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I am over 70 can I get mortgage life/disability insurance?

 
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Vote:
Asked by

Charleen


Is it expensive if I never had a life insurance before?
0     In Mortgage Cont.21

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Level 5 - Scholar
mortgagepro
1 Friend, 0 Followers
You might for a very expensive price unless you are in excellent health but your insurance will still have a high premium.

This answer closely relates to:
  • Mortgage insurance for people 65 years and olders
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    • Are premium payments for health insurance deductible ontario?
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Level 5 - Scholar
ANiyazi
1 Friend, 2 Followers

"Each mortgage insurance company has different guidelines on the maximum age coverage for a mortgage..."



Hello Charleen, each mortgage insurance company has different guidelines on the maximum age coverage for a mortgage, RBC for example will cover up to 100 years of age. The question is what is the maximum approve-able age that coverage will begin with the insurance companies and even more importantly the COST. If you are looking for mortgage insurance your monthly payment after the age of 60 will most likely be the same or more than your mortgage payment. Also please remember that most Bank insurance is post claim adjudicated. This means that even though they approve you with a minimum amount of questions and start taking your money they will only check if you are eligible to be paid after you or your estate makes the a claim on the insurance. My advice is to make sure you go with an insurance company that does a medical check, and looks into your medical history up front. This way there is less chance that they will come back to you and say that you do not actually qualify for insurance coverage after they take all your payments and its too late to seek proper insurance coverage. I hope this helps, if you or any reader would like to talk more about insurance or any other matter please do not hesitate to contact me: Abraham Niyazi - Mortgage Agent - Lic#M08010640 - Centum One FInancial Corp - Lic 10758. Cell: 416-993-4082 Toll Free: 1-866-728-3708 x 115 http://www.centum.ca/abraham_niyazi/ I deal with Banks/Lenders across Canada and have been in the industry for over 11 years.

This answer closely relates to:
  • Best mortgage insurance coverage for beyond 70 years of age
    • Does my rbc mortgage insurance have loss of job coverage?
    • If i missed an insurance payment will coverage stop?
  • Maximum age to receive mortgage insurance
    • If i miss my car insurance payment do i instantly lose coverage?
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  • Oldest age qualify for mortgage insurance
    • I have car insurance with aviva and have missed two payments do i have coverage still?
    • Can people over 70 yrs get insurance coverage on a bank loan in canada?

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Can you help us by answering one of these related questions?
  1. Why the mortgage life insurance premiums could not be deducted in income tax credit?
  2. Can you claim mortgage life insurance premiums on rental property in canada?
  3. I don t have a social insurance number can i buy life insurance in canada?
  4. When collecting cpp disability can you collect great west life disability?
  5. Can a mortgage company cancel a disability mortgage insurance and still charge same amount mortgage payment?
  6. Can i buy life insurance if i am over 65?
  7. Can i get life insurance over 70?
  8. Is it possible to get life insurance after the age of 67 in uk?
  9. Can you get life insurance at age 74?
  10. Can a canadian buy life insurance usa?

We need your help! Please help us improve our content by removing questions that are essentially the same and merging them into this question. Please tell us which questions below are the same as this one:

Q: I am over 70 can i get mortgage life/disability insurance?
  • 79% - What happens to great west life insurance if you have been approved for cpp disability insurance?
  • 76% - If a parent dies has a great outstanding debt does life insurance money goes to creditors even though they leave a will and the life insurance bene?
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  • 68% - Life insurance question - can a canadian citizen - who is not a canadian resident - buy life insurance in canada?
  • 65% - Why can a canadian life insurance company only sell life insurance to canadian residents?

The following questions have been merged into this one. If you feel any of these questions have been included in error help us improve our content by splitting these questions into seperate discussions. Please unmerge any questions that are not the same as this one:

Q: I am over 70 can i get mortgage life/disability insurance?
  • What age does bank mortgage insurance stop?
    - Mortgage insurance age limit
  • Does a 68 yr old qualify for mortgage insurance?
    - Mortgage insurance for over 70
  • Can a 74 year old get a mortgage?
    - Limitation of mortgage over 74
  • What is the age limit to apply for a mortgage in canada?
    - In canada is there an upper age limit for mortgage
  • How to get mortgage insurance over 65?
    - Rates for over 60 mortgage insurance
  • Can we buy term insurance after age 65?
    - Mortage insurance available over 65 years of age
  • Can we get term insurance after 65?
    - Over 65 looking for mortage insurance
  • Can i get a mortgage at the age of 67?
    - Mortgage age limits canada
  • Can a 75 year old get life insurance with mortgage loan?
    - Mortgage life insurance for 70 year olds
  • What age does mortgage life insurance stop?
    - Mortgage insurance stops at age 71
  • Can i get a mortgage at age 70?
    - Mortgage for over 70 yrs old in canada
  • Can an over 65 get a mortgage?
    - Seniors canada mortgage does age matter
  • Can you get morgage insurance at age 77 years old?
    - Mortgage insurance for over 70 years of age
  • What is the maximum mortgage term you can get in canada if you 65 years old?
    - Over 65 mortgage insurance canada senior
  • Does insurance mortgage get cancelled at owners age 70?
    - Mortgage life insurance age 70 canada
  • Can a 77 year old get a bank loan or mortgage?
    - Mortgages for 77 year olds
  • Can someone over seventy years old buy home insurance?
    - Life insurance for people over 60 years old canada
  • Can you get a house mortgage at age 65?
    - Mortgage insurance age 65
  • Can a 68 yr old person collect disability?
    - Age limits on mortgages for over 68
  • How to get morgage insurance after age 70?
    - Mortgage insurance expires at age 70 ottawa
  • I am 74 can i get a mortgage?
    - Remoortgage required i am 74 yars of age
  • Can a person at age 75 get a home loan?
    - Mortgage insurance does age matter
  • Can my 74 year old father get a mortgage from the bank?
    - Term life insurance for 74 year old ontario
  • Can you get life insurance for over 70 in australia?
    - Canadian life insurance over 70 years old
  • Can a 70 year old get a mortgage in canada?
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    - Mortgage protection insurance for over 60 years old
  • Can you get life insurance mortgage after the age of 70 years?
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  • I am over 79 years looking mortgage?
    - Mortgage at the age of 72 years old
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    - Obtaining a mortgage at 72 years old
  • Can you get a mortgage at age 77?
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  • Where can you get mortgage insurance for over 65 years old?
    - No insurance for mortgage if your over 65 in ontario
  • Can a 74 year old get a mortgage in canada?
    - Cost of life insurance policy for 65 year old husband ontario canada
  • Are people over 65 able to get mortgage insurance?
    - Scotiabank mortgage insurance eligibility questions
  • Is it possible to get life insurance after the age of 67 in uk?
    - Australian life insurance for 67 year old
  • Can mortgage insurance be purchased on a older person?
    - Age 70 mortgage insurance over
 

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