How Much Will it Cost?

How Will My Life Insurance Premium be Calculated?

• Your life insurance premium is based on your age and the amount of your mortgage at the time of application.
• If, when coverage begins, the total of all mortgages to be insured under HomeProtector exceeds $500,000, premiums will only be calculated on the $500,000 maximum, and the benefit paid will be pro-rated.
• Your premium rate will not increase due to your age, provided your mortgage balance does not increase during the life of your existing mortgage.
• The cost of joint coverage is calculated by using the joint rate for the older person.

Life Insurance Premium Rate Chart

How Will My Disability Insurance Premium be Calculated?

• Your disability insurance premium is based on your age and the amount of your mortgage at the time of application.
• The cost of joint coverage is calculated by using the joint rate for the older person.
• Your disability premium will increase only if your mortgage payment increases.

Disability Insurance Premium Rate Chart