CIMBL


Home Page
About Our Company
Meet Our Team
Our Products
Our Services
Important Information
Mortgage Life Insurance
Online Application
Contact Us Online
Get Your Free Reports
Location Map


Mortgage Corp. Financial Services Inc. is located at:

Courtleigh Place
450 Main Street West
North Bay, Ontario
P1B 2V2

Tel: 705-494-9911
Fax: 705-494-9912




Mortgage Life Insurance


"A serious concern...

Your home is one of the largest investments you will ever make. The mortgage that comes with it is a big responsibility and can impact your family's security. What happens, if you suddenly pass away, or you become sick and can't work before your mortgage is paid off? No doubt you would worry about who will be left dealing with your financial obligation."


Nature of the Coverage

The Group Mortgage Loan Insurance provides the following protection:

Life Insurance

In the event of your death, the Insurer shall pay to your Creditor the outstanding Principal Amount Insured.

Accidental Death Insurance

In the event of your death due to an accident only, the Insurer shall pay to your Creditor the outstanding Principal Amount Insured.

Total Disability Insurance

In case of total disability, the Insurer shall pay to your Creditor a benefit equal to the Monthly Amount Insured, for a maximum of 24 monthly benefits.

Eligibility

To be eligible for insurance under the Group Insurance Policy, you must satisfy the following conditions on the effective date of insurance shown on the Certificate:

  • You must be a natural person (partnerships, corporations or other forms of business entities are not eligible for insurance);
  • You must be at least 18 years od age;
  • You must have a mortgage lien with your Creditor;
  • You must be a resident in Canada;

In addition, for Total Disability Insurance, you must:

  • Be permanently employed and actively at work for wages or profit for at least 25 hours per week for 30 consecutive working days immediately prior to the effective date of insurance; or
  • Be gainfully employed as a seasonal employee and must be so employed for 13 consecutive weeks during the 12-month period immediately preceding the effective date of insurance.

Disability & Life Credit Insurance Benefits


  • Protection for the surviving spouse;
  • Portability to another creditor;
  • 24 month term of the disability benefit;
  • Insurability for the entire amortization;
  • No medical examination for loans under $300,000 (except for existing disease);
  • Possibility of buying disability insurance without buying life insurance;
  • Elimination of debt in case of death of either insured; and
  • 100% insured monthly payment in case of disbility of either insured.




Visit LAC Media - Click Now!