best mortgage rates Mississauga

Secure Your Family’s Future with Life and Disability Insurance

Your home is your biggest investment don't leave it to chance. At Khan Mortgages, we provide Life and Disability Insurance solutions in Mississauga that ensure your mortgage is covered even if you face an unexpected illness, injury, or loss of life.

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best mortgage rates Mississauga

Total Peace of Mind with Comprehensive Mortgage Protection

Investing in Life and Disability Insurance is a critical step in a responsible financial plan for any homeowner in Mississauga. Unlike standard mortgage default insurance required by the Canada Mortgage and Housing Corporation (CMHC) for low down payments, mortgage protection insurance is designed to protect you and your family, not the lender. At Khan Mortgages, we offer tailored plans that include First Mortgage payoff in the event of death and monthly payment coverage during periods of total disability. This ensures that if you are unable to work due to an accident or illness, your family can remain in their home without the stress of monthly bills.

 

Whether you have a Second Mortgage or a Private Mortgage, our experts compare the most flexible and portable policies to find the best fit for your budget. Contact Khan Mortgages today to receive a personalized quote and see how affordable life and disability insurance can be for your Mississauga home.

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A Mississauga family feeling secure in their home thanks to comprehensive mortgage life and disability insurance coverage from Khan Mortgages.
Life and Disability Insurance

Key Reasons to Choose MPP...

MPP is the first mortgage protection product that provides some level of coverage to all applicants, regardless of health status. As long as you are between the ages of 18 and 65, you will never be declined.

Your coverage begins as soon as you complete your application. You simply need to pay the first premium when it’s due.

While MPP accepts all applicants, your health is still a consideration. If you have existing health issues, you might pay a slightly higher premium, or your coverage may include certain exclusions. For instance, your insurance could provide protection only for accidental death and/or accidental disability*. If there are any adjustments to your premium or coverage, you will be informed in writing.

MPP offers rates that are competitive with both major banks’ mortgage insurance plans and term insurance. Notably, MPP premiums do not automatically increase with age, unlike many term products.

MPP offers some of the most affordable disability protection available, and now the benefit amount adjusts to match your mortgage interest rate—regardless of how high it rises. Unlike some plans, you won’t face higher charges when interest rates increase and your mortgage payment goes up.

Additionally, these benefits do not need to be reported as income to either CPP or your private disability insurer and are exempt from income taxes. This feature is particularly advantageous for self-employed individuals, as no proof of income is required with your application.

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You have the option to have your monthly premium deducted from any bank account at a Canadian financial institution or from any VISA or Mastercard account.

You can select MPP today and change your mind within the first 60 days. If you choose to cancel during this period, the insurer will refund all premiums paid. Feel free to explore your options, but don’t leave your mortgage unprotected in the meantime. If you decide to cancel after the initial 60 days, you can still do so at any time without any penalties.

You can transfer your mortgage whenever and wherever you choose without worrying about losing your protection. If additional funds are added, only the new portion will be priced based on your current age. The amount of life coverage you already have will remain intact and cannot be taken away, regardless of your current health status.

MPP will begin covering your mortgage payments as soon as a completed life insurance claim form is submitted. Payments will continue for as long as necessary to process all documentation and reach a final decision.

A trusted name and an industry leader.

Private Mortgage

Looking for a loan or a mortgage when you have a bad credit score or a bankruptcy in your name can be highly frustrating. Helping you get the Private Mortgage you need.

Bad or Poor Credit

Do you have bad or poor credit and are trying to get a mortgage but it's proven to difficult? We might be able to help. We have options to help those with bad credit get the mortgage they need.

Home Equity Line of Credit (HELOC)

A HELOC can be a great way to access needed money for those important things that come up in life. Helping you get the Home Equity Line of Credit you need.

Self-Employed Mortgages

We work with lenders from all across Canada that offer excellent mortgage options for self-employed Canadians like yourself. Helping you get the Self-Employed Mortgage you need.

Life and Disability Insurance Mississauga

Why Choose Khan Mortgages?

    • Instant Portability: Unlike bank-led insurance, our policies often stay with you even if you switch lenders or move homes.

    • Customized Benefit Amounts: Choose coverage that pays off your entire balance or just covers monthly payments during disability.

    • Fast & Simple Approval: Many of our Life and Disability Insurance plans require no medical exams and offer instant coverage.

    • Mississauga Expertise: We understand the local market and provide integrated solutions for First, Second, and Private Mortgages.
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How does it work?
How do I get started?

At Khan Mortgage, we’ve simplified the mortgage process to make it as easy and seamless as possible. Our network of experienced mortgage professionals will guide you through every step of the way.

1. Find an Agent or Broker

Find the expert you want to collaborate with.

2. Apply Safely Online

Approximately 5 minutes is all you need.

3. Get Your Funding Fast

When all goes according to plan, funding is swift!

(416) 807-5050
best mortgage rates in Mississauga

frequently asked questions

Find answers to your most pressing mortgage questions in our Frequently Asked Questions section.

Mortgage life insurance pays off your remaining mortgage balance in full if you pass away. Mortgage disability insurance covers your monthly mortgage payments (including principal and interest) for a set period if an injury or illness prevents you from working. Khan Mortgages recommends a combination of both for total protection.

No, this type of insurance is optional. However, while it is not legally required like CMHC default insurance (for down payments under 20%), it is highly recommended to prevent your family from losing their home during a financial crisis.

Workplace benefits are a great start, but they often only cover a portion of your salary and disappear if you change jobs. Life and Disability Insurance through Khan Mortgages is tied to your home debt, ensuring your most significant expense is always covered regardless of your employment status.

Yes. We specialize in providing protection for all types of debt, including Second Mortgages and Private Mortgage solutions. We ensure that no matter how your financing is structured, your equity and your family remain protected. Contact Khan Mortgages today to learn more.