Guaranteed Mortgage Protection
Once you accept the responsibilities of taking on a mortgage that spans several decades, a smart move would be to look for a mortgage protection plan for your family and loved ones in case you’re not there or in the event of the unexpected. Then, your family can have a fully paid-off residence to live in with one less thing to worry about. In fact, other debts can be paid off immediately
The mortgage insurance Canada Benefit Plan offers covers for homeowners who want a safety net if a health issue arises, they become disabled, or a job loss is lengthy. Our coverage plans are flexible with the decreasing term to match your mortgage or term-loan schedules. Our coverage plans can pay the tax-free amount directly to your family so they can pay off the balance of the mortgage or partial amount of their choice, and even purchase a second property or make investments.
When you take out a Guaranteed Mortgage Protection Plan through Canada Benefit Plan, you know you are covered against a potential financial disaster. The application and quoting process is simple, quick, and entirely online-based. We can determine what’s right for you together.
Guaranteed Mortgage Protection Features and Funding
- Coverage amounts available for ages 18 to 50 up to $750,000
- Coverage amounts available for ages 51 to 60 up to $500,000
- Absolutely no medical exams & no needles
- No denials due to health conditions or previous decline history
- Most coverages issued with a bankruptcy history
- Most coverages issued with a guaranteed -cash value feature
- Access to emergency funds in a terminal condition
- Permanent coverage until age 100
- Terminal Illness Benefit included (Most Coverages)
- Transportation Benefit included (Most Coverages)
- No waiting period, coverage starts day one
Optional Benefits:
- Hospital Cash ($25, $50, $100) per day
- Child Term Benefit
- Accidental Death Benefit
- Most coverages are convertible to permanent even you finished with your mortgage and loans
We work with a vast network of Canadian insurance providers to give you the best Guaranteed Mortgage Protection Insurance options based on your circumstances,
CALCULATE YOUR BENEFIT AMOUNT
Life Insurance Needs Calculator | Canada Benefit Plan
An easy-to-use calculator to help determine your insurance needs.
Step 1- My debts and final expenses?
The first step is to determine your liabilities (mortgage, loans) and final expenses (funeral costs, tax bills and final medical bills)
Step 2- My family's financial needs?
This step is to consider how much income your family would need and for (how many years) in case of your unexpected death. You are financially worth for your family as your family is depending on your income and financial decisions
Step 3- Are my parents dependent on me?
In this step, you should consider your parents if they are relying on you for basic needs and how they will continue to meet those needs if you are not there.
Step 4 - My favorite charity?
This step is the opportunity to continue to taking care of your favorite charity after your death. What is a better gift than charity?
Step 5- How much are my assets worth?
This final step is to help you evaluate your financial position and add up your total debts (mortgage, loans etc.), final expenses (funeral costs, tax bills, medical bills etc.) family’s financial needs (family income needs for the desired number of years, family emergency need, children education costs, child-care expenses etc.) Dependent parents’ financial needs (parent support, parents funeral cost etc.) charity (lumpsum donations) and subtract all this from your total assets to calculate your life insurance needs.
-RESULT SUMMARY-
| Mortgage | $ {{quantity}}.00 |
| Debts | $ {{price1}}.00 |
| Expected final expenses | $ {{price2}}.00 |
| Current Annual Income | $ {{price3}}.00 |
| Family's income after death | $ {{price4}}.00 |
| Years of income needed | {{price5}} Year/s |
| Emergency funds for family | $ {{price6}}.00 |
| Expected childeren education cost | $ {{price7}}.00 |
| Expected child care expenses | $ {{price8}}.00 |
| Amount for parents after death | $ {{price9}}.00 |
| Parents funeral cost | $ {{price10}}.00 |
| Would like to donate | $ {{price11}}.00 |
| Savings | $ {{price12}}.00 |
| Real Estate Assets | $ {{price13}}.00 |
| How much my other assets worth? | $ {{price14}}.00 |
My life insurance need is : $ {{quantity + price1 + price2 + price4* price5 + price6 + price7 + price8 + price9 + price10 + price11 | number:'1.0':'en-US'}}
The Amount of Life Insurance I Need Is:
$ 0.00
$ {{quantity + price1 + price2 + price4* price5 + price6 + price7 + price8 + price9 + price10 + price11 | number:'1.0':'en-US'}}
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