Mortgage Protection under Canada Life

At Canada Insurance Plan we offer comprehensive life, disability, critical illness and terminal illness coverage.The benefits available and details of coverage vary product by product.

Life – If you happen to pass away unexpectedly, the insurance can help your outstanding balance, up to a pre-determined maximum.

Disability – A disability may be mostly physical which is visible and other forms like  cognitive, mental, sensory, emotionally disturbed , developmental or maybe some combination of all of the above, the insurance can pay your minimum monthly payment, up to a pre-determined monthly amount.

Critical illness – Critical illness insurance offers help paying costs associated with life-altering illnesses. If you become sick with an illness covered by your policy and survive the waiting period, you receive a lump sum cash payment. If you are diagnosed with a critical illness, the insurance can pay your outstanding balance.

Terminal illness – Terminal illness is that cannot be cured or adequately treated and that is reasonably expected to result in the death of the patient within a short period of time.If you are diagnosed with a terminal illness, the insurance can pay your outstanding balance, up to a pre-determined maximum.

Most often, acceptance is automatic on the date you apply and medical examination may not be required for enrolment. You can often add the premiums to your regular mortgage payment.

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Mortgage Protection under Canada Life, types of Mortgage Protection under Canada Life

Canada Life Products