Protection
A mortgage is a long obligation with a fixed schedule.
Housing costs rarely pause. Mortgage protection considerations focus on how a specific, dated obligation would be met if household income changed.
What it is
Understanding Mortgage Protection.
Mortgage protection describes approaches used to address the outstanding balance or ongoing payments on a home loan.
It may be arranged through a dedicated structure or addressed within broader life and income planning.
Who it may be relevant for
- Recent homebuyers with a long remaining term
- Households where one income covers the mortgage payment
- Homeowners who have refinanced or drawn equity
- Families who intend for dependants to remain in the home
Considerations
Common financial considerations.
These are the inputs most often reviewed during an analysis. None of them are recommendations on their own.
Remaining balance and term
The obligation declines over time, which may affect the structure used.
Joint borrowers
Both borrowers' incomes may be relevant to the obligation.
Housing intentions
Whether the home is intended to be retained or sold affects the approach.
Overlap with life coverage
Existing coverage may already contemplate part of this obligation.
Questions to consider
Worth thinking through first.
- 01What is the remaining balance and term of my mortgage?
- 02Which income covers the payment each month?
- 03Would my household want to remain in the home?
- 04Does my existing coverage already address this?
The process
How the analysis works.
- 01
Start With Your Situation
Tell us what you're trying to protect.
- 02
Complete Your Financial Analysis
Provide information about your financial situation, goals, obligations, and priorities.
- 03
Review Your Options
We evaluate relevant strategies based on the information provided.
- 04
Build Your Protection Strategy
Determine which solutions are appropriate for your circumstances.
- 05
Implement & Review
Put the selected strategy in place and periodically review it as circumstances change.
FAQ
Frequently asked questions.
The information on this page is general in nature and is not individualized financial, legal, or tax advice.
Related
Other strategies to consider.
Life Insurance
Financial protection designed to help provide liquidity and support for the people who depend on you.
Income Protection
Strategies designed around the income that supports your household and financial commitments.
Final Expense
Planning considerations for end-of-life expenses and the financial impact on loved ones.
Financial analysis
Your financial protection should start with your situation — not a product.
Before discussing solutions, we start by understanding your financial picture, priorities, obligations, and goals.