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.