What if we could provide you with double or even triple the coverage for the same price!

You might even be able to eliminate Mortgage Insurance all together with the coverage you already have!


Take a minute and compare Mortage Insurance bought through the bank and a traditional Life Insurance Policy


Mortgage $400,000 Husband & wife both 46
“Major Bank in Canada” $293.76 -premium
If both die and are approved -mortgage is paid off ($400,000)


Let’s look at this 10 years into coverage:
Mortgage balance only $100,000. And same $293.76 premium

$35,251 paid for only $100,000 in benefit. (no guarantee benefit will be paid out)


Compare to

Term 20 policy $400,000

(Major Canadian Insurance company) $140.70 premium

Husband $82.76 -
wife $57.97 -

$16,884 paid for $800,000 in guaranteed benefit

52% reduction in premium and 8x the coverage!

And without any of the limitations below plus it’s a guaranteed benefit!


Do I own the Policy?

Because mortgage life insurance is a type of group insurance, it is owned by the lender who has the ability to cancel the group policy at any time.

Can I choose the Policy's Beneficiary?

The mortgage lender or financial institution is the sole beneficiary of mortgage life insurance, as well as the owner. The lender will use the death benefit proceeds to pay down the remainder of the mortgage.

I'm in good health. Can I get a better rate?

Mortgage Life Insurance premiums do not take health into account.

Is my coverage portable?

If you have Mortgage Life Insurance and you switch lending institutions, you must reapply for coverage.

Can I Continue the coverage after paying off my mortgage?

Your mortgage insurance expires once the mortgage is paid off.

Is there any guarantee?

Not guaranteed. Mortgage insurance is not underwritten until a claim is made, so they don't decide whether to cover you until you're already dead!

Will the death benefit remain consistent?

As the amount of your mortgage decreases, your coverage drops as well. However, you have to keep paying the same premium, meaning that over time you get progressively less value for your money. With mortgage life insurance, the death benefit pays only the balance of the mortgage in the event of death.

If both my spouse and I are involved in a common disaster, will the death benefit be paid for both spouses?

Should both spouses pass away, the bank or lender will use the death benefit only to pay down the remainder of the mortgage. Essentially, the death benefit is paid to the lender and the policy owner's family does not receive anything beyond the knowledge that the mortgage is paid off.

Is my Policy Underwritten when I apply for it?

In the case of bank mortgage insurance, underwriting is done at the time of death. In some cases, mortgage insurance is offered with minimal background checks. This can result in major problems if the bank's insurer decides to dispute the claim.

Request a call back from Brian Poncelet, CFP

Starting is easy, you can schedule a no obligation call with Brian and learn how much you could be saving.

What do clients say about Brian Poncelet?


D. Dubeau

"We reach out to experts in various financial fields in order to determine accurately the needs and opportunities within your financial picture."

David and Tracy Peters

"Brian helped set up our mortgage and also some excellent term insurance for us to cover our mortgage."

Kelly McKee

"I appreciated Brian’s ability to take some complex issues and break it down into terms I could relate to. He made insurance easy to understand."

Jonthan McKee

"We take a concentrated look at the forms of risk within your finances, and delineate the steps to improve overall security."