Your mortgage payments depend on both your income and your health. What happens to your mortgage payments if you can no longer work, or if you become seriously ill? When you protect your loan, you're protecting your property and your loved ones from an unneeded financial burden.
Mortgage life or disability insurance protects you and your loved ones in the event of disability, critical illness or death 1. In the event of disability, the insurance covers your mortgage payments. In the event of critical illness or death, the insurance pays off the insured amount of your loan. Opting for loan insurance is a way to ensure peace of mind.
If you are experiencing financial difficulties, contact your mortgage advisor immediately.
Is personal bankruptcy an option?