The investment you’ve made in your home is one of the largest financial commitments you will make in your lifetime. The Mortgage Loan Protection Programs listed below describe four different mortgage loan protection plans to help secure that investment, while also meeting your needs and budget.

MORTGAGE LIFE INSURANCE

Do you rely on a dual income, or perhaps one persons sole income to pay the mortgage payment each month? What would happen if these individuals were to unexpectedly pass away? 

Many families do not have enough money saved up to survive six months if the unexpected were to happen. Mortgage Life Insurance is a invaluable coverage, providing borrowers with peace of mind knowing that their family will not have to struggle, and their financial obligations are secured. 

This particular Mortgage Loan Protection plan will either reduce the mortgage amount, or pay off the loan completely in the event death. The Mortgage Life Protection plan offered through First Service Corporation has tobacco and non-tobacco user premium rates. The plan will pay the scheduled outstanding balance at time of death, subject to the plan maximum when the loan balance is 100% insured. 

Exclusions may apply - See insurance certificate for details | Not available in all states | Rates may differ based on state

MORTGAGE DISABILITY INSURANCE

This is an important coverage for all employed mortgagors. It provides monthly benefits subject to the plan maximum, but no more than the total monthly mortgage payment at the time of application. Your total monthly disability benefit payment will be the amount you apply for on your application for coverage. However, it cannot exceed the total amount of your monthly mortgage payment at the time you apply, or the maximum noted below. 

You are considered totally disabled when you are  under a doctor’s regular care for an injury or illness other than, but not limited to mental, emotional, or nervous disorders; alcoholism; or drug addiction (subject to policy exclusions) that prevents you from performing the substantial duties of your occupation.

Exclusions may apply - See insurance certificate for details | Not available in all states | Rates may differ based on state

MORTGAGE ACCIDENTAL DEATH INSURANCE

This product provides coverage in the event of a covered accidental death.  The Accidental Death Insurance Program is available to any mortgagor regardless of health. Guaranteed Issue! No physical exams or health questions to qualify.  This is a low cost alternative for applicants whose health disqualifies them for mortgage life.

An Accidental Death is one that results from an external bodily injury that occurs unexpectedly and suddenly without the insured person's intent but includes smoke inhalation and drowning. 

Exclusions may apply - See insurance certificate for details | Not available in all states | Rates may differ based on state

MORTGAGE 2 IN 1 LIFE PLUS INSURANCE

This is a unique low cost alternative to full a Mortgage Life Protection Plan. Rates are the same for all ages.  Mortgagors can choose any amount of monthly benefits up to the total monthly mortgage payment. 

How the plan works:

• In the event of a Natural Death: Pays 24 monthly benefit payments in the amount the Mortgagor(s) initially chooses.
• In the event of a Accidental Death: Pays the scheduled loan balance up to $100,000 … PLUS … 24 monthly benefits to the survivors

Exclusions may apply - See insurance certificate for details | Not available in all states | Rates may differ based on state