When it comes to protecting your home, 705 Insurance stands out as a trusted partner. We understand the significance of your mortgage and the need to safeguard it against life’s uncertainties. Our brokers are committed to providing comprehensive Mortgage Insurance solutions tailored to your specific situation, ensuring you and your family are prepared for whatever the future holds.

What is Mortgage Insurance?

Mortgage Insurance is a type of creditor insurance designed to cover your mortgage payments in the event of death, critical illness, or disability. This coverage ensures that your family isn’t burdened with mortgage debt during challenging times, providing financial stability and allowing them to remain in their home. Unlike traditional life insurance, Mortgage Insurance focuses exclusively on your mortgage balance.

Benefits of Mortgage Insurance with 705 Insurance

• Financial Protection: Ensure your mortgage is paid off or reduced in the event of an unexpected life event.

• Peace of Mind: Protect your family’s ability to stay in their home, even during difficult times.

• Flexible Solutions: Our brokers work with you to create a plan tailored to your mortgage and financial goals.

• Local Expertise: As a Northern Ontario brokerage, we understand the unique needs of our community and provide personalized service.

Common Questions About Mortgage Insurance

• How does it differ from traditional life insurance? While life insurance provides a lump sum to your beneficiaries, Mortgage Insurance specifically covers the remaining balance of your mortgage.

• Is it tied to my lender? Mortgage Insurance through 705 Insurance is independent of your lender, giving you greater control and flexibility.

• Can I customize my policy? Yes, our brokers work with you to tailor your coverage based on your mortgage terms and personal needs.

Clearing Up Misconceptions

Many people believe Mortgage Insurance through their lender is their only option, but this can be costly and inflexible. Independent Mortgage Insurance offers better control, often at more competitive rates. Another misconception is that Mortgage Insurance is unnecessary if you already have life insurance. While life insurance provides general financial protection, Mortgage Insurance ensures your home is specifically covered.

Real-Life Examples

• For New Homeowners: A couple purchasing their first home secures Mortgage Insurance to ensure their investment is protected, providing peace of mind as they start their new chapter.

• For Families: A family with young children uses Mortgage Insurance to guarantee their home is paid off in case of an unforeseen event, allowing their kids to grow up in the home they love.

• For Retirees: A retiree with a small remaining mortgage balance chooses Mortgage Insurance to protect their spouse from financial strain.

The 705 Insurance Difference

At 705 Insurance, we’re committed to helping you safeguard your most significant asset. Our brokers take the time to understand your needs, providing clear guidance and tailored solutions to protect your home and your family’s future. Don’t leave your mortgage to chance—contact us today to secure personalized Mortgage Insurance and enjoy peace of mind!