Discover the different types of mortgage life insurance!

There are two types of mortgage life insurance.

Total and permanent disability: This is the most comprehensive plan and, therefore, the one we recommend most highly. This protection plan guarantees payment of the insured amount in cases where, due to illness or accident, the insured person becomes unable to perform their professional activities in accordance with their knowledge and skills. The degree of disability must exceed 60% or 65% (depending on the insurer), generally following the criteria set forth in the National Disability Table.

Total and permanent disability: This is the basic coverage under a life insurance policy, in addition to “death” coverage. You will only be eligible for this coverage if, as a result of an accident or illness, you become permanently unable to perform any paid work, regardless of your abilities. You must also require the assistance of another person to perform basic daily activities, such as personal hygiene, eating, dressing, or moving around.

We recommend combining the two components. Why? For example, if you have a disability rating of more than 80% that prevents you from performing paid work, but you do not need assistance from others to carry out your basic daily activities, you will only receive insurance benefits if you have enrolled in both programs.

At EXS, we guarantee a custom proposal and we'll present the best option for your needs.