UNIQUE MORTGAGE PROTECTION,WITH TERM

When it comes to protecting your mortgage, you have a choice. Go the route of a traditional lending institution, or take advantage of a great alternative from Equitable Life®, with term insurance.

 

WHAT IT IS

Equitable Life offers a choice of term life insurance plans to fit your mortgage. Available in 10 and 20 year renewable options, as well as term 30/65 which offers the lowest overall cost for 30 years of coverage.1 Term life insurance has you covered.

NOT ALL MORTGAGE PROTECTION IS CREATED EQUAL

Before you buy, ask the following questions:

 

Equitable Life

Your Lender

Do you get to pick the beneficiary?

yes

no

Is it convertible?

yes

no

Can you keep it if you move?

yes

no

Are you in control?

yes

no

When you choose to protect your mortgage with term insurance from Equitable Life, you benefit from features designed for your peace of mind.

EQUITABLE LIFE TERM INSURANCE

 

MORTGAGE INSURANCE THROUGH A LENDER

Your mortgage protection remains intact even if you switch lenders.

 

Portability

When you switch mortgage providers, you usually need to reapply for your mortgage insurance.

You own the policy and choose the beneficiary you want to receive the death benefit.

 

Control

With typical mortgage insurance, the lender owns the policy and assigns itself as

the beneficiary.

Your coverage amount remains intact

even as your mortgage balance decreases.

 

Level coverage

Typical mortgage insurance declines as your mortgage balance decreases, however your premiums stay the same.

You benefit from insurance underwritten at the time of application.

Comfort

Typical mortgage insurance is only underwritten at the time of death.

Your rates are guaranteed for the life of the policy — it’s right in the contract.

Guaranteed death benefit and premiums

Typical mortgage insurance rates are not guaranteed.

REWARDING YOUR HEALTHY LIFESTYLE

At the time of issue, your good health and lifestyle may be rewarded with better premiums.

 

CRITICAL ILLNESS INSURANCE FOR COMPLETE PROTECTION

A critical illness could impact your ability to make your mortgage payments. Adding a critical illness insurance rider2 can provide funds to help cover your mortgage payments, and other personal and medical expenses so you can focus on your recovery.

It’s a simple way to provide comprehensive, flexible and affordable protection.

 

BUILT-IN EXTRAS

Term insurance from Equitable Life automatically includes:

  • Guaranteed conversion As your needs change, you can convert your temporary coverage to permanent protection with no medical exam required.
  • Living benefit 3 Pays out a portion of the death benefit to you upon diagnosis of a terminal illness.
  • Bereavement counselling benefit 4 Reimburses the cost of grief counselling to help support those left behind.

 

TERM: IT’S IDEAL…

If you’re looking for financial protection for a specified period of time with the option of making changes as your protection needs change, Term may be right for you.

 

Talk to your advisor about Term insurance today.

1 Maximum issue age for term 30/65 is age 55.

2 Provides a lump-sum benefit, following the diagnosis of one of the covered conditions, and a survival period of usually 30 days. See contract for full details.

3 Policy must be in good standing. The living benefit is paid upon diagnosis of an illness that will become terminal within 24 months.

4 Up to $500 shared among all beneficiaries.