The premium charged for your mortgage life insurance policy will depend on several factors, including the amount of insurance, your age, and the duration of your coverage.
You may choose a duration or term of coverage lasting or a period of 10, 15, 20, 25 or 30 years - which should match the duration of your mortgage loan.
In addition, several personal risk factors impact the rate charged per $1,000 of mortgage life insurance, including your gender, health, lifestyle, occupation, hobbies, driving record, height-to-weight ratio, tobacco use, etc.
The younger and healthier you are when you buy your policy, the lower your cost of mortgage life insurance.
Find out how much mortgage life insurance costs.