What is Mortgage Protection Insurance?
Mortgage Protection Insurance (LP250) extends Loan Protection Insurance by providing additional coverage for eligible mortgage loans, ensuring the outstanding mortgage balance is repaid in the event of the member's death during the mortgage term.
Coverage is designed for members with eligible mortgage loans that exceed standard Loan Protection Insurance coverage limits.
Who is Eligible?
Credit Union members with loans exceeding the maximum coverage limit under the standard Loan Protection Insurance package may qualify for this extended coverage.
Coverage Structure
Your Credit Union sets the maximum coverage limit based on its own risk tolerance and the specifics of your mortgage.
The policy duration mirrors the length of your mortgage — coverage remains in place for the full lifespan of the loan.
Loans are covered up to the limit agreed upon between you and your Credit Union, extending beyond the standard LPI threshold.
Why It Matters
Protect your loved ones from financial strain by ensuring your mortgage is paid off in the event of your passing. Your family stays in their home — without inheriting the mortgage debt.
Next Steps
Speak with your Credit Union today to learn more about Mortgage Protection Insurance. For additional information about this insurance solution, contact CICL using the Contact Us page.
Contact UsQuick Facts
Related Products
Speak to Your Credit Union
Mortgage Protection Insurance is administered through your Credit Union. Contact them directly or reach CICL for more information.
Get in Touch