Mortgage Insurance
A Homefree policy will insure your mortgage up to a maximum of $500,000. The price of that protection is less than you think. Use the tables below to estimate your Homefree premiums.
For every $1,000 of Homefree coverage, you'll pay a minimal monthly amount.1
For example, if you are a 33-year-old non-smoker who has a $100,000 mortgage, your monthly payment would be $7.00 (using the individual protection chart). To calculate joint coverage, use the age and smoking status of the older applicant. For example, if you are a 34-year-old smoker who jointly has a $100,000 mortgage with a 38-year-old non-smoker, your monthly payment will be $15.00 (using the joint protection chart).
Investors Group offers a wide variety of insurance options. Your Consultant can review these various options with you at your convenience.
| Individual Protection | ||
|---|---|---|
| Age | Smoker | Non-Smoker |
| under 30 | $.11 | $.05 |
| 30-34 | .14 | .07 |
| 35-39 | .24 | .11 |
| 40-44 | .38 | .18 |
| 45-49 | .60 | .29 |
| 50-54 | .88 | .43 |
| 55-59 | 1.12 | .54 |
| 60-64 | 1.34 | .64 |
| Joint Protection | ||
|---|---|---|
| Age | Smoker | Non-Smoker |
| under 30 | $.15 | $.07 |
| 30-34 | .20 | .10 |
| 35-39 | .34 | .15 |
| 40-44 | .53 | .25 |
| 45-49 | .84 | .41 |
| 50-54 | 1.23 | .60 |
| 55-59 | 1.57 | .76 |
| 60-64 | 1.88 | .88 |
1 Minimum monthly premium is $5.00 plus provincial sales tax where applicable. Rates reflect prices as of this posting, and are subject to change without notice.
To learn more about mortgage insurance, please contact an Investors Group Consultant, or visit an Investors Group office near you.
