Total Disability Insurance

If an insured person becomes disabled and qualifies for benefits, monthly payments will be made. 

To qualify for benefits, you must satisfy two main conditions.

You must be totally disabled, which means:
  If you are employed, being prevented from performing substantially all of the essential duties of your employment solely because of an injury or illness for which you are under the regular care of a physician.
  Otherwise, being completely unable, as a result of an injury or illness, to perform at least two of the five activities of daily living without the assistance of another person.
    Employed means you were actively at work at least 20 hours per week for at least 40 weeks during the 12-month period immediately before becoming disabled.   If you are seasonally-employed it means  you were actively at work at least 20 hours per week for 13 consecutive weeks during the 12-month period immediately preceding the onset of total disability. 
Activities of daily living means eating, getting out of bed, dressing, toileting and walking.
You must be totally disabled for at least 60 days (the Qualification Period).

The amount paid is based on your actual mortgage payment at the time of your claim.  If you have joint coverage, your benefit is 50% of that amount; 100% if you have single coverage.  The maximum amount paid is $10,000 per month for any one person.

Some additional conditions apply if you have a mortgage where the outstanding balance is not declining every month (such as an interest-only mortgage or a line of credit); or if you increase your mortgage balance or extend your mortgage amortization period without applying for an increase in coverage.

For example, if you have a line of credit, your monthly benefit will be based on the Initial Mortgage Payment shown on your Certificate of Insurance.

The insurer will continue to make payments to your mortgage lender for as long as you are Totally Disabled, up to the maximum amount of time stated on your certificate.

Please note that in the event of any discrepancy between the information on this website and the Certificate of Insurance you have been issued, your Certificate will govern. 

Do you need protection?
Anyone who has a mortgage needs to protect it somehow. Otherwise, you risk losing your home should there be a death or disability in the family.
Learn more.
  Mortgage brokers, 
are your clients protected?

Learn more about
Mortgage Protection Plan.