- Payment protection ensures your loan, LOC or mortgage doesn't become a burden on your family if something was to happen to you
- Insurance company pays the outstanding insured balance of your loan, mortgage or LOC
- Maximum value, term and age limits apply (see below for FAQ)
- Contact your Stride lending professional for more details
Don't leave it to chance
Take care of the unexpected with mortgage and loan insurance from Stride.
Life insurance
Disability insurance
- If you suffer a disability that prevents you from working, insurance protection takes care of your loan or mortgage payment so your income can look after day to day expenses
- Insurance company pays your insured monthly payment of your loan, LOC or mortgage
- Maximum benefit limits apply (see below for FAQ)
- Contact your Stride lending professional for more details
Critical illness insurance
- Critical illness diagnoses are on the rise; make sure your loved ones aren't left paying for a mortgage or loan
- Insurance company pays the insurable balance at date of diagnosis of a critical illness, plus accrued interest for cancer, stroke or heart attack
- Maximum coverage limitations apply (see below for FAQ)
- Contact your Stride lending professional for more details
Loss of employment insurance
- If you involuntarily lose your job, this insurance will make your mortgage payments while you look for a new opportunity
- Available for mortgage payments only
- Insurance company pays your insured monthly mortgage payment for up to nine months
- Up to a maximum of $3,000 per month for nine months
- Age restrictions apply (see below FAQ)
- Contact Stride for details
Take the stress out of retirement planning
Whether retirement is far off or coming up fast, our financial planning experts can help you create a personalized plan that secures your future without you missing out on life right now.
Dreaming of a new kitchen?
Stride offers loans and lines of credit to help you change your kitchen into the dream dining space you've always wanted.
Why do I need protection?
What does mortgage and loan protection cover?
Mortgage and loan protection (also known as payment protection) covers your monthly loan, mortgage and line of credit payment in the event you can't go to work because of a disability. The life and critical illness insurance portions of mortgage and loan protection will pay out the insurable balance of a loan or mortgage if you die or are diagnosed with a critical illness.
Mortgage protection has the additional benefit of loss of employment coverage, should you involuntarily lose your job.
Make sure your loan or mortgage doesn't become a major burden for your loved ones. Speak with a Stride lending expert today.
How much coverage is provided?
Coverages depend on which product is insured. See the chart below:
| mortgage | loan | line of credit | |
|---|---|---|---|
| life | Up to $1,000,000 | Up to $90,000, max term of 180 months and age 75 | Outstanding balance up to $1,000,000 and age 75; application after age 65: max $100,000 coverage |
| Total disability | Monthly payments up to $3,000 for maximum 24 months | Monthly payments up to $1,500 and age 75 | 3% of outstanding balance up to $3,000 for 60 months, to age 75 |
| Loss of employment | Monthly payment up to $3,000 for maximum 9 months | Not available | Not available |
| Critical illness | Up to $1,000,000 | Up to $90,000, max term of 180 months and age 75 | Outstanding balance up to $1,000,000 and age 75; can apply for coverage to age 59 |
Speak to a lending professional about these coverages and more.
Are there any other considerations?
Mortgage and loan protection is an important part of a financial plan. Feeling secure about the future of your family is important. That's why the coverages listed above are customizable to suit your needs and budget. Because this coverage is considered payment protection, you can build on existing insurance provided by employers or private policies.
The most important thing is to speak with a Stride expert regarding your specific situation. A tailor-made solution is always the best option. Book a chat with us today!
Need help or advice?
Don't hesitate to get in touch. We'll respond to your email within one business day.
Select Image
