As part of any mortgage transaction, we are required to offer you mortgage insurance – specifically the Mortgage Protection Plan, or MPP. While we will present you with the documents to accept or waive this insurance – there may be superior insurance products available. As we are not licensed to sell insurance, we cannot offer you anything except the Mortgage Protection Plan.
In our opinion, a borrower should consult with a licensed insurance professional about their mortgage insurance needs. When doing so, a borrower may wish to inquire with their licensed insurance professional about the differences between term insurance and mortgage insurance. A borrower may wish to ask their licensed insurance professional about the difference between pre-underwritten and post-underwritten insurance policies.
If at any time you wish advice about insurance, we have relationships with insurance brokers with decades of insurance experience. They will be delighted to provide you with a consultation to provide you with the best insurance value perfectly tailored to your specific needs.