Life and Disability Insurance

Having the insurance you need, when you need it.

CENTUM Canada Life and Disability Insurance
CENTUM Canada Life and Disability Insurance

Why choose Manulife Mortgage Protection Plan (MPP)?

Mortgage Protection Plan has protected Canadian mortgage borrowers since 1995. It is the largest independent plan of its kind, insuring over 150,000 clients. It is insured by The Manufacturers Life Insurance Company (Manulife Financial).

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Key reasons why MPP is a Great Choice...

Your Application will be approved

MPP is the first mortgage protection product to offer some form of protection to everyone who submits an application, regardless of your health. As long as you are between the ages of 18 and 65, you will never be declined.

Approval is Immediate

Coverage will start the minute you complete an application. You just have to pay the first premium when it is due.

Your Good Health Still Matters

Saying “Yes” to everyone doesn’t mean that your health isn’t important. If you have some health problems, you may pay a little more, or your coverage may have some extra exclusions. For example, it’s possible that your insurance may only provide protection against accidental death and/or accidental disability*. If the insurer adjusts your premium or your coverage, you will be notified in writing.

Competitive Premium Rates

MPP rates compare favourably with both the major banks’ mortgage insurance plans AND with term insurance. Keep in mind that MPP premiums do not automatically increase with age like a lot of term products do.

Disability Coverage that's better than ever!

MPP disability protection is still one of the most affordable choices, but now the benefit amount floats to match your mortgage interest rate - no matter how high it goes. And, unlike some others, you won’t be charged more when interest rates change and your mortgage payment goes up.

In addition, these benefits do not have to be reported as income to either CPP or your private disability insurer and are not subject to income taxes.

It's especially great for self-employed people, since no proof-of-income needs to be provided with your application..

Flexible Premium Collection Options

You can choose to have your monthly premium collected from any bank account at any Canadian financial institution, or from any VISA or Mastercard account.

60-Day Money Back Guarantee

You can choose MPP today and change your mind at any time within the first 60 days. If you decide to cancel, the insurer will refund all the premiums you paid during that time. Feel free to shop around … but don’t leave your mortgage unprotected in the meantime. If you change your mind after the first 60 days, you can still cancel your coverage at any time and there are no penalties whatsoever.

Fully Portable Coverage with Prior Coverage Recognition

You can transfer your mortgage whenever, wherever you like, without any fear of losing your protection. Even if additional funds are advanced, only the “topped up” portion will be priced at your current age. The amount of life coverage you already have will remain untouched, and can’t be taken away no matter what your current health situation may be.

Unlimited Bridge Benefits that are unmatched

MPP will start taking care of the mortgage payments as soon as a completed life insurance claim form comes in, and will keep making the payments for as long as it takes to receive all the documentation and reach a final decision.

Underwritten by The Manufacturers Life Insurance Company (Manulife Financial)

Trusted name and and industry leader.

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