Got your mortgage insurance at the bank?
Your own policy can cost less, and it doesn't shrink.
Example, age 35, $500,000:
Bank: $70 to $88/month. Your own 25-year term: from $33/month.
Get your price No obligation · About 60 seconds
Question 1 of 5
Got it, thank you.
I'll send you your price, usually within a few hours.
Questions before then? Text me anytime.
Rather talk now? Text me or call 819-712-8815.
- Licensed in Ontario (FSRA)
- En français aussi
Same $500,000. Up to 2.6x the price at the bank.
Real monthly prices to cover a $500,000, 25-year mortgage, non-smoker.
$38 men
$43 men
$63 men
Covering two of you? I'll price you both.
And the bank's $500,000 is worth about $268,000 by year 15
Bank prices: RBC and Scotiabank published mortgage life insurance rates (single coverage), October 2026, including Ontario's 8% sales tax on group insurance. Bank rates don't depend on sex. Your own policy: 25-year level term, so it lasts as long as the mortgage, policy fee included, from the iA mortgage insurance calculator, October 2026; individual life insurance has no sales tax. Prices are examples; yours depend on your age, health and coverage, and are subject to underwriting. Mortgage balance assumes 25 years at about 4.5%.
Don't take my word for it
Here's what the Government of Canada's Financial Consumer Agency says about mortgage life insurance:
"The mortgage lender receives the death benefit, not your family or heir(s)."
"The premiums generally remain the same, even though you'll owe less on your mortgage over time."
"Term or permanent life insurance may provide better value than mortgage life insurance."
Source: Financial Consumer Agency of Canada, "Optional mortgage insurance products".
Side by side
Price isn't the only difference.
Who gets the money
The bank
The people you choose
What it can pay for
Only the mortgage
Anything your family needs
Your coverage
Shrinks as you pay down the mortgage
Stays the same
Your price
Same price for less coverage
Locked in for the whole term
If you switch lenders or refinance
Usually ends
Stays with you
If your health changes later
You may not qualify again
Your price and coverage stay locked in
General comparison of typical lender mortgage insurance and individual term life insurance. Features vary by product; your policy documents are what count.
Hi, I'm Thomas.
I'm a licensed Financial Security Advisor in Ottawa. A lot of people sign up for mortgage insurance at the bank in five minutes, at the end of a long day of paperwork, without anyone explaining how it works.
My job is to show you the real numbers. If what you have already fits, I'll say so. If there's a better option, I'll show you exactly why.
Licensed in Ontario, FSRA licence #26251138 (verify it here). Serving Ottawa and Eastern Ontario, in English and French.
What happens next
You answer a few questions
Takes about a minute. No documents needed.
I send you your price
Usually within a few hours, by text, call or email, whichever you prefer.
You compare and decide
Put it next to what you pay the bank (check your mortgage statement for "life insurance" or "creditor insurance"). If you want to switch, I'll walk you through it. If not, no pressure.
Questions people ask
Is this really free?
Yes. Your price costs nothing and you're not committing to anything.
Why can my own policy cost less?
Bank insurance is priced for a whole group, with little health screening when you sign. Your own policy is priced for you, so healthy people often pay less. Group insurance in Ontario also carries 8% sales tax; individual life insurance doesn't.
Do I need a medical exam?
Usually not. For most people under 50, it's health questions online or by phone. Larger amounts or some health histories can need more.
Can one policy cover both of us?
Yes. Couples can be covered with one joint policy or two separate ones. I'll price the option that fits you best.
Will you keep calling me?
No. I'll send you your price and answer your questions. After that, it's your call. No pressure, no endless follow-ups.
Should I cancel my bank's insurance?
Not until a new policy is approved and in place. Never leave yourself without coverage in between.
What if I'm happy with what I have?
Then keep it. You'll have a real price to compare with, and that's useful to know either way.
Can we do this in French?
Oui, bien sûr. Écrivez-moi en français et on continue en français.
Find out what coverage that doesn't shrink would cost you.
A few quick questions, and you'll get your price, usually within a few hours.
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