Mortgage Insurance


Life Insurance


Get a Mortgage Life Insurance Quote

Shelter Bay Is Your

Leading Brokerage

For Mortgage Life

Insurance Coverage

Buying a house is one of life’s biggest milestones. For most homeowners, it is also one of the biggest expenses. More often than not, a large portion of our income goes towards monthly mortgage payments. While this isn’t a topic anyone likes to think about, ask yourself this: “How would your mortgage payment be met in the event of your death?” It is absolutely necessary to have a plan in place that will protect your family from piling living expenses that won’t just disappear after you are gone. The bank and mortgage lenders will still want their payments, which could cause a great financial burden on your loved ones

With Shelter Bay‘s guidance, you can ensure your beneficiaries are protected in case something happens. Our team of brokers in Canada have years of experience and knowledge of the industry. We will offer compassionate advice and a product that is right for you. We work with clients all over British Columbia, Ontario and Alberta. If you are a homeowner, contact us today for more information on insurance policies and coverage for your mortgages.

Request A Mortgage
Life Insurance Quote

Why Do You Need

Mortgage Life

Insurance In BC?

Be prepared so you can protect your loved ones from further tragedy and financial hardship. Unlike personal life insurance, mortgage life insurance BC will directly pay off or reduce your outstanding mortgage balance after you die, regardless of mortgage rates. This is different from mortgage default insurance, which is a standard requirement of the Canada Mortgage and Housing Corporation (CMHC) if your down payment is less than 20% of the home value.


Shelter Bay Specializes In Mortgage

Insurance In Canada.

Call Today

For A Free Quote.

We Are Your BC Mortgage Insurance Brokers


Shelter Bay

Strives To Provide

An Excellent

Level Of Service

At Shelter Bay Insurance, we specialize in mortgage life and mortgage protection insurance. We help our clients choose from different types of coverage options and ensure that they know their rights and the terms of the agreement. Our team works with a variety of banks and institutions in Canada so you are content with the insurance premiums offered. When it comes to mortgage protection insurance, the mortgage life option is a coverage everyone needs to consider.


Difference Between Personal

Life Insurance

And Mortgage

Life Insurance

A mortgage decreases as it is paid down. Mortgage life insurance covers the remaining balance of your mortgage. Personal life insurance, whether its term life insurance or whole life insurance, isn’t necessarily linked to your mortgage. The former insurance term ends once your home is paid off, whereas a personal life insurance policy is not affected by the mortgage and will continue providing you and your family protection in the years to follow. Most often, the coverage is provided to beneficiaries in a lump sum payout, known as a death benefit.

When it comes to qualifying, we will ask you health-related questions. At Shelter Bay, we are committed to getting you the right coverage. That is why we will strive to provide comprehensive policy options that fit all your needs.

While some lenders offer mortgage insurance, we believe mortgage life insurance is the most beneficial protection for you and your family. Personal life insurance can be used towards home insurance payments, credit cards, education and yes, mortgage payments.

With some policies, you lose your insurance once you change your lender and will need to be requalified.

Choosing a flexible coverage that changes when you do is so important for your life and your mortgage. To learn more about mortgage protection insurance, contact us today!

However, there are benefits to purchasing a separate mortgage life insurance policy. Mortgage protection insurance will be put directly towards the balance of your mortgage. This allows your family to have more funds from other policies to put towards savings or your children’s education.


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Do You Have Questions About

Mortgage Protection Insurance?