The investment your borrowers have made in their home is one of the largest financial commitments they will make in their lifetime. The Mortgage Loan Protection programs listed below describe four different Mortgage Loan Protection plans to help your borrowers secure that investment, while also meeting their needs and budget.

 

Mortgage Life Insurance

Mortgage Life Insurance is a valuable protection plan for your borrower. With many families depending on a dual income to help pay the mortgage payment, Borrowers benefit knowing that their mortgage will be reduced or paid off, in the event of death. The Mortgage Life Protection plan gives Borrowers peace of mind knowing that their family will not have to struggle, and their financial obligations are secured.

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 2 in 1 Life Plus Insurance

The 2 in 1 Life Plus Protection plan is a unique low cost alternative to full Mortgage Life Insurance. Under this protection plan, Borrowers are covered for either a Natural Caused Death, or Accidental Death. The rates for this plan are the same for all ages and Borrowers 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

*Not available in all states.

 

Mortgage Accidental Death Insurance

Mortgage Accidental Death Insurance can help protect your Borrower from unexpected events, and give comfort knowing that their family and financial obligations are secure.

The Accidental Death Insurance plan pays according to the group master policy schedule, subject to the plan maximum, when the loan balance is 100% insured. There are no physical exams or health questions for your Borrowers and everyone under age 70 automatically qualifies.

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

*Not available in all states.

 

Mortgage Disability Insurance

Mortgage Disability Insurance is a vital plan that can give peace-of-mind to your working Borrowers. The Mortgage Disability Protection plan pays a monthly disability benefit payment up to plan maximum of $1,500 but no more than the total monthly mortgage payment at time of application.

Your Borrowers would be considered totally disabled if they are under a doctor’s regular care for an injury or illness other than 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