 and $2,000,000, dependent upon the level of coverage you select, if you are diagnosed with one of the 25 covered conditions and survive the waiting period (30 days in most cases). This rider also offers an Early Assist partial payment equal to 10% of the policy face amount, up to a maximum of $50,000, if you are diagnosed with one of the four Early Assist covered conditions. There is no reduction of the policy face amount when a partial benefit is paid. The Critical Assist® Rider is available with level premiums for either 10 years (with 10-year renewals to age 75) or 25 years (with 20-year renewals to age 75).

Teladoc Medical Experts®

The Mortgage Guard® Disability Insurance Rider and the Critical Assist® Rider include the Teladoc Medical Experts®, which gives you free access to an international roster of top medical experts to help you obtain the best medical advice available.

Contact one of our trusted local Financial Advisors who can help walk you through the application.