L'assurance de ma banque est-elle obligatoire pour obtenir mon prêt ?

Non. Selon l'AMF, vous avez le droit de refuser l'assurance proposée par votre prêteur. Aucun créancier ne peut conditionner l'octroi d'un prêt à l'achat de son assurance.

Pourquoi la banque fait-elle la sélection médicale à la réclamation ?

Avec l'assurance prêt bancaire, la vérification médicale se fait au décès ou à l'invalidité. Une condition préexistante peut entraîner un refus. Une police individuelle évalue le dossier à la souscription.

Puis-je annuler l'assurance bancaire si j'en ai déjà une ?

Oui, en tout temps. Vous pouvez résilier l'assurance prêt bancaire par écrit et la remplacer par une police individuelle.

Que se passe-t-il si je change de banque au renouvellement ?

Avec l'assurance bancaire, vous perdez votre protection. Avec une police individuelle, la protection reste la même peu importe où est votre hypothèque.

Quel capital choisir pour une hypothèque de 300 000 $ ?

Un capital égal ou supérieur au solde, durée correspondant à l'amortissement (T20 ou T25). Ajoutez 10-15 % pour frais funéraires et impôt sur succession.

Suis-je couvert si je refinance ma maison ?

Avec une police vie individuelle, oui : elle couvre le capital assuré peu importe la dette sous-jacente.

L'assurance hypothécaire est-elle la même chose que l'assurance SCHL ?

Non. L'assurance SCHL protège le prêteur contre votre défaut de paiement. L'assurance vie hypothécaire protège votre famille.

Combien de temps pour mettre la police en vigueur avant la signature ?

Entre 3 et 10 jours ouvrables pour un dossier simple. 2 à 4 semaines pour capitaux élevés ou examen para-médical.

Mortgage Insurance

Your bank offers you its mortgage loan insurance at signing, but did you know that individual life insurance compared by an AMF broker is almost always more advantageous? Guaranteed capital, beneficiaries of your choice, fixed premium, portable from one institution to another. Assur360 compares over 9 insurers to protect your biggest investment — free quote in 3 minutes.

IN BRIEF

Independent mortgage life insurance

Mortgage insurance offered by your lender (bank, credit union) protects the bank, not you. The sum insured decreases with the balance, but the premium remains fixed — you pay more over the years for less coverage.

Solution: Independent term life insurance (T10/T20) with equivalent coverage typically costs 2 to 3 times less and benefits your loved ones (not the bank). You stay in control.

MORTGAGE INSURANCE

Save 30-50% vs. your bank’s insurance

Fixed capital guaranteed, free beneficiaries, portable. Compare before signing at the bank.

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Insurers Compared

-40 %

Average Economy vs. Bank

3 min

To get a price

100 %

Free and without obligation

Individual Life Insurance vs. Bank Mortgage Insurance

When financing a home or commercial property, your financial institution always offers loan insurance. Convenient to sign, but at a disadvantage on almost all levels compared to individual life insurance taken out through an independent broker.

rework Selection

Criterion	Bank (mortgage)	Assur360 (Sole Proprietorship)
Principal Amount	✗ Decreases with balance	✓ Fixed, 100% Remains
Beneficiary	✗ The bank	✓ Spouse, children, whoever you want
Prime	✗ Can increase	✓ Fixed for 10, 20 or 30 years
Refinancing / changing banks	✗ Resubscribe, medical	✓ Portable, Follows Owner
Medical	✗ When making a complaint (risk of refusal)	✓ At the time of subscription (firm commitment)
Average price (40 years, $300,000)	~$55/month	~$32/month

*Indicative comparison 2026. Get your exact price.

The 3 protections around your mortgage

Comprehensive mortgage protection covers three scenarios: death, critical illness, disability. An independent broker combines these guarantees according to your budget and your family situation.

🛡️

Life insurance

Pays off the mortgage balance in the event of death. T20 life insurance is ideal for a 25-year mortgage.

🏥

Critical Illnesses

Lump sum to pay off the mortgage in the event of cancer, stroke or other serious diagnosis. See critical illness insurance.

💼

Salary insurance

Monthly income to continue paying the mortgage if you become disabled for a long time. See disability insurance.

How to get your mortgage insurance quote

Enter the mortgage amount

Balance or amount of financing, amortization, age and smoking status.

The broker shops 9+ insurers

It calibrates the capital over the amortization period (T20 or T25) and offers a combination according to your budget.

Comparison vs banking offer

The broker places the bank premium and his best offer side by side — often a saving of 30 to 50%.

Enforcement before signing at the notary

Simplified medical questionnaire, electronic signature, active policy as soon as you take possession of the house.

💡

Broker’s advice: refuse the bank’s insurance at signing

You are NOT obliged to accept the insurance offered by your bank or credit union to obtain your loan. According to the AMF, this is a free choice. Check “no” on the form and shop for your own policy: you’ll save thousands of dollars over the life of the amortization.

2026 Mortgage Life Insurance Rates in Quebec

Indicative monthly premiums for a T20 life policy, principal $300,000, non-smoker. This is what you have to compare with your bank’s offer.

woman male

Age	Non-smoking	Non-smoking	Bank equivalent
30 years	$14/month	$17/month	$30-40/month
40 years	$22/month	$32/month	$55-70/month
50 years	$52/month	$78/month	$110-140/month

*2026 indicative rates — $300,000 T20 mortgage. Your exact price in 3 min.

BEFORE SIGNING AT THE NOTARY

Compare 9+ insurers in 3 minutes

Protection is often 40% cheaper than that of the bank, with more guarantees.

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Mortgage insurance service throughout Quebec

Whether you are buying in Montreal, Quebec City, Sherbrooke, Gatineau, Laval, Trois-Rivières, Saguenay or Thetford Mines, our AMF brokers intervene quickly to ensure that your policy is in force before the notary signature. Telephone or video consultation, 100% electronic signature.

🛡️ Life insurance

T20, T30, permanent, universal — the best alternative to bank insurance.

🏥 Critical illness insurance

Capital to pay off the mortgage in the event of cancer or stroke.

💼 Salary insurance

Protects your mortgage payments in the event of a prolonged disability.

🏠 Home insurance

Protect the building and your belongings. Mandatory for most mortgages.

Frequently asked questions

Is my bank’s insurance mandatory to get my loan?

No. According to the Autorité des marchés financiers (AMF), you have the right to refuse the insurance offered by your lender. No creditor can make the granting of a loan conditional on the purchase of his insurance. You can purchase an equivalent or better policy elsewhere.

Why does the bank make the medical selection for the claim?

With bank mortgage insurance, the medical check is done at the time of death or disability, not at the time of purchase. As a result, if a pre-existing condition is discovered, the bank may refuse to pay — even after years of premiums. An individual policy evaluates the file at the time of subscription, guaranteeing payment.

Can I cancel bank insurance if I already have one?

Yes, at all times. You can cancel the bank loan insurance in writing and replace it with an individual policy. First, check that your new policy is in effect before canceling.

What happens if I change banks at renewal?

With bank insurance, you lose your protection and have to resubscribe with the new lender (new medical questionnaire, new rate according to current age). With an individual policy, the coverage remains the same no matter where your mortgage is.

What capital should you choose for a $300,000 mortgage?

We recommend a principal amount equal to or greater than the mortgage balance, with a term corresponding to the amortization (often T20 or T25). Better yet: add 10 to 15% to cover funeral expenses and any inheritance tax.

Am I covered if I refinance my home?

With an individual life policy, yes: it covers the sum insured regardless of the underlying debt, even if refinanced or renewed. With bank insurance, a refinancing may require a new selection.

Is mortgage insurance the same as CMHC insurance?

No. CMHC (Canada Mortgage and Housing Corporation) insurance is mandatory for down payments of less than 20%: it protects the lender against your default. The insurance we are talking about here protects your family in the event of death or disability. The two are distinct.

How long does it take to put the policy into effect before signing?

Allow 3 to 10 working days for a simple policy with a simplified medical questionnaire. For higher capital or a paramedical examination, allow 2 to 4 weeks. We recommend that you request your quote as soon as your promise to purchase is accepted.

Why trust Assur360?

✓AMF certified firm

✓ChAD Member

✓More than 100,000 submissions

✓13 partner firms

✓Independent brokers

✓100% free service

FREE QUOTE

Protect your biggest investment

Independent mortgage life insurance: savings + flexibility + payment guarantee.

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Last updated: April 20, 2026

Mortgage vs. Life Insurance: Compare in Quebec 2026