Mortgage Protection Plan
Your home may be your greatest asset, but at the end of the day, the most important thing in life is family. With the rise of illness, household debt at an all-time high, and Canadians carrying bigger mortgages, financial protection is more important today than ever. That’s why Manulife Mortgage Protection Plan® (MPP) was created. MPP […]
Your home may be your greatest asset, but at the end of the day, the most important thing in life is family. With the rise of illness, household debt at an all-time high, and Canadians carrying bigger mortgages, financial protection is more important today than ever. That’s why Manulife Mortgage Protection Plan® (MPP) was created.
MPP is here for you and your family if the unexpected happens. It can help ensure your mortgage payments are made and your loved ones are taken care of. That’s some certainty in a future that’s uncertain.
44%
of MPP claims are made within the first 2 years of a mortgage.
1 in 3
Canadians will be disabled for 90 days or more before age 65.
56%
of Canadians who took time off for a disability said they returned to work early due to financial reasons.
33%
of all workplace disability claims are related to mental health.
1 in 2
Canadians will develop cancer in their lifetime. Cancer can affect people of all ages.
10 months
is the average length of time disabled claimants are off work.
Ten ways presenting Manulife Mortgage Protection Plan insurance benefits you!
1. Coverage can start immediately
No waiting. Coverage can begin as soon as your application is successfully completed.
2. Coverage moves with you
Moving or changing banks? Your original coverage moves with them, so you don’t have to re-apply later.
3. Budget-friendly payment options
Mortgage Protection Plan® offers a variety of payment options, including monthly, semi-monthly and biweekly.
4. Top-up existing coverage
You may have disability or life insurance coverage through your employee benefits, but do you have enough to cover their mortgage? With Mortgage Protection Plan® you can easily add to your existing coverage.
5. You’re covered wherever you work
Mortgage Protection Plan® coverage isn’t dependent on your place of employment. Your coverage stays with you, wherever your career takes you. There’s also no financial review, so you can get coverage even if you’re not working. Approval is based on the mortgage, not your income.
6. 60-day money-back guarantee
You can review your coverage in detail for 60 days. If you change your mind within the first 60 days, you will get your money back.
7. Easy approval process
No tests or medical exams are needed to get Manulife Mortgage Protection Plan®. All you need to do is answer a few simple health questions.
8. Easy to increase
If your need to increase your Mortgage Protection Plan® coverage due to a refinance or purchase, we will combine the premium for the increase with your existing premium. That can save you money.
9. Premiums waived if you lose your job
New Waiver of Premium due to Job Loss benefit pays your premiums for up to 3 months if you lose your job, and you’ll never have to repay.
10. Coverage if you becomes terminally ill
New Terminal Illness benefit covers your mortgage payments if you’re diagnosed with a terminal illness.