Mortgage Insurance

Life is unpredictable, and an illness or disability can quickly impact your ability to work and meet financial obligations, including mortgage payments. Mortgage disability insurance is designed to provide financial relief by covering your mortgage payments if you become disabled and unable to work.

What Is Mortgage Disability Insurance?

Mortgage disability insurance helps homeowners in Ontario manage their mortgage payments when a disability prevents them from earning an income. It ensures that, despite health challenges, you can keep your home and avoid financial strain.

How Does It Work?

If you become disabled, your insurer will cover your mortgage payments (up to a certain limit) for a specified period. The coverage typically begins after a short waiting period and continues as long as you meet the policy’s disability criteria.

Do You Need Mortgage Disability Insurance?

If your mortgage is your biggest financial obligation, this type of insurance can provide essential protection. While some employers offer long-term disability benefits, they may not be enough to cover all your expenses, including your mortgage.

Key Considerations

• Eligibility & Coverage Limits: Policies vary, so review the terms carefully.

• Pre-Existing Conditions: Some policies may exclude coverage for prior medical conditions.

• Waiting Period: Understand how long you must wait before benefits begin.

• Alternative Options: Consider whether traditional disability insurance or critical illness insurance might offer better protection.

How K. Miller Law Can Help

If you’ve been denied mortgage disability insurance benefits or are facing challenges with your claim, K. Miller Law can help. We specialize in disability claims and will fight to ensure you receive the coverage you’re entitled to.

Don’t risk losing your home due to an unfair denial—contact us today for a consultation and let us help you secure the benefits you deserve.