{"id":39089,"date":"2026-03-26T11:41:07","date_gmt":"2026-03-26T15:41:07","guid":{"rendered":"https:\/\/www.assur360.ca\/blog\/home-insurance-in-quebec-2\/mortgage-life-insurance-why-you-should-always-refuse-your-banks\/"},"modified":"2026-04-05T21:58:13","modified_gmt":"2026-04-06T01:58:13","slug":"mortgage-life-insurance-why-you-should-always-refuse-your-banks","status":"publish","type":"post","link":"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance-why-you-should-always-refuse-your-banks\/","title":{"rendered":"Mortgage life insurance: why you should always refuse your bank&#8217;s"},"content":{"rendered":"\n<script type=\"application\/ld+json\">{\"@context\": \"https:\/\/schema.org\", \"@type\": \"Article\", \"headline\": \"Assurance-vie hypoth\u00e9caire : pourquoi vous devriez toujours refuser celle de votre banque\", \"description\": \"Guide complet sur l'assurance-vie hypoth\u00e9caire au Qu\u00e9bec. D\u00e9couvrez les 7 raisons de refuser l'offre de votre banque et pourquoi l'assurance-vie temporaire ind\u00e9pendante est meilleure et moins ch\u00e8re.\", \"datePublished\": \"2026-03-26\", \"dateModified\": \"2026-03-26\", \"author\": {\"@type\": \"Person\", \"name\": \"Jean Boissonneault\", \"url\": \"https:\/\/www.assur360.ca\/blog\/author\/app\/\", \"description\": \"Jean Boissonneault, courtier d'assurance associ\u00e9 certifi\u00e9 AMF (n\u00ba 2000037336), est propri\u00e9taire d'Assur360 et courtier depuis plus de 30 ans.\", \"hasCredential\": {\"@type\": \"EducationalOccupationalCredential\", \"credentialCategory\": \"Permis de cabinet en assurance de dommages (n\u00ba 2000037336)\", \"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\/2022\/01\/assur360-logo.png\"}}, \"mainEntityOfPage\": {\"@type\": \"WebPage\", \"@id\": \"https:\/\/www.assur360.ca\/blog\/assurance\/assurance-vie-hypothecaire-pourquoi-refuser\/\"}, \"about\": [{\"@type\": \"Thing\", \"name\": \"Assurance-vie hypoth\u00e9caire\", \"sameAs\": \"https:\/\/fr.wikipedia.org\/wiki\/Assurance_hypoth%C3%A9caire\"}, {\"@type\": \"Thing\", \"name\": \"Assurance-vie temporaire\"}, {\"@type\": \"Thing\", \"name\": \"Pr\u00eat hypoth\u00e9caire\"}, {\"@type\": \"Thing\", \"name\": \"Courtier d'assurance\"}], \"mentions\": [{\"@type\": \"Organization\", \"name\": \"Autorit\u00e9 des march\u00e9s financiers\", \"sameAs\": \"https:\/\/lautorite.qc.ca\/\"}, {\"@type\": \"Organization\", \"name\": \"Agence de la consommation en mati\u00e8re financi\u00e8re du Canada\", \"sameAs\": \"https:\/\/www.canada.ca\/fr\/agence-consommation-matiere-financiere.html\"}, {\"@type\": \"Organization\", \"name\": \"Chambre de la s\u00e9curit\u00e9 financi\u00e8re\", \"sameAs\": \"https:\/\/chambresf.com\/\"}, {\"@type\": \"Organization\", \"name\": \"Assuris\", \"sameAs\": \"https:\/\/www.assuris.ca\/\"}], \"inLanguage\": \"fr-CA\", \"isPartOf\": {\"@type\": \"WebSite\", \"name\": \"Assur360\", \"url\": \"https:\/\/www.assur360.ca\"}}<\/script>\n\n<script type=\"application\/ld+json\">{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"BreadcrumbList\",\n  \"itemListElement\": [\n    {\"@type\": \"ListItem\", \"position\": 1, \"name\": \"Accueil\", \"item\": \"https:\/\/www.assur360.ca\/\"},\n    {\"@type\": \"ListItem\", \"position\": 2, \"name\": \"Blog\", \"item\": \"https:\/\/www.assur360.ca\/blog\/\"},\n    {\"@type\": \"ListItem\", \"position\": 3, \"name\": \"Assurance\", \"item\": \"https:\/\/www.assur360.ca\/blog\/category\/assurance\/\"},\n    {\"@type\": \"ListItem\", \"position\": 4, \"name\": \"Assurance-vie hypoth\u00e9caire : pourquoi refuser\"}\n  ]\n}\n<\/script>\n\n<p class=\"has-text-color\" style=\"color:#475569;font-size:18px;line-height:1.8\"><strong>Mortgage life insurance is a declining life insurance contract sold by banks and credit unions at the time of signing a mortgage.<\/strong>  In the event of the borrower&#8217;s death, it repays the remaining balance of the loan directly to the financial institution \u2014 not to your family. According to the <a href=\"https:\/\/lautorite.qc.ca\/grand-public\/assurance\/assurance-de-personnes\/assurance-vie\" target=\"_blank\" rel=\"noopener\">Autorit\u00e9 des march\u00e9s financiers (AMF),<\/a> it is in Quebec&#8217;s best interest to compare before accepting this offer. Here&#8217;s why an <a href=\"https:\/\/www.assur360.ca\/en\/blog\/home-insurance-in-quebec-2\/my-insurance-broker-2\/\">independent insurance broker<\/a> will always recommend saying no \u2014 and which alternative to choose instead. <\/p>\n\n<div class=\"wp-block-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:16px;padding-top:40px;padding-right:40px;padding-bottom:40px;padding-left:40px;background:linear-gradient(135deg, #0d1f2d 0%, #1a3a4a 100%)\">\n\n<p class=\"has-text-align-center has-text-color\" style=\"color:#10c4c7;font-size:14px;letter-spacing:2px;text-transform:uppercase\">Protect your family, not your bank<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_83 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-why-you-should-always-refuse-your-banks\/#Get-independent-life-insurance-%E2%80%94-often-15-to-40-cheaper\" >Get independent life insurance \u2014 often 15% to 40% cheaper<\/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-why-you-should-always-refuse-your-banks\/#What-is-mortgage-life-insurance-in-Quebec\" >What is mortgage life insurance in Quebec?<\/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-why-you-should-always-refuse-your-banks\/#7-reasons-to-refuse-your-banks-life-insurance\" >7 reasons to refuse your bank&#8217;s 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-you-should-always-refuse-your-banks\/#How-much-does-mortgage-life-insurance-cost-vs-term-life-insurance\" >How much does mortgage life insurance cost vs term life insurance?<\/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-why-you-should-always-refuse-your-banks\/#Full-Comparison-Chart-Mortgage-Insurance-vs-Individual-Life-Insurance\" >Full Comparison Chart: Mortgage 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-6\" href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance-why-you-should-always-refuse-your-banks\/#The-smart-alternative-term-life-insurance\" >The smart alternative: term life insurance<\/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-why-you-should-always-refuse-your-banks\/#The-little-known-trap-the-banks-mortgage-disability-insurance\" >The little-known trap: the bank&#8217;s mortgage disability insurance<\/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-why-you-should-always-refuse-your-banks\/#Already-have-mortgage-life-insurance-Heres-how-to-migrate\" >Already have mortgage life insurance? Here&#8217;s how to migrate<\/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-why-you-should-always-refuse-your-banks\/#What-your-bank-will-never-tell-you\" >What your bank will never tell you<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance-why-you-should-always-refuse-your-banks\/#Related-Life-Insurance-Resources\" >Related Life Insurance Resources<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance-why-you-should-always-refuse-your-banks\/#Talk-to-an-independent-broker-%E2%80%94-its-free-and-no-obligation\" >Talk to an independent broker \u2014 it&#8217;s free and no obligation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance-why-you-should-always-refuse-your-banks\/#Frequently-Asked-Questions-%E2%80%94-Mortgage-Life-Insurance-in-Quebec\" >Frequently Asked Questions \u2014 Mortgage Life Insurance in Quebec<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/mortgage-life-insurance-why-you-should-always-refuse-your-banks\/#Protect-your-family-not-your-bank\" >Protect your family, not your bank<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading has-text-align-center has-text-color\" style=\"color:#ffffff;font-size:32px;font-weight:700\"><span class=\"ez-toc-section\" id=\"Get-independent-life-insurance-%E2%80%94-often-15-to-40-cheaper\"><\/span>Get independent life insurance \u2014 often 15% to 40% cheaper<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-text-align-center has-text-color\" style=\"color:#94a3b8;font-size:16px\">Our brokers compare Desjardins, iA Financial Group, Beneva, Canada Life, Manulife and Sun Life to find you the optimal protection.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n\n<div class=\"wp-block-button\" style=\"font-size:18px;font-weight:700\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.assur360.ca\/en\/quick-quote-life-insurance\/\" style=\"border-radius:30px;color:#ffffff;background-color:#10c4c7;padding-top:16px;padding-right:48px;padding-bottom:16px;padding-left:48px\">Compare my life insurance options\u2192<\/a><\/div>\n\n<\/div>\n\n<\/div>\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h2 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:28px;font-weight:700\"><span class=\"ez-toc-section\" id=\"What-is-mortgage-life-insurance-in-Quebec\"><\/span>What is mortgage life insurance in Quebec?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p style=\"font-size:16px;line-height:1.8\">Mortgage life insurance is a <strong>fixed-premium, decreasing life insurance<\/strong> product sold directly by financial institutions (Desjardins, National Bank, RBC, TD, BMO, Scotia) at the time of signing a mortgage. Its coverage decreases each month according to the balance of the loan, but the monthly premiums remain the same for the duration of the contract. The <a href=\"https:\/\/lautorite.qc.ca\/grand-public\/assurance\/lassurance-vendue-par-les-preteurs-et-les-commercants\" target=\"_blank\" rel=\"noopener\">AMF points out<\/a> that this product is sold by lenders, not by insurance of persons advisors, which implies different protections for the consumer.  <\/p>\n\n<p style=\"font-size:16px;line-height:1.8\">Mortgage life insurance should not be confused with CMHC (Canada Mortgage and Housing Corporation) <strong>mortgage default insurance<\/strong> , which is mandatory when your down payment is less than 20% and protects the lender from default. Mortgage life insurance, on the other hand, is <strong>always optional<\/strong> \u2014 and it&#8217;s a product that any <a href=\"https:\/\/www.assur360.ca\/en\/blog\/home-insurance-in-quebec-2\/independent-insurance-broker\/\">independent broker<\/a> will advise you not to. <\/p>\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h2 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:28px;font-weight:700\"><span class=\"ez-toc-section\" id=\"7-reasons-to-refuse-your-banks-life-insurance\"><\/span>7 reasons to refuse your bank&#8217;s life insurance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h3 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:22px;font-weight:700\">1. A blanket that melts like snow in the sun<\/h3>\n\n<p style=\"font-size:16px;line-height:1.8\">This is the most fundamental flaw. <strong>Your coverage decreases each month<\/strong> as your loan balance increases, but your monthly premium remains the same for the duration of the contract. So you&#8217;re paying more and more for less and less protection \u2014 something no independent financial advisor would recommend. <\/p>\n\n<p style=\"font-size:16px;line-height:1.8\">Let&#8217;s take a concrete example: you borrow <strong>$350,000<\/strong> over 25 years at 5% interest. At first, your coverage is worth $350,000. After 15 years of faithful payments, you&#8217;re only left with about <strong>$170,000 in balance<\/strong> \u2014 but you&#8217;re still paying the same premium as on Day 1. In fact, the actual cost of your insurance per dollar of coverage <strong>doubles<\/strong> after 15 years. Use our <a href=\"https:\/\/www.assur360.ca\/en\/mortgage-calculators-2\/\">mortgage calculator<\/a> to see how your balance is decreasing.    <\/p>\n\n<p style=\"font-size:16px;line-height:1.8\">With <strong><a href=\"https:\/\/www.assur360.ca\/en\/blog\/comparator-price-in-3-minutes\/term-life-insurance-2\/\">standalone term life insurance<\/a><\/strong> , coverage remains fixed at $350,000 for the duration of the term, regardless of your mortgage balance. Your family receives the full amount and is free to decide how it is used. <\/p>\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h3 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:22px;font-weight:700\">2. The beneficiary is the bank \u2014 not your family<\/h3>\n\n<p style=\"font-size:16px;line-height:1.8\">In the event of death, the mortgage life insurance benefit is paid <strong>directly to your financial institution<\/strong> to repay the loan. Your spouse, your children, don&#8217;t get a penny. However, at the time of a death, a family faces much more than the mortgage payment: funeral expenses (between <strong>$5,000 and $15,000<\/strong> in Quebec depending on <a href=\"https:\/\/www.coop-funeraire.com\/\" target=\"_blank\" rel=\"noopener\">the funeral cooperative),<\/a> loss of income, consumer debts, childcare costs, children&#8217;s education.  <\/p>\n\n<p style=\"font-size:16px;line-height:1.8\">With <a href=\"https:\/\/www.assur360.ca\/en\/life-insurance-compare-online\/\">independent life insurance<\/a>, <strong>you choose your beneficiary<\/strong>. Your family receives the full amount and can decide whether to pay off the mortgage, cover ongoing costs, or even keep the home while paying off the mortgage with the investment income from the capital received. According <a href=\"https:\/\/www.canada.ca\/fr\/agence-consommation-matiere-financiere\/services\/droits-responsabilites\/droits-hypotheques.html\" target=\"_blank\" rel=\"noopener\">to the Financial Consumer Agency of Canada (FCAC),<\/a> it&#8217;s your right to choose a life insurance policy that pays the benefit to the person of your choice.  <\/p>\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h3 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:22px;font-weight:700\">3. No portability \u2014 switch banks, lose your insurance<\/h3>\n\n<p style=\"font-size:16px;line-height:1.8\">In Quebec, mortgage renewals generally occur every <strong>5 years<\/strong>. If you find a better rate elsewhere and decide to transfer your loan, your mortgage life insurance <strong>automatically cancels<\/strong>. You will need to purchase a new one from the new institution \u2014 at your current age, with a new medical assessment.  <\/p>\n\n<p style=\"font-size:16px;line-height:1.8\">If your health has changed in the meantime (diagnosis of diabetes, heart problem, cancer), you could find yourself <strong>without insurance or with considerably higher premiums<\/strong>. This risk is real: according to Statistics Canada, about <strong>44% of Canadians aged 45 to 64<\/strong> live with at least one chronic condition, and <strong>1 in 3 Canadians<\/strong> will experience a period of disability of 90 days or more before the age of 65. <\/p>\n\n<p style=\"font-size:16px;line-height:1.8\">Independent <a href=\"https:\/\/www.assur360.ca\/en\/life-insurance-compare-online\/\">life insurance<\/a> is <strong>fully portable<\/strong>. Change banks as many times as you want \u2014 your policy follows you, without interruption or reassessment. It is a guaranteed protection that does not depend on your banking relationship.  <\/p>\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h3 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:22px;font-weight:700\">4. The medical examination is done after your death (post-pricing)<\/h3>\n\n<p style=\"font-size:16px;line-height:1.8\">This is the most controversial aspect of mortgage life insurance. Unlike individual life insurance where your <strong>insurability is confirmed at the time of purchase<\/strong>, mortgage insurance often uses a process called &#8220;<em>post-claim underwriting<\/em>&#8220;. <strong> You fill out a short health questionnaire at the bank \u2014 often in a few minutes, between signatures. But the real medical evaluation is only done <\/strong><strong>at the time of the claim<\/strong>, i.e. after your death.   <\/p>\n\n<p style=\"font-size:16px;line-height:1.8\">If the insurer then discovers an omission or inaccuracy in your initial answers \u2014 even if it is unintentional \u2014 it may <strong>refuse to pay the claim<\/strong>. Journalistic investigations, including CBC <strong>Marketplace&#8217;s<\/strong> <em>In Denial<\/em> report, have documented real-life cases of Quebec and Canadian families whose mortgage life insurance claims have been denied after the death of their spouse. An expert cited in the survey, Jim Bullock (35 years of insurance experience), said that the banks&#8217; simplified medical questionnaire is &#8220;<em>virtually impossible to fill out correctly<\/em>&#8221; for an unaccompanied consumer.  <\/p>\n\n<p style=\"font-size:16px;line-height:1.8\">With individual life insurance purchased through a <a href=\"https:\/\/www.assur360.ca\/en\/home-and-auto-insurance-broker-2\/\">certified broker<\/a>, the medical assessment is completed <strong>before<\/strong> the policy comes into effect. Once approved, your family can <strong>be confident<\/strong> that the benefit will be paid. No unpleasant surprises at the worst time. The <a href=\"https:\/\/chambresf.com\/\" target=\"_blank\" rel=\"noopener\">Chambre de la s\u00e9curit\u00e9 financi\u00e8re (CSF)<\/a> also regulates the advisory obligations of insurance of persons representatives in Quebec.   <\/p>\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h3 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:22px;font-weight:700\">5. No broker, no advice \u2014 a clear conflict of interest<\/h3>\n\n<p style=\"font-size:16px;line-height:1.8\">When your bank advisor offers you mortgage life insurance, they sell the product from <strong>their own employer<\/strong>. It does not compare the market. He doesn&#8217;t work for you \u2014 he works for the bank. It is a structural conflict of interest recognised by the AMF. In addition, bank advisors are often not certified professionals in insurance of persons: in Quebec, only representatives licensed <strong>by the AMF in insurance of persons<\/strong> are authorized to advise you adequately on these products.    <\/p>\n\n<p style=\"font-size:16px;line-height:1.8\">An <strong><a href=\"https:\/\/www.assur360.ca\/en\/blog\/home-insurance-in-quebec-2\/my-insurance-broker-2\/\">independent insurance broker<\/a><\/strong>, supervised by the AMF and the CSF, has a legal duty to advise you in your best interest. It compares offers from <strong>dozens of insurers<\/strong> \u2014 Desjardins Insurance, iA Financial Group, Beneva, Canada Life, Manulife, Sun Life, and others \u2014 to find the best coverage at the best price for <strong>your<\/strong> specific situation. This comparison service is <strong>free of charge<\/strong> for the consumer. <a href=\"https:\/\/www.assur360.ca\/en\/quick-quote-life-insurance\/\">Get your quote<\/a> in minutes.  <\/p>\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h3 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:22px;font-weight:700\">6. Premiums often 15% to 40% more expensive than the market<\/h3>\n\n<p style=\"font-size:16px;line-height:1.8\">Since mortgage life insurance is sold on a non-competitive basis, premiums are typically <strong>15% to 40% higher<\/strong> than equivalent term life insurance in the individual market. The bank takes advantage of the convenience of the moment: you&#8217;re in the process of signing your mortgage, you&#8217;re stressed, and adding a checkbox seems so much easier than shopping elsewhere. <\/p>\n\n<p style=\"font-size:16px;line-height:1.8\">Financial institutions earn <strong>significant profit margins<\/strong> on this product \u2014 much higher than the margins of individual life insurance. This is precisely why the selling pressure is so strong at the time of signing. <\/p>\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h3 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:22px;font-weight:700\">7. No flexibility or customization<\/h3>\n\n<p style=\"font-size:16px;line-height:1.8\">Mortgage life insurance is a &#8220;one-size-fits-all&#8221; product. No choice of amount of coverage (i.e. the balance of the loan), no choice of term (i.e. amortization), no possible endorsements (disability, <a href=\"https:\/\/www.assur360.ca\/en\/critical-illness-insurance-4\/\">critical illness<\/a>, waiver of premiums). <a href=\"https:\/\/www.assur360.ca\/en\/blog\/comparator-price-in-3-minutes\/term-life-insurance-2\/\">Individual life insurance<\/a> allows you to <strong>customize your coverage<\/strong> : choose an amount higher than your mortgage, add <a href=\"https:\/\/www.assur360.ca\/en\/salary-insurance-3\/\">disability<\/a> or critical illness coverage, provide a conversion clause to permanent insurance, and even include coverage for your spouse.  <\/p>\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h2 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:28px;font-weight:700\"><span class=\"ez-toc-section\" id=\"How-much-does-mortgage-life-insurance-cost-vs-term-life-insurance\"><\/span>How much does mortgage life insurance cost vs term life insurance?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p style=\"font-size:16px;line-height:1.8\">Here is a comparison of the approximate monthly costs for $ <strong>350,000<\/strong> coverage, based on Quebec market data (non-smoker, good health). Term life insurance premiums are based on comparative quotes from independent brokers: <\/p>\n\n<figure class=\"wp-block-table is-style-stripes\"><table style=\"border-radius:12px\"><thead><tr><th style=\"background-color:#0d1f2d;color:#ffffff;padding:14px 18px;font-weight:700\">Age<\/th><th style=\"background-color:#0d1f2d;color:#ffffff;padding:14px 18px;font-weight:700\">Mortgage insurance (bank)<\/th><th style=\"background-color:#0d1f2d;color:#ffffff;padding:14px 18px;font-weight:700\">Term 20 Life Insurance (Broker)<\/th><th style=\"background-color:#0d1f2d;color:#ffffff;padding:14px 18px;font-weight:700\">Monthly savings<\/th><th style=\"background-color:#0d1f2d;color:#ffffff;padding:14px 18px;font-weight:700\">20-year savings<\/th><\/tr><\/thead><tbody><tr><td style=\"padding:12px 18px\"><strong>30 years<\/strong><\/td><td style=\"padding:12px 18px\">$30 \u2013 $40\/month<\/td><td style=\"padding:12px 18px\">$18 \u2013 $25\/month<\/td><td style=\"padding:12px 18px\">~$15\/month<\/td><td style=\"padding:12px 18px\"><strong>~$3,600<\/strong><\/td><\/tr><tr><td style=\"padding:12px 18px\"><strong>35 years<\/strong><\/td><td style=\"padding:12px 18px\">$35 \u2013 $45\/month<\/td><td style=\"padding:12px 18px\">$20 \u2013 $28\/month<\/td><td style=\"padding:12px 18px\">~$16\/month<\/td><td style=\"padding:12px 18px\"><strong>~$3,840<\/strong><\/td><\/tr><tr><td style=\"padding:12px 18px\"><strong>40 years<\/strong><\/td><td style=\"padding:12px 18px\">$50 \u2013 $70\/month<\/td><td style=\"padding:12px 18px\">$30 \u2013 $42\/month<\/td><td style=\"padding:12px 18px\">~$24\/month<\/td><td style=\"padding:12px 18px\"><strong>~$5,760<\/strong><\/td><\/tr><tr><td style=\"padding:12px 18px\"><strong>45 years<\/strong><\/td><td style=\"padding:12px 18px\">$75 \u2013 $100\/month<\/td><td style=\"padding:12px 18px\">$45 \u2013 $62\/month<\/td><td style=\"padding:12px 18px\">~$34\/month<\/td><td style=\"padding:12px 18px\"><strong>~$8,160<\/strong><\/td><\/tr><tr><td style=\"padding:12px 18px\"><strong>50 years<\/strong><\/td><td style=\"padding:12px 18px\">$110 \u2013 $150\/month<\/td><td style=\"padding:12px 18px\">$70 \u2013 $95\/month<\/td><td style=\"padding:12px 18px\">~$48\/month<\/td><td style=\"padding:12px 18px\"><strong>~$11,520<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n<p class=\"has-text-color\" style=\"color:#94a3b8;font-size:14px;font-style:italic\">* Indicative premiums based on the 2026 Quebec market. Actual amounts vary by gender, health status and insurer. <a href=\"https:\/\/www.assur360.ca\/en\/quick-quote-life-insurance\/\" style=\"color:#10c4c7\">Get your personalized quote<\/a> for an accurate price. <\/p>\n\n<p style=\"font-size:16px;line-height:1.8\"><strong>Important:<\/strong> These savings are calculated for a <em>fixed<\/em> coverage of $350,000 in term insurance, while mortgage insurance coverage <em>decreases<\/em> each month. The value for money of term life insurance is therefore even better than what the table suggests. <\/p>\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h2 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:28px;font-weight:700\"><span class=\"ez-toc-section\" id=\"Full-Comparison-Chart-Mortgage-Insurance-vs-Individual-Life-Insurance\"><\/span>Full Comparison Chart: Mortgage Insurance vs. Individual Life Insurance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<figure class=\"wp-block-table is-style-stripes\"><table style=\"border-radius:12px\"><thead><tr><th style=\"background-color:#0d1f2d;color:#ffffff;padding:14px 18px;font-weight:700\">Criterion<\/th><th style=\"background-color:#0d1f2d;color:#ffffff;padding:14px 18px;font-weight:700\">Mortgage insurance (bank)<\/th><th style=\"background-color:#0d1f2d;color:#ffffff;padding:14px 18px;font-weight:700\">Individual Life Insurance (Broker)<\/th><\/tr><\/thead><tbody><tr><td style=\"padding:12px 18px\"><strong>Blanket<\/strong><\/td><td style=\"padding:12px 18px\">Descending (follows the loan balance)<\/td><td style=\"padding:12px 18px\">Fixed for the duration of the term<\/td><\/tr><tr><td style=\"padding:12px 18px\"><strong>Beneficiary<\/strong><\/td><td style=\"padding:12px 18px\">The bank<\/td><td style=\"padding:12px 18px\">Your family (your choice)<\/td><\/tr><tr><td style=\"padding:12px 18px\"><strong>Portability<\/strong><\/td><td style=\"padding:12px 18px\">No \u2014 cancelled if bank change<\/td><td style=\"padding:12px 18px\">Yes \u2014 follows you everywhere<\/td><\/tr><tr><td style=\"padding:12px 18px\"><strong>Medical Assessment<\/strong><\/td><td style=\"padding:12px 18px\">After death (post-pricing)<\/td><td style=\"padding:12px 18px\">Before issuance (certainty of payment)<\/td><\/tr><tr><td style=\"padding:12px 18px\"><strong>Advisor<\/strong><\/td><td style=\"padding:12px 18px\">Bank employee<\/td><td style=\"padding:12px 18px\">AMF certified independent broker<\/td><\/tr><tr><td style=\"padding:12px 18px\"><strong>Bonuses<\/strong><\/td><td style=\"padding:12px 18px\">15% to 40% higher<\/td><td style=\"padding:12px 18px\">Competitive (market compared)<\/td><\/tr><tr><td style=\"padding:12px 18px\"><strong>Customization<\/strong><\/td><td style=\"padding:12px 18px\">No options<\/td><td style=\"padding:12px 18px\">Disability Riders, Critical Illness, Waiver<\/td><\/tr><tr><td style=\"padding:12px 18px\"><strong>Transformation<\/strong><\/td><td style=\"padding:12px 18px\">Impossible<\/td><td style=\"padding:12px 18px\">Convertible to permanent insurance<\/td><\/tr><tr><td style=\"padding:12px 18px\"><strong>Tax-free benefit<\/strong><\/td><td style=\"padding:12px 18px\">Yes (loan repayment)<\/td><td style=\"padding:12px 18px\">Yes (paid to your beneficiaries)<\/td><\/tr><tr><td style=\"padding:12px 18px\"><strong>25th Month Disability Protection<\/strong><\/td><td style=\"padding:12px 18px\">Definition changes: &#8220;any occupation&#8221;<\/td><td style=\"padding:12px 18px\">Definition of &#8220;your profession&#8221; maintained<\/td><\/tr><\/tbody><\/table><\/figure>\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h2 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:28px;font-weight:700\"><span class=\"ez-toc-section\" id=\"The-smart-alternative-term-life-insurance\"><\/span>The smart alternative: term life insurance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p style=\"font-size:16px;line-height:1.8\">Term life insurance (10, 20 or 30 years) is the recommended solution for independent financial advisors and <a href=\"https:\/\/www.assur360.ca\/en\/financial-services-3\/\">financial planning<\/a> to protect a mortgage. This is the product that any serious <a href=\"https:\/\/www.assur360.ca\/en\/blog\/home-insurance-in-quebec-2\/home-insurance-broker\/\">insurance broker<\/a> will recommend in place of the bank&#8217;s mortgage insurance: <\/p>\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-6885ed49 wp-block-columns-is-layout-flex\">\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n\n<div class=\"wp-block-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:12px;border-left-color:#10c4c7;border-left-width:4px;background-color:#f8fafc;padding-top:28px;padding-right:28px;padding-bottom:28px;padding-left:28px\">\n\n<h3 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:18px;font-weight:700\">Savings of $3,000 to $11,000<\/h3>\n\n\n<p class=\"has-text-color\" style=\"color:#64748b;font-size:15px\">Premiums 15% to 40% cheaper for higher fixed coverage. Over 20 years, a 40-year-old homeowner saves an average of <strong>$5,760<\/strong> with term life insurance. <\/p>\n\n<\/div>\n\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n\n<div class=\"wp-block-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:12px;border-left-color:#10c4c7;border-left-width:4px;background-color:#f8fafc;padding-top:28px;padding-right:28px;padding-bottom:28px;padding-left:28px\">\n\n<h3 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:18px;font-weight:700\">Lifetime Guaranteed Protection<\/h3>\n\n\n<p class=\"has-text-color\" style=\"color:#64748b;font-size:15px\">Pre-issuance <strong> medical evaluation. Once approved, your coverage is guaranteed \u2014 no unpleasant surprises at the time of claim. Protected by <a href=\"https:\/\/www.assuris.ca\/\" target=\"_blank\" rel=\"noopener\" style=\"color:#10c4c7\">Assuris<\/a>.<\/strong>  <\/p>\n\n<\/div>\n\n<\/div>\n\n<\/div>\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-6885ed49 wp-block-columns-is-layout-flex\">\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n\n<div class=\"wp-block-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:12px;border-left-color:#10c4c7;border-left-width:4px;background-color:#f8fafc;padding-top:28px;padding-right:28px;padding-bottom:28px;padding-left:28px\">\n\n<h3 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:18px;font-weight:700\">Your family first<\/h3>\n\n\n<p class=\"has-text-color\" style=\"color:#64748b;font-size:15px\">Beneficiary = your family, not the bank. She receives the full amount <strong>tax-free<\/strong> and decides how to use it: mortgage, living expenses, children&#8217;s education. <\/p>\n\n<\/div>\n\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n\n<div class=\"wp-block-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:12px;border-left-color:#10c4c7;border-left-width:4px;background-color:#f8fafc;padding-top:28px;padding-right:28px;padding-bottom:28px;padding-left:28px\">\n\n<h3 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:18px;font-weight:700\">Portability and convertibility<\/h3>\n\n\n<p class=\"has-text-color\" style=\"color:#64748b;font-size:15px\">Change banks without losing your insurance. In addition, most term policies are <strong>convertible to permanent<\/strong> without further evidence of insurability. <\/p>\n\n<\/div>\n\n<\/div>\n\n<\/div>\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h2 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:28px;font-weight:700\"><span class=\"ez-toc-section\" id=\"The-little-known-trap-the-banks-mortgage-disability-insurance\"><\/span>The little-known trap: the bank&#8217;s mortgage disability insurance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p style=\"font-size:16px;line-height:1.8\">In addition to life insurance, your bank will likely offer you <strong>mortgage disability insurance<\/strong>. This product deserves the same vigilance. Bank disability coverage has a major pitfall: after the <strong>first 24 months<\/strong>, the definition of disability changes. For the first 2 years, you are covered if you are unable to practise <strong>your profession<\/strong>. But from the 25th month, the definition switches to &#8221; <strong>any reasonable occupation<\/strong> &#8220;. This means that even if you can no longer practice your trade, the insurer can stop paying benefits if you are deemed fit to do <em>any job<\/em>.     <\/p>\n\n<p style=\"font-size:16px;line-height:1.8\"><a href=\"https:\/\/www.assur360.ca\/en\/salary-insurance-3\/\">Individual disability insurance<\/a> (salary insurance) usually offers a definition of &#8220;own occupation&#8221; that is maintained over the life of the benefit, and covers a percentage of <strong>your total income<\/strong>, not just your mortgage payment.<\/p>\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h2 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:28px;font-weight:700\"><span class=\"ez-toc-section\" id=\"Already-have-mortgage-life-insurance-Heres-how-to-migrate\"><\/span>Already have mortgage life insurance? Here&#8217;s how to migrate <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p style=\"font-size:16px;line-height:1.8\">If you&#8217;ve already taken out life insurance from your bank, don&#8217;t panic \u2014 and most importantly, <strong>don&#8217;t cancel it until you&#8217;ve purchased an alternative<\/strong>. Here are the 4 recommended steps: <\/p>\n\n<ol class=\"wp-block-list\" style=\"font-size:16px;line-height:1.8\">\n<li><strong>Talk to an independent insurance broker<\/strong> \u2014 get term life insurance <a href=\"https:\/\/www.assur360.ca\/en\/quick-quote-life-insurance\/\">quotes<\/a> tailored to your situation. It&#8217;s free and without obligation. <\/li>\n<li><strong>Compare coverages and premiums<\/strong> between your current mortgage insurance and market offerings. Pay attention to exclusions, portability and the beneficiary.<\/li>\n<li><strong>Wait until you are approved<\/strong> for the new policy before cancelling the old one. Never <strong>go without<\/strong> coverage, even for a single day. <\/li>\n<li><strong>Cancel your mortgage insurance<\/strong> once the new policy is in effect. Cancellation is <strong>without penalty<\/strong> and can be made at any time. <\/li>\n<\/ol>\n\n<p style=\"font-size:16px;line-height:1.8\">According to the <a href=\"https:\/\/lautorite.qc.ca\/grand-public\/assurance\/assurance-de-personnes\/assurance-vie\" target=\"_blank\" rel=\"noopener\">AMF<\/a>, you have a <strong>10-day resolution period<\/strong> after taking out any insurance to cancel it free of charge. But even after that time, cancelling your mortgage life insurance is <strong>penalty-free<\/strong> \u2014it&#8217;s your right. Also consult our guide on <a href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/how-to-cancel-your-quebec-insurance-contract\/\">how to cancel an insurance contract in Quebec<\/a>.  <\/p>\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h2 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:28px;font-weight:700\"><span class=\"ez-toc-section\" id=\"What-your-bank-will-never-tell-you\"><\/span>What your bank will never tell you<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p style=\"font-size:16px;line-height:1.8\">Your bank advisor may imply that insurance is <strong>mandatory<\/strong> to get the loan. This is false. In Quebec, under <a href=\"https:\/\/www.legisquebec.gouv.qc.ca\/fr\/document\/lc\/D-9.2\" target=\"_blank\" rel=\"noopener\">the Act respecting the distribution of financial products and services<\/a>, no institution can make the approval of a mortgage loan conditional on the purchase of its life insurance. The <a href=\"https:\/\/lautorite.qc.ca\/\" target=\"_blank\" rel=\"noopener\">AMF<\/a> and <a href=\"https:\/\/www.oaciq.com\/\" target=\"_blank\" rel=\"noopener\">the OACIQ<\/a> regularly remind consumers of this right.   <\/p>\n\n<p style=\"font-size:16px;line-height:1.8\">If a bank advisor pressures you to purchase their mortgage life insurance, or suggests that the loan depends on it, you can <a href=\"https:\/\/lautorite.qc.ca\/grand-public\/assistance-et-plainte\/porter-plainte\" target=\"_blank\" rel=\"noopener\">file a complaint with the AMF<\/a>. You have the right to take the time necessary to shop around and compare before committing. <\/p>\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h2 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:28px;font-weight:700\"><span class=\"ez-toc-section\" id=\"Related-Life-Insurance-Resources\"><\/span>Related Life Insurance Resources<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p style=\"font-size:16px;line-height:1.8\">To deepen your knowledge of life insurance in general, Assur360 connects you with certified broker partners who can answer any questions you may have. Check out our guides: <\/p>\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.assur360.ca\/en\/life-insurance-compare-online\/\">Complete Guide to Life Insurance Quebec<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.assur360.ca\/en\/permanent-life-insurance-in-quebec\/\">Permanent life insurance<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.assur360.ca\/en\/life-insurance-without-a-medical-exam-in-quebec\/\">Life insurance without a medical exam<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.assur360.ca\/en\/disability-insurance-in-quebec\/\">Disability Insurance<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.assur360.ca\/en\/blog\/comparator-price-in-3-minutes\/term-life-insurance-2\/\">Term life insurance<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/10-things-to-know-about-life-insurance-2\/\">10 things to know about life insurance<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.assur360.ca\/en\/life-insurance-quote-request-a-quote\/\">Get a free quote<\/a><\/li>\n<\/ul>\n\n<p style=\"font-size:16px;line-height:1.8\">If you&#8217;re in the process of buying a home, also check out our <a href=\"https:\/\/www.assur360.ca\/en\/2026-home-insurance-guide-in-quebec\/\">2026 home insurance guide<\/a> \u2014 because <a href=\"https:\/\/www.assur360.ca\/en\/home-insurance-3-minute-quote\/\">home insurance<\/a> is really required by your lender.<\/p>\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<div class=\"wp-block-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:16px;padding-top:40px;padding-right:40px;padding-bottom:40px;padding-left:40px;background:linear-gradient(135deg, #0d1f2d 0%, #1a3a4a 100%)\">\n\n<p class=\"has-text-align-center has-text-color\" style=\"color:#10c4c7;font-size:14px;letter-spacing:2px;text-transform:uppercase\">Stop overpaying for less coverage<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center has-text-color\" style=\"color:#ffffff;font-size:28px;font-weight:700\"><span class=\"ez-toc-section\" id=\"Talk-to-an-independent-broker-%E2%80%94-its-free-and-no-obligation\"><\/span>Talk to an independent broker \u2014 it&#8217;s free and no obligation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-text-align-center has-text-color\" style=\"color:#94a3b8;font-size:16px\">Our insurance brokers compare Desjardins, iA, Beneva, Canada Life, Manulife and Sun Life for you \u2014 and it&#8217;s <strong>100% free<\/strong>.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n\n<div class=\"wp-block-button\" style=\"font-size:18px;font-weight:700\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.assur360.ca\/en\/quick-quote-life-insurance\/\" style=\"border-radius:30px;color:#ffffff;background-color:#10c4c7;padding-top:16px;padding-right:48px;padding-bottom:16px;padding-left:48px\">Get my free quote\u2192<\/a><\/div>\n\n<\/div>\n\n<\/div>\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<h2 class=\"wp-block-heading has-text-color\" style=\"color:#0d1f2d;font-size:28px;font-weight:700\"><span class=\"ez-toc-section\" id=\"Frequently-Asked-Questions-%E2%80%94-Mortgage-Life-Insurance-in-Quebec\"><\/span>Frequently Asked Questions \u2014 Mortgage Life Insurance in Quebec<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<details class=\"wp-block-details\" style=\"border:1px solid #e2e8f0;border-radius:12px;padding:20px 24px;margin-bottom:12px\">\n<summary style=\"font-weight:700;font-size:17px;color:#0d1f2d;cursor:pointer\">Is mortgage life insurance mandatory in Quebec?<\/summary>\n<p style=\"margin-top:12px;font-size:15px;color:#475569;line-height:1.7\"><strong>No, mortgage life insurance is never mandatory.<\/strong> Under the <a href=\"https:\/\/www.legisquebec.gouv.qc.ca\/fr\/document\/lc\/D-9.2\" target=\"_blank\" rel=\"noopener\">Act respecting the distribution of financial products and services<\/a>, no financial institution may make the approval of a mortgage loan conditional on the purchase of its life insurance. The <a href=\"https:\/\/lautorite.qc.ca\/\" target=\"_blank\" rel=\"noopener\">Autorit\u00e9 des march\u00e9s financiers (AMF)<\/a> explicitly confirms this. You have the full right to shop for your own <a href=\"https:\/\/www.assur360.ca\/en\/life-insurance-compare-online\/\">life insurance<\/a> with an independent broker, and the bank <strong>cannot refuse your loan<\/strong> for this reason.  <\/p>\n<\/details>\n<details class=\"wp-block-details\" style=\"border:1px solid #e2e8f0;border-radius:12px;padding:20px 24px;margin-bottom:12px\">\n<summary style=\"font-weight:700;font-size:17px;color:#0d1f2d;cursor:pointer\">What is the difference between mortgage life insurance and term life insurance?<\/summary>\n<p style=\"margin-top:12px;font-size:15px;color:#475569;line-height:1.7\">Mortgage life insurance offers <strong>decreasing coverage<\/strong> that decreases with the balance of your loan, and the beneficiary is the bank. <a href=\"https:\/\/www.assur360.ca\/en\/blog\/comparator-price-in-3-minutes\/term-life-insurance-2\/\">Term life insurance<\/a> provides <strong>fixed coverage<\/strong> for the duration of the term (10, 20 or 30 years), the beneficiary is the person of your choice, it is fully portable if you switch financial institutions, and it usually costs <strong>15% to 40% less<\/strong>. <\/p>\n<\/details>\n<details class=\"wp-block-details\" style=\"border:1px solid #e2e8f0;border-radius:12px;padding:20px 24px;margin-bottom:12px\">\n<summary style=\"font-weight:700;font-size:17px;color:#0d1f2d;cursor:pointer\">How much does mortgage life insurance cost vs term life insurance?<\/summary>\n<p class=\"has-text-color\" style=\"margin-top:12px;font-size:15px;color:#475569;line-height:1.7\">Term life insurance typically costs <strong>15% to 40% less<\/strong>. Example: A 35-year-old non-smoker can pay about <strong>$20 to $28\/month<\/strong> for $350,000 of fixed coverage in a 20-year term, compared to <strong>$35 to $45\/month<\/strong> for decreasing coverage through the bank. At age 50, the gap widens further: <strong>$70-95\/month<\/strong> (broker) vs. <strong>$110-150\/month<\/strong> (bank). Over 20 years, the savings reach <strong>$3,600 to $11,500<\/strong> depending on age. <a href=\"https:\/\/www.assur360.ca\/en\/quick-quote-life-insurance\/\" style=\"color:#10c4c7\">Get your personalized quote<\/a>.   <\/p>\n<\/details>\n<details class=\"wp-block-details\" style=\"border:1px solid #e2e8f0;border-radius:12px;padding:20px 24px;margin-bottom:12px\">\n<summary style=\"font-weight:700;font-size:17px;color:#0d1f2d;cursor:pointer\">Can I cancel my mortgage life insurance at any time?<\/summary>\n<p class=\"has-text-color\" style=\"margin-top:12px;font-size:15px;color:#475569;line-height:1.7\"><strong>Yes, at any time and without penalty.<\/strong>  The AMF grants a 10-day cancellation period after subscription to cancel free of charge. Even after this period, cancellation remains free of charge. <strong>Important:<\/strong> Purchase your new individual life insurance first and wait until you are approved before cancelling mortgage insurance. Check out our guide: <a href=\"https:\/\/www.assur360.ca\/en\/blog\/my-finances-2\/how-to-cancel-your-quebec-insurance-contract\/\" style=\"color:#10c4c7\">how to cancel an insurance contract in Quebec<\/a>. <\/p>\n<\/details>\n<details class=\"wp-block-details\" style=\"border:1px solid #e2e8f0;border-radius:12px;padding:20px 24px;margin-bottom:12px\">\n<summary style=\"font-weight:700;font-size:17px;color:#0d1f2d;cursor:pointer\">What is post-claim underwriting?<\/summary>\n<p style=\"margin-top:12px;font-size:15px;color:#475569;line-height:1.7\">Post-pricing is a controversial process used by banks for mortgage life insurance. You fill out a short health questionnaire at the bank (in a few minutes), but the <strong>real in-depth medical assessment is done at the time of the claim \u2014 after you die<\/strong>. If the insurer discovers an omission or inaccuracy, even if unintentional, it may <strong>refuse to pay the indemnity<\/strong>. Journalistic investigations (CBC Marketplace <em>In Denial<\/em>) have documented real cases of refusal. With individual life insurance, the valuation is completed <strong>before<\/strong> the policy is issued.    <\/p>\n<\/details>\n<details class=\"wp-block-details\" style=\"border:1px solid #e2e8f0;border-radius:12px;padding:20px 24px;margin-bottom:12px\">\n<summary style=\"font-weight:700;font-size:17px;color:#0d1f2d;cursor:pointer\">What happens if I switch banks with mortgage life insurance?<\/summary>\n<p class=\"has-text-color\" style=\"margin-top:12px;font-size:15px;color:#475569;line-height:1.7\">Your mortgage life insurance <strong>is automatically cancelled<\/strong> if you transfer your loan. You will need to purchase new insurance from the new bank, at your current age and with a new medical assessment. If your health has changed, you could be <strong>turned away or pay a lot more<\/strong>. Statistics Canada reports that 44% of Canadians aged 45 to 64 live with at least one chronic condition. With <a href=\"https:\/\/www.assur360.ca\/en\/life-insurance-compare-online\/\" style=\"color:#10c4c7\">individual life insurance<\/a>, your policy follows you \u2014 no changes required.    <\/p>\n<\/details>\n<details class=\"wp-block-details\" style=\"border:1px solid #e2e8f0;border-radius:12px;padding:20px 24px;margin-bottom:12px\">\n<summary style=\"font-weight:700;font-size:17px;color:#0d1f2d;cursor:pointer\">Who is the beneficiary of mortgage life insurance?<\/summary>\n<p style=\"margin-top:12px;font-size:15px;color:#475569;line-height:1.7\">The beneficiary is <strong>the financial institution<\/strong> (bank or credit union). In the event of death, the indemnity is used exclusively to repay the balance of the loan. Your family does not receive anything directly. With individual life insurance, <strong>you choose your beneficiary<\/strong> (spouse, children, estate) and the amount is paid <strong>tax-free<\/strong> to be used freely: to pay off the mortgage, cover living expenses, funeral expenses or children&#8217;s education.   <\/p>\n<\/details>\n<details class=\"wp-block-details\" style=\"border:1px solid #e2e8f0;border-radius:12px;padding:20px 24px;margin-bottom:12px\">\n<summary style=\"font-weight:700;font-size:17px;color:#0d1f2d;cursor:pointer\">Can my bank refuse my loan if I refuse its life insurance?<\/summary>\n<p style=\"margin-top:12px;font-size:15px;color:#475569;line-height:1.7\"><strong>Absolutely not.<\/strong> Under the <a href=\"https:\/\/www.legisquebec.gouv.qc.ca\/fr\/document\/lc\/D-9.2\" target=\"_blank\" rel=\"noopener\">Act respecting the distribution of financial products and services<\/a>, the bank cannot make the approval of your mortgage loan conditional on the purchase of its life insurance. If an advisor exerts undue pressure, you can <a href=\"https:\/\/lautorite.qc.ca\/grand-public\/assistance-et-plainte\/porter-plainte\" target=\"_blank\" rel=\"noopener\">file a complaint with the AMF<\/a>. <a href=\"https:\/\/www.canada.ca\/fr\/agence-consommation-matiere-financiere.html\" target=\"_blank\" rel=\"noopener\">FCAC<\/a> also confirms this right at the federal level.  <\/p>\n<\/details>\n<details class=\"wp-block-details\" style=\"border:1px solid #e2e8f0;border-radius:12px;padding:20px 24px;margin-bottom:12px\">\n<summary style=\"font-weight:700;font-size:17px;color:#0d1f2d;cursor:pointer\">Can an insurance broker really find a better price?<\/summary>\n<p class=\"has-text-color\" style=\"margin-top:12px;font-size:15px;color:#475569;line-height:1.7\"><strong>Yes, in the vast majority of cases.<\/strong> An <a href=\"https:\/\/www.assur360.ca\/en\/blog\/home-insurance-in-quebec-2\/independent-insurance-broker\/\" style=\"color:#10c4c7\">independent broker<\/a> compares offers from dozens of insurers \u2014 Desjardins, iA Financial Group, Beneva, Canada Life, Manulife, Sun Life, and more \u2014 to find the best value for money. The bank only sells <strong>its own products<\/strong> and cannot offer this competition. The consultation is <strong>free and without obligation<\/strong>. <a href=\"https:\/\/www.assur360.ca\/en\/quick-quote-life-insurance\/\" style=\"color:#10c4c7\">Compare now<\/a>.  <\/p>\n<\/details>\n<details class=\"wp-block-details\" style=\"border:1px solid #e2e8f0;border-radius:12px;padding:20px 24px;margin-bottom:12px\">\n<summary style=\"font-weight:700;font-size:17px;color:#0d1f2d;cursor:pointer\">What type of life insurance should I choose to protect my mortgage?<\/summary>\n<p class=\"has-text-color\" style=\"margin-top:12px;font-size:15px;color:#475569;line-height:1.7\"><strong><a href=\"https:\/\/www.assur360.ca\/en\/blog\/comparator-price-in-3-minutes\/term-life-insurance-2\/\" style=\"color:#10c4c7\">Term life insurance<\/a><\/strong> (10, 20 or 30 years) is recommended by independent financial advisors. Choose a term that covers the period when your financial responsibilities are highest (young children, large mortgage). The amount would often <strong>have to exceed the mortgage balance<\/strong> to also cover the children&#8217;s living expenses, debts and education. A broker will help you determine the optimal amount for your situation.   <\/p>\n<\/details>\n<details class=\"wp-block-details\" style=\"border:1px solid #e2e8f0;border-radius:12px;padding:20px 24px;margin-bottom:12px\">\n<summary style=\"font-weight:700;font-size:17px;color:#0d1f2d;cursor:pointer\">What is the 25th month trap in mortgage disability insurance?<\/summary>\n<p class=\"has-text-color\" style=\"margin-top:12px;font-size:15px;color:#475569;line-height:1.7\">Bank mortgage disability insurance has a <strong>change in the definition at the 25th month<\/strong>. For the first 24 months, you are covered if you are unable to practise <strong>your profession<\/strong>. But starting at the 25th month, the definition switches to &#8221; <strong>any reasonable occupation<\/strong> &#8221; \u2014 the insurer can stop paying benefits if you&#8217;re deemed fit to do any job. <a href=\"https:\/\/www.assur360.ca\/en\/salary-insurance-3\/\" style=\"color:#10c4c7\">Individual disability insurance<\/a> generally maintains the definition of &#8220;own occupation&#8221; for the duration of the benefits.   <\/p>\n<\/details>\n<details class=\"wp-block-details\" style=\"border:1px solid #e2e8f0;border-radius:12px;padding:20px 24px;margin-bottom:12px\">\n<summary style=\"font-weight:700;font-size:17px;color:#0d1f2d;cursor:pointer\">Mortgage life insurance and CMHC loan insurance the same thing?<\/summary>\n<p style=\"margin-top:12px;font-size:15px;color:#475569;line-height:1.7\"><strong>No, they are two completely separate products.<\/strong> <strong>CMHC<\/strong> (Canada Mortgage and Housing Corporation) mortgage default insurance is mandatory when your down payment is less than 20% \u2014 it protects the <em>lender<\/em> from default. Mortgage life insurance is <strong>always optional<\/strong> and pays off the balance of the loan in the event of the borrower&#8217;s <em>death<\/em> . Don&#8217;t confuse the two: refusing mortgage life insurance does not affect your CMHC insurance.  <\/p>\n<\/details>\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<div class=\"wp-block-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:16px;padding-top:40px;padding-right:40px;padding-bottom:40px;padding-left:40px;background:linear-gradient(135deg, #0d1f2d 0%, #1a3a4a 100%)\">\n\n<h2 class=\"wp-block-heading has-text-align-center has-text-color\" style=\"color:#ffffff;font-size:28px;font-weight:700\"><span class=\"ez-toc-section\" id=\"Protect-your-family-not-your-bank\"><\/span>Protect your family, not your bank<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-text-align-center has-text-color\" style=\"color:#94a3b8;font-size:16px\">Life insurance is taken independently. A broker compares offers from dozens of insurers for you \u2014 free of charge and without obligation. Make the right choice for the ones you love.  <\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n\n<div class=\"wp-block-button\" style=\"font-size:18px;font-weight:700\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.assur360.ca\/en\/quick-quote-life-insurance\/\" style=\"border-radius:30px;color:#ffffff;background-color:#10c4c7;padding-top:16px;padding-right:48px;padding-bottom:16px;padding-left:48px\">Compare my life insurance options\u2192<\/a><\/div>\n\n<\/div>\n\n<\/div>\n\n<script type=\"application\/ld+json\">{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Est-ce que l'assurance-vie hypoth\u00e9caire est obligatoire au Qu\u00e9bec ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Non, l'assurance-vie hypoth\u00e9caire n'est jamais obligatoire. En vertu de la Loi sur la distribution de produits et services financiers, aucune institution financi\u00e8re ne peut conditionner l'approbation d'un pr\u00eat hypoth\u00e9caire \u00e0 la souscription de son assurance-vie. L'Autorit\u00e9 des march\u00e9s financiers (AMF) le confirme explicitement.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Quelle est la diff\u00e9rence entre l'assurance-vie hypoth\u00e9caire et l'assurance-vie temporaire ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"L'assurance-vie hypoth\u00e9caire offre une couverture d\u00e9croissante qui diminue avec le solde du pr\u00eat, et le b\u00e9n\u00e9ficiaire est la banque. L'assurance-vie temporaire offre une couverture fixe pendant toute la dur\u00e9e du terme (10, 20 ou 30 ans), le b\u00e9n\u00e9ficiaire est la personne de votre choix, elle est enti\u00e8rement portable si vous changez d'institution financi\u00e8re, et elle co\u00fbte g\u00e9n\u00e9ralement 15 % \u00e0 40 % moins cher.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Combien co\u00fbte l'assurance-vie hypoth\u00e9caire vs l'assurance-vie temporaire ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"L'assurance-vie temporaire co\u00fbte g\u00e9n\u00e9ralement 15 % \u00e0 40 % moins cher. Exemple : un non-fumeur de 35 ans peut payer environ 20 $ \u00e0 28 $\/mois pour 350 000 $ de couverture fixe en temporaire 20 ans, comparativement \u00e0 35 $ \u00e0 45 $\/mois pour une couverture d\u00e9croissante via la banque. Sur 20 ans, l'\u00e9conomie atteint 3 600 $ \u00e0 11 500 $ selon l'\u00e2ge.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Puis-je annuler mon assurance-vie hypoth\u00e9caire \u00e0 tout moment ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Oui, \u00e0 tout moment et sans p\u00e9nalit\u00e9. L'AMF accorde un d\u00e9lai de r\u00e9solution de 10 jours apr\u00e8s la souscription pour annuler sans frais. M\u00eame apr\u00e8s ce d\u00e9lai, l'annulation reste gratuite. Important : souscrivez d'abord votre nouvelle assurance-vie individuelle et attendez d'\u00eatre approuv\u00e9 avant d'annuler l'assurance hypoth\u00e9caire.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Qu'est-ce que la post-tarification (post-claim underwriting) ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"La post-tarification est un processus controvers\u00e9 utilis\u00e9 par les banques pour l'assurance-vie hypoth\u00e9caire. Vous remplissez un court questionnaire de sant\u00e9 \u00e0 la banque, mais la v\u00e9ritable \u00e9valuation m\u00e9dicale approfondie se fait au moment de la r\u00e9clamation \u2014 apr\u00e8s votre d\u00e9c\u00e8s. Si l'assureur d\u00e9couvre une omission ou une inexactitude, m\u00eame involontaire, il peut refuser de verser l'indemnit\u00e9.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Que se passe-t-il si je change de banque avec une assurance-vie hypoth\u00e9caire ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Votre assurance-vie hypoth\u00e9caire s'annule automatiquement si vous transf\u00e9rez votre pr\u00eat. Vous devrez souscrire une nouvelle assurance aupr\u00e8s de la nouvelle banque, \u00e0 votre \u00e2ge actuel et avec une nouvelle \u00e9valuation m\u00e9dicale. Si votre \u00e9tat de sant\u00e9 a chang\u00e9, vous pourriez \u00eatre refus\u00e9 ou payer beaucoup plus cher.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Qui est le b\u00e9n\u00e9ficiaire de l'assurance-vie hypoth\u00e9caire ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Le b\u00e9n\u00e9ficiaire est l'institution financi\u00e8re (banque ou caisse). En cas de d\u00e9c\u00e8s, l'indemnit\u00e9 sert exclusivement \u00e0 rembourser le solde du pr\u00eat. Votre famille ne re\u00e7oit rien directement. Avec une assurance-vie individuelle, vous choisissez votre b\u00e9n\u00e9ficiaire (conjoint, enfants, succession) et le montant est vers\u00e9 libre d'imp\u00f4t.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Ma banque peut-elle refuser mon pr\u00eat si je refuse son assurance-vie ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Absolument pas. En vertu de la Loi sur la distribution de produits et services financiers, la banque ne peut pas conditionner l'approbation de votre pr\u00eat hypoth\u00e9caire \u00e0 la souscription de son assurance-vie. Si un conseiller exerce une pression indue, vous pouvez d\u00e9poser une plainte aupr\u00e8s de l'AMF.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Un courtier d'assurance peut-il vraiment trouver un meilleur prix ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Oui, dans la grande majorit\u00e9 des cas. Un courtier ind\u00e9pendant compare les offres de dizaines d'assureurs \u2014 Desjardins, iA Groupe financier, Beneva, Canada Vie, Manuvie, Sun Life \u2014 pour d\u00e9nicher le meilleur rapport couverture-prix. La banque ne vend que ses propres produits. La consultation est gratuite et sans obligation.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Quel type d'assurance-vie choisir pour prot\u00e9ger mon hypoth\u00e8que ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"L'assurance-vie temporaire (terme 10, 20 ou 30 ans) est recommand\u00e9e par les conseillers financiers ind\u00e9pendants. Choisissez un terme qui couvre la p\u00e9riode o\u00f9 vos responsabilit\u00e9s financi\u00e8res sont les plus \u00e9lev\u00e9es. Le montant devrait souvent d\u00e9passer le solde hypoth\u00e9caire pour couvrir aussi les frais de subsistance, les dettes et les \u00e9tudes des enfants.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Qu'est-ce que le pi\u00e8ge du 25e mois en assurance invalidit\u00e9 hypoth\u00e9caire ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"L'assurance invalidit\u00e9 hypoth\u00e9caire des banques comporte un changement de d\u00e9finition au 25e mois. Pendant les 24 premiers mois, vous \u00eates couvert si vous ne pouvez exercer votre profession. Mais \u00e0 partir du 25e mois, l'assureur peut cesser les prestations si vous \u00eates jug\u00e9 apte \u00e0 occuper n'importe quel emploi.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"L'assurance-vie hypoth\u00e9caire et l'assurance pr\u00eat SCHL, c'est la m\u00eame chose ?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Non, ce sont deux produits compl\u00e8tement distincts. L'assurance pr\u00eat hypoth\u00e9caire de la SCHL est obligatoire lorsque votre mise de fonds est inf\u00e9rieure \u00e0 20 % \u2014 elle prot\u00e8ge le pr\u00eateur contre le d\u00e9faut de paiement. L'assurance-vie hypoth\u00e9caire est toujours facultative et rembourse le solde du pr\u00eat en cas de d\u00e9c\u00e8s de l'emprunteur.\"\n      }\n    }\n  ]\n}\n<\/script>\n","protected":false},"excerpt":{"rendered":"<p>Mortgage life insurance is a declining life insurance product sold by banks in Quebec. Coverage that decreases, beneficiary = the bank, post-pricing, no portability, premiums 15% to 40% more expensive. Discover the 7 reasons to refuse and why independent term life insurance is always better. Comparison table by age included.   <\/p>\n","protected":false},"author":49,"featured_media":39117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Mortgage life insurance: 7 reasons to refuse your bank's life insurance | Assur360","_seopress_titles_desc":"Why refuse bank mortgage life insurance? Decreasing coverage, beneficiary = bank, premiums 15-40% more expensive. Table + 12 FAQs.  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