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Home Mortgage Protection Life & Disability Insurance

MCAP Home Mortgage Protection Life and Disability Insurance can help you pay your biggest expense when you can’t.

Prepare for the unexpected

If something were to happen to you and you could no longer earn an income, could you cover your mortgage payments? If you were to pass away, could your partner cover the household expenses?

Mortgage Life and Disability Insurance offers the comfort of knowing that your family and your property are protected should the unexpected happen. With MCAP’s Home Mortgage Protection Life and Disability Insurance, we can help protect one of your most valuable assets — your home. This can help provide you with the coverage you need during what may be a life-altering health event.

Coverage for illness or injury

If you were to get sick or injured, your focus should be on your recovery — not whether you can make your mortgage payments. Disability Insurance helps by:

  • Covering up to $4,000 in monthly mortgage principal, interest, and property tax1 payments
  • Continuing to make these mortgage payments until you can return to work, for up to 24 months per disability

Life coverage

The loss of a loved one can have a major emotional and financial impact on your whole family. Life Insurance can help by:

  • Paying off or paying down the outstanding mortgage balance in the event of the death of an insured homeowner, up to $750,000
  • Reducing or eliminating the financial burden of mortgage payments for the family

Other coverage highlights

  • Up to three people can be insured under the same mortgage

  • Home Mortgage Protection Life and Disability Insurance benefits are payable to MCAP to cover your debt. These do not impact the benefits from Term Life policies or group disability plans with your employer, leaving the proceeds from other policies as income replacement

  • Coverage is optional and can be cancelled at any time

Protecting yourself and your family is easy

If you’re between the ages of 18 and 64, and a Canadian resident, you’re eligible to apply for coverage. Once approved, MCAP will collect premium payments along with your mortgage payments, so there’s no extra bill to worry about.

To discuss your coverage options with a licenced insurance representative, or to apply
Call: 1-800-265-2624

The Canada Life Assurance Company is the insurer of this product. Full details of coverage, including limitations and exclusions that apply, are set out in the certificate of insurance that is provided on enrollment. To contact the Insurer, call 1-833-489-4242 or visit

1Property tax payments included in the mortgage payment are covered under Mortgage Disability Insurance benefit.