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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
Brian R. Post
I just recently renewed my travel insurance through Alliance Income Services Corp, with my agent Sehar Bajwa being very efficient and effective to put my coverage in place. I am appreciative and grateful for her excellent service and knowledge. Thank you, Sehar!
Vicki Robinson
Clarity about what was offered. Searching for the best deal for me.
Michael Greenhill
AIS and in particular Donaz was extremely knowledgeable and helpful in recommending our travel insurance at a very reasonable cost. Great work Donaz, thank you!
Paul McLean
I would recommend Ofir from Alliance Income for my travel insurance needs. He was fast, efficient and was able to source my travel insurance needs a a lower price than a was able to obtain from several insurance companies. Thanks!
Diane Pare
very funny, attentive, informative and would return my call within no time at all. followed up with a phone call to the company to further my comfort zone. would definitaly work with him again
Gavin Watts
Gabriel is excellent , full knowledge, polite and respectful, interested in making one feel welcomed. Recommend this sign in service to anyone needing travel insurance.
Walter Jong
it was such a pleasure to work with Artmiz Namazi in my purchase of medical travel insurance. Not often do I receive the care and authentic interest in ensuring that my needs and concerns were addressed. At the end of the day, all the costs were practically the same among many of the financial institution but Artmiz was the difference and her well deserved goodwill finalized the decision to purchase from her. Thank you so much Artmiz for all your help and assistance.
Gerry Scharff
I was surprised to receive a phone call from Alliance and then to have Dornaz walk me through the medical questions and quote a reasonable price. She was polite and very helpful for all my needs.
mary lou mcgregor
Very efficient and caring individual. He completed his role in a highly professional manner
Caralyn Crocker
Ofir Mizrahi , he handled all our transaction he was kind considerate and very professional. He made sure I understood the policy. When I couldn’t find what I needed he helped me navigate through. If all your company is as good as him you have great team . If they aren’t I’m glad I had him . Thank you for professional consideration of helping me
Caralyn Crocker
Greg Glass
Her attention to detail was great. Answered all my questions with no hesitation. Highly recommend contacting her for your insurance needs.
Dave Randhawa
Dornaz provided me with exceptional service,
very professional and knowledgeable.
Thank you Dornaz for assisting me get my travel insurance,it was a pleasure doing business with you.
Joyce Johnston
Shiwani was very helpful, and explained everything clearly
Christine Hamilton
Ofir was amazing and he was able to get an incredible deal for my upcoming cruise. Very professional!
Sheryl Dobenko
Ofir was very helpful and thorough in advising and organizing our trip cancellation insurance for un upcoming trip to Africa.
Colleen Butler
Dornanz was vey helpful and went out of her way to find us the best policy.
Rita Roy
Great at what he does!
Richard Humphries
Dornaz has been very helpful tailoring my insurance policy to suit my specific needs. She was prompt in replying to my messages and questions. Thank you, Dornaz
Ivana Gremo
I purchased travel insurance from Dornaz several times.She is very knowledgeable and takes time to explain all concerns I would have.
I would highly recommend her to anyone who needs to purchase travel insurance.
Ivana
cathy othmer
For was very patient and helpful
Diane Roy
I appreciated Shiwani patience. She was easy to understand and very helpful when I was concern about my transition. 👍
Frank Spencley
Great experience
anthony schiavone
We bought multi trip ins. today with Artmiiz . Tried different compa nies need to say we found Artmiz very informative patient and professional. Thank you.
Bruno Settimi
Ofir Mizrahi was very helpful and answered all our questions professionally.
Shirley Watkins
We dealt with Ofir who was pleasant to speak with and met all our needs.
Sally Orviss
Very professional and friendly service. Made it easy!
Craig Baker
Martin was patient and efficient in providing our travel medical insurance.thankyou!
Franca Zagarrio
Martin was an amazinging agent! He was very patient in explaining the different plans to myself and my husband. He followed up and answered all our questions.
kayiu
Sahar, the Lady who assisted me over the phone has helped me to purchase an emergency medical insurance for my wife’s traveling to the US for a few days attending the AGT on Sep 15 and Sep 16, 2026.
I have found Sehar to be a customer oriented professional who has great knowledge and patience to explain to me the importance of buying an emergency medical insurance.
I would like to thank her and I will recommend Sahar to all my friends who would like to know more about insurance. Thanks Sehar!
Jan Regnier
Great customer service. I called a few weeks ago, got a quote and received it by email. I called today, left a message, Ofir called right back. He was able to get even a better price so we completed the purchase. Very happy with Ofir's service, friendly and very helpful.
R J
Artmiz Namazi helped me many times in my travels. Always respond quick and make it easy for me. Thank you 😊
Steven Frey
Dornaz was very helpful and professional in her service. Thank you.
Maria Schmid
I received a great fast detailed service.
Thank you
Dia Aiello
Dornaz focuses on the client needs and requirements outlining the timetable for the policy and the coverages. Exceptional followup after we initiated contact. I would recommend Dornaz to anyone exploring the option of Travel Insurance. We actually did!

R & D
Rita Robson
Dornaz made my experience exceptional. I would buy again through her
Sandy Vine
Dornaz helped me and she was amazing! She explained the policy to me and told me what to do if I ever had a claim.
Reg Howard
I googled medical travel insurance Sehar called me back and was able to get what I wanted/ needed I highly recommend her, very knowledgeable. Thank you Sehar for doing such a great job
Jeanne Jeannie
Very patient answering my numerous questions.
dale FlyGuy
Dornaz is very polite and professional her assistance in obtaining travel insurance was extremely helpful. Dornaz is our go to travel insurance advisor.

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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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