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Mortgage life insurance is an insurance policy which protects the heirs of a borrower from losses due to a default in mortgage loan payment. The default in payment could be as a result of the death of the insured, a critical illness, or a disability that prevents them from earning an income. Mortgage insurance can be either public or private, depending on who the insurer is.

Term insurance plans provide guaranteed coverage during the term of your contract, typically for 10, 20, or 30 years, or until the age of 65. It's usually less expensive than other types of insurance. During the term, your premium is guaranteed and will not increase. Term insurance plans can usually be converted to permanent plans, up to a certain time or age, and are renewable for additional terms, without you providing insurability evidence, such as health and financial requirements.

Whole life insurance plans provide coverage for your entire life. When you pass away, your beneficiaries will receive the death benefit, provided that regular and adequate premium payments have been made. Permanent insurance plans could include attractive investment options that will enhance your savings substantially, usually on tax-advantaged bases. Whole life insurance plans play an important role in estate planning and tax optimizing strategies.

At Mission Insurance, we guarantee you the best rates in Alberta. This is because we have deep-rooted partnerships with Canada's leading mortgage insurance providers. Also, our strong network of seasoned insurance advisors have good working relationships with our partner insurance providers, and are commited to finding you the best rate from the pool of mortgage insurance plans in their arsenal. You have an ally in our insurance advisors. Their only goal is to secure you the best deal. So, there will be no up-selling, and you save 40% on premiums through our rate comparison service.

You can buy mortgage insurance when you purchase a new home, when you want to renegotiate your mortgage, or whenever you want a better, smarter, more flexible solution for you and your loved ones.

Yes, you are in total control of your mortgage insurance coverage amount. You can choose the right coverage amount based on your financial plan, and your coverage will never decrease regardless of your mortgage balance. However, with a lender’s insurance, your coverage amount decreases and will always equal the balance on your mortgage loan.

Yes, you have the absolute right to name the beneficiary(ies) of your mortgage life insurance. This is because our solutions are privately owned insurance policies. Your beneficiary(ies) will receive the lump-sum, tax-free death benefit, and then decide how to use it based on their plans and priorities. This is unlike lenders' insurance, where the sole beneficiary of your mortgage insurance is your lender.

With Mission Insurance, your insurance policy is portable. So, if you change your lender in the future, your insurance coverage continues regardless of your health condition.

We are an Alberta-based independent motgage insurance broker. Our physical address is at Mission, Calgary at 305-2204 2 St. SW, T2S 3C2. Our mission is to secure the best-personalized and affordable insurance solutions for the people of Alberta so that they can have guaranteed coverage for their health and finances.