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From just $24.98* a month
You can get protection for your mortgage. It protects more than just your investment. It protects you.
Mortgage insurance for you – not the bank.
As a homeowner, you want to ensure your investment is protected. With CAA’s Better Mortgage Protection, you’re not just protecting your home, but you’re investing in your loved ones, as well.
For as little as $24.98 a month*, you can invest in life insurance for your mortgage. For most people, that’s a 45% savings compared to lender mortgage insurance.
Here’s how it works.
Better Mortgage Protection is portable.
Whether you pay off your existing mortgage or move to another home, your coverage goes with you. Unlike traditional policies purchased through your lender, a Better Mortgage Protection policy is portable, even if you switch lenders.
Your coverage and premiums remain the same, even as you pay down your mortgage.
With traditional mortgage insurance, the amount covered declines as you pay off your mortgage. And your premiums may increase over time, as you age. Better Mortgage Protection always covers you for the initial amount – so your family will receive the full value of the policy, no matter how much is left on the mortgage.
The bank is not the beneficiary.
Better Mortgage Protection is life insurance, so you choose your beneficiaries. They receive the full amount to pay off the balance, cover debts or simply for replacement income at a time they need it most. Traditional mortgage insurance pays the bank as the beneficiary.
You decide how long you are covered.
With Better Mortgage Protection, you have flexibility. Once the term expires, it can either renew automatically or you can choose to convert to permanent life insurance, with no additional medical tests¹. What’s more, you have the flexibility to add term life, disability and critical illness coverage to take care of the unexpected in life.
Guaranteed coverage from the start.
Unlike traditional mortgage insurance which is underwritten when a claim is made, Better Mortgage Protection is approved and underwritten upfront, when you sign up. That means that when a claim is made, you are assured that your family are guaranteed the benefit.
It can be adapted to your changing circumstances.
Better Mortgage Protection has a built-in unique divorce or separation option. If your relationship situation changes, both parties can change to individual policies and are each entitled to 100% of the sum insured.
Get the same tax benefits as life insurance.
As a life insurance policy for your mortgage, it provides a tax shelter benefit. The payout can be used to clear a mortgage, funeral expenses and other debt.
Free Will Kit and Maple online medical services.
Every CAA Protect Better Mortgage Protection policy comes with a free will kit² and access to Maple³, Canada’s premier online medical services, including access to GPs, specialist advice and self-serve information.
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CAA Protect’s flexible Health and Dental Plans
Whether you’re single or have a family, retired or a small business owner, CAA Protect’s Health and Dental Plans offer excellent coverage:
Basic Extended Health Care (EHC) to help cover your basic healthcare-related expenses. EHC benefits provide you with added coverage. Vision Care is included
Adding optional drug coverage can help cover many out-of-pocket expenses for prescription drugs and dispensing fees
Adding on optional dental coverage can lower the number of dental expenses you’ll have to pay out-of-pocket
Special nursing services, ambulance services, wheelchairs, and other durable equipment
…a few extras with every CAA Protect policy
Free Will Kit: Every CAA Protect Health and Dental Insurance policy comes with a free will kit to help you plan for the future.¹
Free Maple Health: Canada’s premier online medical services, including access to GPs, specialist advice and self-serve information.²
FAQs about Health and Dental Insurance
Why should I get private health and dental insurance in Canada?
Although universal health care ensures Canadians have access to free public healthcare, some costs are not covered. Pharmaceuticals and dental care typically mean out-of-pocket expenses.
What should health and dental care coverage include?
It really depends on the type of health and dental insurance you choose. Your policy may include coverage for things like:
- Basic Extended Health Care (EHC) to help cover your basic healthcare-related expenses. EHC benefits provide you with added coverage. Vision Care is included.
- Adding optional drug coverage can help cover many out-of-pocket expenses for prescription drugs and dispensing fees
- Adding on optional dental coverage can lower the number of dental expenses you’ll have to pay out-of-pocket
- Special nursing services, ambulance services, wheelchairs, and other durable equipment
- Supplement your income if you suffer a major illness or severe injury
Who should consider getting health and dental coverage?
Anyone who wants to enjoy life’s perfect moments in good health. Health and dental care is ideal for everyone, whether you are single or married, have a young family or are empty nesters. About to retire and lose your company coverage? CAA Protect can offer policies for retirees and small business owners without corporate health coverage, too.
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Life Insurance is all about peace of mind because it ensures that your beneficiaries will be able to deal with the financial impact of your passing. Life insurance payments can be made monthly, quarterly or even annually. A lump sum life insurance payout means you can manage expenses such as:
- replacement income for your family
- providing for your children or dependents
- paying for funeral expenses
- paying off your mortgage and other debts
- making a gift to charity
- leaving money in trust or to your estate
You can find more about CAA Protect Life Insurance here.
CAA Protect. Trusted life insurance from a brand you trust.
Every day, you protect the people who matter most in your life. With CAA Protect, you can do even more. CAA Protect life insurance also lets you think ahead about protecting their future, too. CAA Protect works with more than 20 respected partners to bring you the best coverage for your budget, no matter what that may be. Starting at $10.26* a month, you’re protecting the people who matter most. It also means that your plan for the future is rock solid. Book an appointment to learn how to protect what matters.
Insure what matters – and get the best value life insurance
Whatever your family looks like, life’s ups and downs can be expensive. But life insurance doesn’t have to be. With CAA Protect, our experienced and knowledgeable insurance agents will find you the best coverage and policy to fit your budget and your lifestyle. Book an appointment now with one of our consultants to discover how you can build a plan for the future, while living fully today.
Life isn’t one-size-fits-all. Neither is CAA Protect life insurance.
The nicest thing about CAA Protect is the options. These days, life insurance policies serve a number of end goals for Canadians at all stages of life. Whether you are just starting out as a young adult or looking towards retirement, CAA Protect is an important building block for your future plans. And here’s a sweet bonus for CAA Members. Every CAA Protect Life Insurance policy comes with a free Will Kit and free access to Maple, Canada’s leading virtual health care platform. Have questions? We’re ready to help. Book now to speak to a licensed insurance advisor – and let’s start planning a future you love.
FAQs about life insurance
- What is life insurance? It’s all about peace of mind because it ensures that your beneficiaries will be able to deal with the financial impact of your passing. Life insurance payments can be made monthly, quarterly or even annually. A lump sum life insurance payout means you can manage expenses such as:
- replacement income for your family
- providing for your children or dependents
- paying for funeral expenses
- paying off your debts
- making a gift to charity
- leaving money in trust or to your estate
- What is term life insurance? Term life insurance offers coverage for a certain amount of time – between 10 and 30 years – depending on your needs and budget. During this time, your monthly or annual premiums remain the same, making it easy to anticipate the costs. Term life insurance can be used for:
- Covering larger expenses, such as replacement income
- University tuition
- Mortgage payouts in the event of your death
- What is permanent life insurance? Permanent life insurance gives you coverage for the entire length of your life, as long as premiums are paid on time. It is designed to build cash over time that you can borrow against, laying the foundation for long-term financial security. Permanent life insurance can be used for:
- Estate planning
- Retirement income
- End-of-life expenses
- Lifelong need
- What is disability insurance? In the event of an unexpected illness or debilitating accident that leaves you unable to work or earn an income to support yourself, disability insurance can help protect you and your family financially. In general, disability insurance replaces between 60% and 85% of your regular income, up to a maximum amount. Disability insurance is ideal for those who are:
- Self-employed
- Sole income earners who need additional financial security to cover major expenses after loss of income
- What is critical illness insurance? Sometimes, life delivers a curve ball in the form of life-threatening illness. That’s where critical illness insurance can help. If you’re diagnosed with a life-threatening illness, you will get a one-time lump sum that can be used to cover expenses such as daycare, health care support or renovations should you need to make your home more accessible. The amount received depends on the level of coverage and is usually paid as a benefit after diagnosis of a condition covered by your policy. Critical illnesses may include:
- Cancer
- Alzheimer’s disease
- A heart attack
- A stroke
- What is health and dental insurance? Although universal health care ensures Canadians have access to free public healthcare, some costs are not covered. Depending on the type of health and dental insurance you choose, your policy may include coverage for things like:
- Special nursing services, ambulance services, wheelchairs, and other durable equipment
- Supplement your income if you suffer a major illness or severe injury
- Basic Extended Health Care (EHC) to help cover your basic healthcare-related expenses. EHC benefits provide you with added coverage. Vision Care is included
- Adding optional drug coverage can help cover many out-of-pocket expenses for prescription drugs and dispensing fees
- Adding on optional dental coverage can lower the number of dental expenses you’ll have to pay out-of-pocket
Book an appointment
Who is CAA Protect?
We’re glad you asked.
CAA Protect is a full service life insurance company designed to protect what matters most – you, your family and your lifestyle. CAA Protect offers exceptional customer service, free personalized assessments and access to value and pricing in insurance products.
CAA Protect is owned and operated by CAA North & East Ontario.