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Posted by Lavinia Woodburn on 03/20/2016

Mortgage Insurance

Mortgage Insurance

Mortgage Protection Plan (MPP) from Manulife Financial

Many people have tight budgets when buying their home.  But if your budget is tight right now, consider what would happen if your family suddenly lost a bread-winner.  Would they loose their home?  No one wants that to happen, so dismissing the idea of mortgage protection in order to save money could ultimately be a big mistake.


Mortgage Protection Plan Offers TRUE Portability! 

When comparing mortgage protection options, here's one important fact to keep in mind. Choosing the bank's insurance could cause you to lose your protection at the time when you may need it most.

Mortgage Protection Plan is fully portable, no matter what.  once you have our coverage it can never be taken away, even if your health deteriorates.

No bank offers this benefit.  They only protect their own mortgages.  

So, if you later want to change lenders, you will be forced to consider the possibility of losing your insurance at the same time.

With Mortgage Protection Plan you never have to pass up a great mortgage deal in order to keep your insurance.


Others say no, but MPP says YES!

Manulife Financial is the first mortgage protection provider to offer some form of protection to everyone who submits a life insurance application, regardless of your health.  As long as you are between the ages of 18 - 65, and your total mortgage obligation is less than $1,000,000, you will never be declined.


Your Coverage Starts Right Away!

You can walk out of our office with the rock-solid assurance that you already protected.  You just have to pay the first premium when it is due. 


Your Good Health Matters

Saying "yes" to everyone doesn't mean that Manulife doesn't take your health into account.  Everyone must provide medical information with their application.  If you have some health problems, you may pay a little more, or your coverage may have some extra exclusions.


Attractive Premiums

MPP's premium rates are always attractive, whether you compare your mortgage lender's plan or with term life insurance.  If you are shopping around, don't be fooled by a term insurance premium that starts low, but then increases drastically as you get older.  Depending on the type of product you buy, your premium could triple when you renew.  When you consider the long-term obligation your mortgage represents, MPP is one of the most cost-effective options available.


Satisfaction Guaranteed or your Money Back!

Take up to 60 days to shop around, and if you find a protection option that you like better, simply cancel and Manulife will refund any premiums you've already paid.


Disability Coverage that's Better than Ever

MPP's total disability protection is still one of the cost affordable choices, but now the benefit amount automatically adjusts when your interest rate changes - and at no extra cost.  In addition, those benefits do not have to be reported as income to either CPP or you private disability insurer, and are not subject to income taxes.


MPP Cares about your Health, not your Occupation  

Unlike conventional disability insurance, MPP doesn't look at the type of job you have or your income when you apply, only at your health. Self-employed individuals, seasonal and part-time workers are fully eligible.   You are not obligated to buy life insurance.  You can buy disability protection on its own.


Portable Coverage with Prior Recognition

You can transfer your mortgage whenever, wherever you like, without any fear of losing your protection.  Even if additional mortgage funds are advanced, only the premium for your additional coverage will be based on your then-current age.  The amount of coverage you already had will remain untouched, and can't be taken away no matter what your health situation may be at the time.


Unlimited Life Insurance "Bridge Benefits" that are Unmatched

MPP will start taking care of the mortgage payments as soon as a completed life insurance form comes in, and will continue to do so for as long as it takes to receive all the documentation and reach a final decision about the claim.


Underwritten by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company is a trusted name and industry leader.


Mortgage Protection Plan* is underwritten by The Manufacturers Life Insurance Company and administered by Benesure Canada Inc. Credit Security Insurance Ageny ("CSIA"), a wholly-owned subsidiary of Manulife Financial, and its appointed agents, provide insurance sales services.  *Registered trademark of Benesure Canada Inc. used under license.

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