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Mortgage Life
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Your home is your greatest investment. Make sure you’re covered with Mortgage Life Insurance.

Mortgage Life Insurance provides the benefit of ensuring your family will have a home in the unfortunate event of your passing.

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  4.8 Stars
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What is Mortgage Life Insurance?

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Mortgage Life Insurance will cover the cost of missed mortgage payments so that you can avoid the foreclosure of your property. Your insurance policy premium payments will only stop once your mortgage is fully paid off.

You can also rest assured that in the unfortunate event of your passing, your family will not have to worry about paying the mortgage or finding a new place to live. However, the policy payments will always go straight to the financial institution you hold your mortgage with, and not to your family.

Is Mortgage Life Insurance required?

Mortgage Life Insurance is only required depending on the amount of your down payment. If you put down below 20% of the property’s value, Mortgage Life Insurance will be required by the lender to protect your money in case you default on your loan payments.

Many new home buyers cannot afford a 20% down payment. The minimum down payment in Canada for a first time buyer is 5%, which is what most people choose to pay. If the value of the property you want is above $500,000 but below a million, you will have to pay 5% of the $500,000 plus additional 10% of the remaining amount. Properties valued at one million or above need a 20% down payment and do not qualify for Mortgage Life Insurance.

Buying Mortgage Life Insurance provides security to your lender, which allows them to offer sustainable interest rates on your loan.

How is Mortgage Life Insurance cost calculated?

Your Mortgage Life Insurance cost will depend on the value of the property you wish to buy and your down payment amount. The lower the value of the property and the bigger the down payment, the lower the Mortgage Life Insurance cost will be.

Our Reviews

Excellent
Sharon
Just booked my travel insurance! Doran’s is the best! Thank you so much
Jackie Keir
Muhammad was excellent, it took a few days because of technical problems, not Alliance issue. Will definitely use again, got us the best price for travel insurance. Thanks Muhammad
T Nguyen
We have previously obtained travel insurance with Alliance through Costco Travel insurance. After Alliance email reminder, I have filled out request for multiple trip quote. Sehar Bajwa called back and helped me to complete the application. I received by email the Manulife Travel Policies right after. Thanks
Gerard Thompson
Muhammed Suleiman was professional in his dealings.
valerie szilock
I worked with Artmiz to arrange travel insurance. She was very helpful ,answered my questions and clearly outlined my options. I will use Artmiz at Alliance for future travel.
Loraine Anderson
Dornaz was very helpful and I appreciated all her efforts to sign me up for my travel insurance.
She will be my “go to” girl for any future travel needs!
Loraine
Maria
My agent is Muhammad Suleiman
Jessica Martinelli
I had an exceptional experience with Ofir Mizrahi. Even though I didn’t end up purchasing a policy at the moment, his level of customer service truly stood out. He was incredibly professional, knowledgeable, and patient, taking the time to explain every detail clearly without any pressure.

You can tell he genuinely cares about helping people make the right decision, not just making a sale. That kind of integrity and dedication is rare to find.

I highly recommend Ofir to anyone looking for honest, reliable, and top-quality service. I will definitely reach out to him again in the future!
Mona Hadisi
Dornaz is always very helpful and provides all the details and suggests the best option
Heather Sutherland
Good assistance.
Joe Daigle
Dornaz was extremely helpful and efficient, a pleasure to deal with. Highly recommend her for travel or any insurance questions or policies.
C J
Dornaz was very helpful during my search for travel insurance!
Kim Keller- Rakochy
Very polite and courteous.. My agent, Dornaz, was very helpful and efficient booking my travel insurance. All needs were met in a professional way. Thank you.
Brenda Burton
Great customer service!! Very friendly
Vivian Guo
I am very grateful to Sehar Bajwa for her help. She is very patient and professional.
Franz Hasenhundl
Dornaz made it very easy getting a quote and then completing the deal.
Natalie Haak
Sehar promptly replied to my emails and answered any & all questions I had. Great rates on medical/travel insurance.
Irene Holloway
Dornaz was great to work with. I will be using her for all our trips
Pradeep Mohapatra
Great service by Dornaz
Lololo
Artmiz provided great service and advice for our last trip so we decided to contact her again for our next trip. She answered all my questions and was very friendly and helpful. I believe she gave me the best insurance deal for my trip to Portugal.
Milia Kats
Thank very much for the excellent service, great knowledge in getting for me the best plan for the travel insurance. Well bone!!!
Louise Zenzen
Very efficient, lovely to speak with and made booking insurance much easier for me
Ahmed Shaat
Dornaz was a great help signing me up for my benefits plan.
helen carey
Artmiz was so helpful with getting my coverage for both my trips.
It was a pleasure dealing with her.
Margot Brunelle
Dornaz was efficient, friendly, and helpful! Thank you ..
Francine Menard
Artmiz Namazi was very efficient and informative with regards to my requirements for my upcoming trip. Received all my documentation within minutes. She made it a very pleasurable experience!
Reuben Qaunaq
I highly recommend this insurance; Dornaz was extremely helpful and kind throughout the process. Easy and quick
Maggie VH
Artmiz Namazi was amazing. She was very friendly and knowledgable and prompt with a quote. I asked for companies for a quote and your company was the cheapest. I called her back and placed my order for travel insurance for two months. Thank you so much.Artmiz. It was a pleasure dealing with you
Doris Concepcion
I always get great service from R'ceino and Artmiz that's why I keep coming back to your company for our family's travel insurance. Thank you.
Celia Alam
Very knowledgeable . Thanks Dornaz
Ernest Comerford
Service was very good, Dornaz was very helpful and prompt in her service.
Brenda Adams
Dornaz has been polite - pleasant - prompt in finding a suitable insurance to fit our needs. She represents your company very well. A pleasure to deal with.
André Lanteigne
Snowbirds for many years, being 80 yrs this year we had to go over the health questionnaire with an agent.  Our agent, Sehar Bajwa was very helpful is guiding and assisting us in answering the heath questions accurately. And we are pleased with the travel insurance plan she recommended . Thank you Sehar
Elaine Ray
Dornaz was extremely helpful in assisting me with the best travel insurance for my approaching trip to East Africa. Knowledgeable, professional, friendly, and quick to respond, I feel confident with the coverage I purchased and with it's price. Thank you Dornaz!,
Eric M
Very easy too renew travel to insurance. Dornaz very helpful and professional
Murray Rogers
Doenaz was a very efficient and a delight to deal with.
Maureen edmonds
Dornaz was extremely helpful and patient whilst helping me organize my travel insurance. Would certainly recommend this service for all travel insurance needs.
Murray Morrison
We dealt with Dornaz for our travel insurance needs for an upcoming trip and it was a good experience and we are very happy with what she placed for us. Hopefully we won’t need the insurance but we have peace of mind knowing that we are covered if we do.
Patti McTavish
Sehar Bajwa Was absolutely lovely, she explained and helped me select travel insurance for myself and husband for our up coming trip. I will keep her contact information for future travel insurance needs.
Thank you so much Sehar
Janice Greco
Artmiz was very helpful. She made the process very easy.

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How to Save Money on Mortgage Life Insurance?

We want to help you save your money. The best way to save money on Life Insurance is to compare rates from multiple providers. This can be extremely time consuming. Luckily, Alliance Income Services Corp. does all the hard work for you! By simply requesting a quote online through our website, we check what rates you can get from every major Canadian insurer.

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20% Down Payment

Avoid the need for Mortgage Life Insurance by saving up a 20% down payment on the property you want to purchase.

Down Payment Percentage

A 20% down payment may be out of reach. But you can try to contribute an extra amount to reach a new down payment percentage bracket. The more money you’re able to put down, the lower your Mortgage Life Insurance will be.

Shorter Amortization Period

Your mortgage amortization period is the total amount of time it takes to pay off your mortgage. If you get a shorter term, you will have higher monthly payments, but you will pay it off faster and stop making mortgage payments.

Pay Above Your Monthly Payments

Make extra payments on your mortgage loan to pay it off early whenever you can afford it. Your Mortgage Life Insurance payments end as soon as your mortgage is paid off.

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  4.8 Stars
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