Mortgage insurance for you – not the bank
Invest in life insurance for your mortgage with CAA Protect’s Better Mortgage Protection. It’s protection for your home and your loved ones. Plus, you can save up to 45% compared to lender mortgage insurance.
Portability
Consistency
Simplicity
Flexibility
Reliability
The bank is not the beneficiary
It has the same tax benefits as life insurance
As a life insurance policy for your mortgage, Better Mortgage Protection provides a tax shelter benefit that can be used to clear a mortgage, funeral expenses and other debt.
- Free Will Kit3: Every CAA Protect Better Mortgage Protection policy comes with a free will kit to help you plan for the future.
- Free Maple Health4: Canada’s premier online medical services, including access to GPs, specialist advice and self-serve information.
Frequently asked questions
Better Mortgage Protection is about you, not the bank. Designed to cover your mortgage, it's life insurance that lets you choose your beneficiaries, and provide them with the full amount of coverage.
Don’t worry about moving or switching lenders! Better Mortgage Protection follows you, even if you move homes or change lenders. With traditional mortgage insurance, your coverage will end with the mortgage. As you pay off your mortgage, traditional mortgage insurance coverage will also shrink, and only cover the remaining amount of your mortgage. Better Mortgage Protection coverage doesn’t shrink because the coverage is not tied to your mortgage.
Traditional mortgage insurance premiums may increase as you age; Better Mortgage Protection premiums will always remain the same.
When you make an application with Better Mortgage Protection, your policy is underwritten – and when you make a claim, you’re guaranteed the benefit. There’s no uncertainty, like with traditional mortgage insurance.
Need help submitting a claim? You can reach out to your insurance carrier, your advisor, call our helpline at 1-800-709-5809 or email us at info@caaprotect.ca.
Save 20% on new Memberships. Join today!
Sign up to take advantage of great deals and savings. CAA Memberships start at just $301 a year, plus tax. Use promo code SNOW20
*Based on a plan for a 25-year term with $350,000 in coverage for a 32-year-old female, non-smoker with regular health. All insurance quotes and prices are subject to medical underwriting.
1 Visit caaneo.ca/termsandconditions for offer details and full Membership Terms and Conditions.
2 Certain exclusions and terms and conditions apply. Have a question? To speak to a professional who can guide you to the right coverage from the right insurer at the right price call us at: 1-800-709-5809 or email us at info@caaprotect.ca
3 Eligible CAA Protect Policyholders who are also CAA Members will receive a basic Will Kit free of charge
4 Eligible CAA Protect Policyholders who are also CAA Members get access to two covered visits with a general practitioner, care concierge services and 20% off oncology navigation.
