{"id":20173,"date":"2019-10-18T10:27:59","date_gmt":"2019-10-18T14:27:59","guid":{"rendered":"https:\/\/www.assur360.ca\/blog\/home-insurance-in-quebec-2\/mortgage-life-insurance\/"},"modified":"2026-04-17T20:02:02","modified_gmt":"2026-04-18T00:02:02","slug":"mortgage-life-insurance","status":"publish","type":"post","link":"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance\/","title":{"rendered":"Mortgage Life Insurance"},"content":{"rendered":"\n<script type=\"application\/ld+json\">{\"@context\": \"https:\/\/schema.org\", \"@type\": \"Article\", \"@id\": \"https:\/\/www.assur360.ca\/blog\/mes-finances\/assurance-vie-hypothecaire\/#article\", \"headline\": \"Assurance vie hypoth\u00e9caire au Qu\u00e9bec \u2014 Guide complet 2026\", \"url\": \"https:\/\/www.assur360.ca\/blog\/mes-finances\/assurance-vie-hypothecaire\/\", \"datePublished\": \"2019-10-18T10:27:59\", \"dateModified\": \"2026-04-05T08:00:00\", \"author\": {\"@type\": \"Person\", \"name\": \"Jean Boissonneault\", \"url\": \"https:\/\/www.assur360.ca\/blog\/author\/admin\/\", \"description\": \"Jean Boissonneault est courtier d'assurance de dommages et propri\u00e9taire d'Assur360, une plateforme de mise en contact avec des courtiers partenaires certifi\u00e9s en assurance de personnes.\", \"hasCredential\": {\"@type\": \"EducationalOccupationalCredential\", \"credentialCategory\": \"Permis de cabinet en assurance de dommages (n\u00ba 2000037336) \u2014 les soumissions d'assurance vie sont trait\u00e9es par des courtiers partenaires certifi\u00e9s en assurance de personnes\", \"recognizedBy\": {\"@type\": \"Organization\", \"name\": \"Autorit\u00e9 des march\u00e9s financiers\", \"url\": \"https:\/\/lautorite.qc.ca\"}}}, \"publisher\": {\"@type\": \"Organization\", \"name\": \"Assur360\", \"url\": \"https:\/\/www.assur360.ca\", \"logo\": {\"@type\": \"ImageObject\", \"url\": \"https:\/\/www.assur360.ca\/wp-content\/uploads\/2024\/01\/assur360-logo.png\"}}, \"inLanguage\": \"fr-CA\", \"description\": \"Guide complet sur l'assurance vie hypoth\u00e9caire au Qu\u00e9bec : diff\u00e9rences avec la protection bancaire, co\u00fbts compar\u00e9s, remboursement en cas de d\u00e9c\u00e8s et conseils de courtier.\"}\n<\/script>\n\n<div style=\"height:41px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 ez-toc-wrap-center counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">sommaire interactif<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #5b5b5b;color:#5b5b5b\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #5b5b5b;color:#5b5b5b\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance\/#What-is-mortgage-life-insurance\" >What is mortgage life insurance?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance\/#Mortgage-Life-Insurance-vs-Individual-Life-Insurance\" >Mortgage Life Insurance vs. Individual Life Insurance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance\/#Do-you-need-mortgage-life-insurance\" >Do you need mortgage life insurance?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance\/#Why-is-bank-mortgage-life-insurance-risky\" >Why is bank mortgage life insurance risky?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance\/#How-much-does-mortgage-life-insurance-cost-in-Quebec\" >How much does mortgage life insurance cost in Quebec?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance\/#How-does-reimbursement-work-in-the-event-of-death\" >How does reimbursement work in the event of death?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance\/#Mortgage-life-insurance-what-the-AMF-says\" >Mortgage life insurance: what the AMF says<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance\/#Our-Life-Insurance-Resources\" >Our Life Insurance Resources<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance\/#Frequently-Asked-Questions-%E2%80%94-Mortgage-Life-Insurance\" >Frequently Asked Questions \u2014 Mortgage Life Insurance<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What-is-mortgage-life-insurance\"><\/span>What is mortgage life insurance?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p class=\"wp-block-paragraph\">Mortgage life insurance is an insurance policy specifically designed to protect your mortgage. If the policyholder dies or becomes incapacitated, the cover pays off the balance of the mortgage. This protects your family from the risk of losing the family home as a result of an unforeseen event.  <\/p>\n\n<p class=\"wp-block-paragraph\">There are two main ways to purchase this type of protection: <strong>mortgage default insurance offered by your financial institution<\/strong> (bank or credit union), or an <strong>individual life insurance policy<\/strong> purchased from an independent broker. These two options have very different mechanisms \u2014 and their financial implications deserve to be fully understood before signing anything. <\/p>\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Mortgage-Life-Insurance-vs-Individual-Life-Insurance\"><\/span>Mortgage Life Insurance vs. Individual Life Insurance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p class=\"wp-block-paragraph\">The structure of bank mortgage loan insurance is as follows: at the beginning of the contract, the value of the coverage is equal to the outstanding capital on the mortgage. As you pay off your loan, the coverage decreases \u2014 but the premium remains the same. The bank is the direct beneficiary.  <\/p>\n\n<p class=\"wp-block-paragraph\">Here are the main features of bank mortgage insurance:<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>The bank is the beneficiary<\/strong> \u2014 unlike individual life insurance policies in which the insured freely chooses his beneficiaries.<\/li>\n\n\n\n<li><strong>Declining coverage<\/strong> \u2014 the insured value decreases with the mortgage balance, but the premium remains fixed.<\/li>\n\n\n\n<li><strong>Non-transferable<\/strong> \u2014 the policy is tied to a specific mortgage and cannot be transferred if you change ownership or lenders.<\/li>\n\n\n\n<li><strong>No cash value<\/strong> \u2014 at the end of coverage, no premiums are refunded.<\/li>\n\n\n\n<li><strong>Post-claim underwriting<\/strong> \u2014 in some cases, eligibility is only verified at the time of a claim (not at the time of purchase), which can create unpleasant surprises.<\/li>\n<\/ul>\n\n<p class=\"wp-block-paragraph\">Mortgage life insurance is <strong>not required by law<\/strong>. If a financial institution tries to force you to buy their insurance as a condition of your mortgage, this is a <em>tied selling<\/em> practice, which is illegal in Canada. <\/p>\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Do-you-need-mortgage-life-insurance\"><\/span>Do you need mortgage life insurance?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p class=\"wp-block-paragraph\">The real question isn&#8217;t whether you need protection on your mortgage \u2014 you almost certainly need it if loved ones depend on your income. The real question is: <strong>which form of protection is right for you?<\/strong> <\/p>\n\n<p class=\"wp-block-paragraph\">To answer this question, a financial advisor or life insurance broker can analyze your specific needs and recommend the most advantageous solution. The life insurance market is very competitive \u2014 don&#8217;t buy the first policy your bank presents without comparing. <\/p>\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why-is-bank-mortgage-life-insurance-risky\"><\/span>Why is bank mortgage life insurance risky?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p class=\"wp-block-paragraph\">Many consumers and financial advisors have been harshly critical of the mortgage default insurance offered by banks. Here are the three main issues to remember: <\/p>\n\n<h3 class=\"wp-block-heading\">1. The beneficiary is the bank, not your family<\/h3>\n\n<p class=\"wp-block-paragraph\">With bank insurance, in the event of death, the benefit is paid directly to the bank to pay off the remaining mortgage balance. Your family has no control over this money. She can&#8217;t decide to continue the mortgage and use the funds in other ways \u2014 for example, to replace the deceased&#8217;s income for a few years, pay for the children&#8217;s education, or manage other debts.  <\/p>\n\n<p class=\"wp-block-paragraph\">With an individual life insurance policy, your designated beneficiaries receive the benefit in cash and can use it according to their current priorities.<\/p>\n\n<h3 class=\"wp-block-heading\">2. Coverage is decreasing \u2014 but the premium is not<\/h3>\n\n<p class=\"wp-block-paragraph\">Bank insurance tracks the balance of your mortgage: as you pay it off, the coverage decreases. Yet, you continue to pay the same monthly premium for the entire term of the loan. In practice, you get less and less protection for the same money every year.  <\/p>\n\n<p class=\"wp-block-paragraph\">Individual term life insurance, on the other hand, offers a fixed amount of coverage for the duration of the term \u2014 and in many cases, at a lower cost.<\/p>\n\n<h3 class=\"wp-block-heading\">3. Post-claim pricing creates uncertainty<\/h3>\n\n<p class=\"wp-block-paragraph\">Some bank mortgage insurance products operate on the principle of <strong>post-underwriting<\/strong> : medical eligibility is only verified at the time of a claim, not at the time of application. As a result, you can pay premiums for years and be denied the benefit when your family needs it most. <\/p>\n\n<p class=\"wp-block-paragraph\">For an in-depth analysis of these risks, see our dedicated article: <a href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance-why-you-should-always-refuse-your-banks\/\">Mortgage life insurance: why refuse the bank&#8217;s insurance<\/a>.<\/p>\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How-much-does-mortgage-life-insurance-cost-in-Quebec\"><\/span>How much does mortgage life insurance cost in Quebec?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p class=\"wp-block-paragraph\">Here is a comparison of the estimated monthly premiums for an individual term life insurance policy (T20, healthy non-smoker) versus typical bank mortgage insurance, depending on the amount of the mortgage and the age of the insured:<\/p>\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Mortgage amount<\/th><th>30 years \u2014 Individual policy<\/th><th>30 years \u2014 Bank (est.)<\/th><th>40 years \u2014 Individual policy<\/th><th>40 years \u2014 Bank (est.)<\/th><th>50 years \u2014 Individual policy<\/th><th>50 years \u2014 Bank (est.)<\/th><\/tr><\/thead><tbody><tr><td>$200,000<\/td><td>~$15\/month<\/td><td>~$30\/month<\/td><td>~$28\/month<\/td><td>~$48\/month<\/td><td>~$60\/month<\/td><td>~$90\/month<\/td><\/tr><tr><td>$400,000<\/td><td>~$25\/month<\/td><td>~$55\/month<\/td><td>~$48\/month<\/td><td>~$90\/month<\/td><td>~$110\/month<\/td><td>~$170\/month<\/td><\/tr><tr><td>$600,000<\/td><td>~$35\/month<\/td><td>~$80\/month<\/td><td>~$70\/month<\/td><td>~$130\/month<\/td><td>~$160\/month<\/td><td>~$250\/month<\/td><\/tr><\/tbody><\/table><\/figure>\n\n<p class=\"wp-block-paragraph\"><em>Bank prices are average estimates based on market data. Individual premiums vary depending on the insurer, health record and options chosen. Important reminder: the individual policy maintains its fixed coverage for 20 years, while the bank coverage gradually decreases with the repayment of the mortgage.  <\/em><\/p>\n\n<p class=\"wp-block-paragraph\">In most cases, an individual policy purchased by an independent broker is <strong>30 to 50 per cent less expensive<\/strong> than bank mortgage default insurance \u2014 while offering superior protection. To get your exact price, request a <a href=\"https:\/\/www.assur360.ca\/en\/life-insurance-quote-request-a-quote\/\">free life insurance quote<\/a>. <\/p>\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How-does-reimbursement-work-in-the-event-of-death\"><\/span>How does reimbursement work in the event of death?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p class=\"wp-block-paragraph\">The claims process varies depending on the type of policy purchased, but here&#8217;s how it typically works with individual life insurance:<\/p>\n\n<ol class=\"wp-block-list\">\n<li><strong>Declaration of death<\/strong> : The designated beneficiary (spouse, child, estate) contacts the insurer and provides the death certificate and policy documents.<\/li>\n\n\n\n<li><strong>Claim processing<\/strong> : The insurer reviews the documents. In the vast majority of cases (natural or accidental death), the claim is approved within a few weeks. <\/li>\n\n\n\n<li><strong>Payment of the benefit<\/strong> : The insured amount (e.g., $400,000) is paid directly to the recipients, free of any legal obligation to repay the mortgage.<\/li>\n\n\n\n<li><strong>Family decision<\/strong> : The family decides how to use the funds. She can pay off the mortgage to keep the house, invest the funds, or combine the two as needed. <\/li>\n<\/ol>\n\n<p class=\"wp-block-paragraph\">This process is in contrast to bank insurance, where the bank receives the benefit directly and closes the loan \u2014 without leaving any flexibility to the family. In some situations (for example, if the family preferred to sell the house and use the proceeds in other ways), the rigidity of the banking product can be very disadvantageous. <\/p>\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Mortgage-life-insurance-what-the-AMF-says\"><\/span>Mortgage life insurance: what the AMF says<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p class=\"wp-block-paragraph\">In Quebec, life insurance \u2014 whether individual or mortgage \u2014 is regulated by the <a href=\"https:\/\/lautorite.qc.ca\/grand-public\/assurances\/assurance-vie\" target=\"_blank\" rel=\"noopener noreferrer\">Autorit\u00e9 des march\u00e9s financiers (AMF).<\/a> The AMF regulates the commercial practices of insurers and protects consumers against abusive practices. <\/p>\n\n<p class=\"wp-block-paragraph\">Some important points to remember about your rights as a consumer:<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>No obligation<\/strong> : mortgage insurance is never mandatory. Your financial institution cannot make the approval of your mortgage conditional on the purchase of its insurance (tied selling prohibited). <\/li>\n\n\n\n<li><strong>Right to shop<\/strong> : You are free to compare offers and purchase your insurance with the insurer or broker of your choice.<\/li>\n\n\n\n<li><strong>Full disclosure<\/strong> : The insurer or representative must provide you with all information about the coverages, exclusions, and terms of the policy prior to signing.<\/li>\n\n\n\n<li><strong>Cooling-off period<\/strong> : Some products include a penalty-free cancellation period (often 10 days), allowing you to change your mind after signing.<\/li>\n<\/ul>\n\n<p class=\"wp-block-paragraph\">If you believe that you have been the victim of a misleading commercial practice or tied selling, you can file a complaint directly with the AMF. Their site also offers free guides to help you understand your life insurance rights. <\/p>\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Our-Life-Insurance-Resources\"><\/span>Our Life Insurance Resources<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p class=\"wp-block-paragraph\">To deepen your knowledge of life insurance products and make the best choices for your family, check out our comprehensive guides:<\/p>\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.assur360.ca\/en\/life-insurance-compare-online\/\">Complete Guide \u2014 Life Insurance in Quebec<\/a> : Everything You Need to Know About Available Life Insurance Products.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.assur360.ca\/en\/blog\/comparator-price-in-3-minutes\/term-life-insurance-2\/\">T10, T20, T30 Term Life Insurance<\/a> : A Guide to Comparing Terms, Costs and Use Cases.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance-why-you-should-always-refuse-your-banks\/\">Why refuse mortgage insurance from your bank<\/a> : detailed analysis of the risks and alternatives.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.assur360.ca\/en\/disability-insurance-in-quebec\/\">Disability insurance<\/a> : Protect your income in the event of prolonged incapacity for work.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.assur360.ca\/en\/life-insurance-quote-request-a-quote\/\">Free life insurance quote<\/a> : Compare the best offers on the market in minutes.<\/li>\n<\/ul>\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Frequently-Asked-Questions-%E2%80%94-Mortgage-Life-Insurance\"><\/span>Frequently Asked Questions \u2014 Mortgage Life Insurance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<details id=\"assurance-hypothecaire-obligatoire-quebec\" class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong>Is mortgage life insurance mandatory in Quebec?<\/strong><\/summary>\n<p class=\"wp-block-paragraph\">No. Mortgage life insurance is never legally mandatory. Your bank cannot impose its own insurance on you as a condition of your loan approval. You are free to purchase the coverage of your choice from the insurer or broker of your choice.  <\/p>\n<\/details>\n\n<details id=\"difference-assurance-bancaire-vs-individuelle\" class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong>What is the difference between bank insurance and an individual policy?<\/strong><\/summary>\n<p class=\"wp-block-paragraph\">With bank insurance, the beneficiary is the bank, the coverage decreases with the mortgage balance, and the policy is non-transferable. With an individual policy, your loved ones receive the benefit in cash, the coverage remains fixed for the duration of the term, and you can keep your policy even if you change lenders. <\/p>\n<\/details>\n\n<details id=\"combien-coute-assurance-hypothecaire-individuelle\" class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong>How much does individual mortgage insurance cost compared to the bank?<\/strong><\/summary>\n<p class=\"wp-block-paragraph\">In most cases, an individual life insurance policy taken out through a broker costs 30 to 50% less than bank mortgage default insurance, for fixed (non-decreasing) coverage. For example, for a $400,000 mortgage at age 40, an individual policy costs about $48\/month compared to $90\/month for bank protection. <\/p>\n<\/details>\n\n<details id=\"qui-recoit-largent-assurance-vie-hypothecaire\" class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong>Who receives the money in the event of death?<\/strong><\/summary>\n<p class=\"wp-block-paragraph\">With an individual policy, your designated beneficiary (spouse, children, estate) receives the death benefit directly. The family can then freely decide how to use the funds: pay off the mortgage, replace lost income, or whatever. With bank insurance, the bank receives the funds directly and closes the loan.  <\/p>\n<\/details>\n\n<details id=\"peut-on-garder-assurance-si-on-change-de-banque\" class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong>Can I keep my insurance if I change banks or properties?<\/strong><\/summary>\n<p class=\"wp-block-paragraph\">With an individual policy, yes \u2014 it&#8217;s independent of your mortgage and follows you everywhere. With bank insurance, no: the policy is linked to a specific mortgage with a specific institution. If you change lenders or refinance, you must purchase new coverage.  <\/p>\n<\/details>\n\n<details id=\"post-tarification-assurance-bancaire\" class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong>What is post-pricing in bank mortgage insurance?<\/strong><\/summary>\n<p class=\"wp-block-paragraph\">Post-underwriting means that medical eligibility is verified only at the time of a claim, not at the time of underwriting. This means you can pay premiums for years and be denied the benefit at the time of death if pre-existing medical conditions are discovered. This is one of the most misunderstood risks in bank insurance.  <\/p>\n<\/details>\n\n<details id=\"assurance-invalidite-et-hypotheque\" class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong>Should I also get disability insurance to protect my mortgage?<\/strong><\/summary>\n<p class=\"wp-block-paragraph\">Yes, it is highly recommended. Life insurance protects your mortgage in the event of your death, but if you are a victim of long-term disability, disability <a href=\"https:\/\/www.assur360.ca\/en\/disability-insurance-in-quebec\/\">insurance<\/a> takes over to replace your income and allow you to continue to repay your loan. Statistically, long-term disability is more common than premature death before retirement.  <\/p>\n<\/details>\n\n<details id=\"comment-obtenir-meilleure-assurance-hypothecaire\" class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong>How do I get the best insurance for my mortgage?<\/strong><\/summary>\n<p class=\"wp-block-paragraph\">The best approach is to consult an independent broker who can compare several insurers for your profile. Avoid taking out the insurance offered by your bank without having compared.  At Assur360, our certified life and health insurance broker partners make this comparison free of charge and recommend the most advantageous solution.  <a href=\"https:\/\/www.assur360.ca\/en\/life-insurance-quote-request-a-quote\/\">Request your free quote here.<\/a><\/p>\n<\/details>\n\n<script type=\"application\/ld+json\">{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [\n    {\n      \"@type\": \"Question\",\n      \"name\": \"L'assurance vie hypoth\u00e9caire est-elle obligatoire au Qu\u00e9bec ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Non. L'assurance vie hypoth\u00e9caire n'est jamais obligatoire l\u00e9galement. Votre banque ne peut pas vous imposer sa propre assurance comme condition d'approbation de votre pr\u00eat. Vous \u00eates libre de souscrire la protection de votre choix aupr\u00e8s de l'assureur ou du courtier que vous pr\u00e9f\u00e9rez.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Quelle est la diff\u00e9rence entre l'assurance de la banque et une police individuelle ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Avec l'assurance bancaire, le b\u00e9n\u00e9ficiaire est la banque, la couverture diminue avec le solde hypoth\u00e9caire et la police n'est pas transf\u00e9rable. Avec une police individuelle, vos proches re\u00e7oivent la prestation en esp\u00e8ces, la couverture reste fixe pendant toute la dur\u00e9e du terme, et vous pouvez garder votre police m\u00eame si vous changez de pr\u00eateur.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Combien co\u00fbte une assurance hypoth\u00e9caire individuelle compar\u00e9e \u00e0 la banque ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Dans la majorit\u00e9 des cas, une police d'assurance vie individuelle souscrite via un courtier co\u00fbte 30 \u00e0 50 % moins cher que l'assurance pr\u00eat hypoth\u00e9caire bancaire, pour une couverture fixe (non d\u00e9croissante). Par exemple, pour une hypoth\u00e8que de 400 000 $ \u00e0 40 ans, une police individuelle co\u00fbte environ 48 $\/mois contre 90 $\/mois pour la protection bancaire.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Qui re\u00e7oit l'argent en cas de d\u00e9c\u00e8s ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Avec une police individuelle, c'est votre b\u00e9n\u00e9ficiaire d\u00e9sign\u00e9 (conjoint, enfants, succession) qui re\u00e7oit directement la prestation de d\u00e9c\u00e8s. La famille peut alors d\u00e9cider librement comment utiliser les fonds : rembourser l'hypoth\u00e8que, remplacer le revenu perdu, ou autre. Avec l'assurance bancaire, la banque re\u00e7oit directement les fonds et cl\u00f4ture le pr\u00eat.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Puis-je garder mon assurance si je change de banque ou de propri\u00e9t\u00e9 ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Avec une police individuelle, oui \u2014 elle est ind\u00e9pendante de votre hypoth\u00e8que et vous suit partout. Avec l'assurance bancaire, non : la police est li\u00e9e \u00e0 une hypoth\u00e8que sp\u00e9cifique aupr\u00e8s d'une institution pr\u00e9cise. Si vous changez de pr\u00eateur ou refinancez, vous devez souscrire une nouvelle protection.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Qu'est-ce que la post-tarification dans l'assurance hypoth\u00e9caire bancaire ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"La post-tarification signifie que l'admissibilit\u00e9 m\u00e9dicale est v\u00e9rifi\u00e9e seulement au moment d'une r\u00e9clamation, pas \u00e0 la souscription. Vous pouvez donc payer des primes pendant des ann\u00e9es et vous voir refuser la prestation au moment du d\u00e9c\u00e8s si des conditions m\u00e9dicales pr\u00e9existantes sont d\u00e9couvertes. C'est l'un des risques les plus m\u00e9connus de l'assurance bancaire.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Devrais-je aussi souscrire une assurance invalidit\u00e9 pour prot\u00e9ger mon hypoth\u00e8que ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Oui, c'est fortement recommand\u00e9. L'assurance vie prot\u00e8ge votre hypoth\u00e8que en cas de d\u00e9c\u00e8s, mais si vous \u00eates victime d'une invalidit\u00e9 prolong\u00e9e, c'est l'assurance invalidit\u00e9 qui prend le relais pour remplacer votre revenu et vous permettre de continuer \u00e0 rembourser votre pr\u00eat. 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