Mortgage insurance.
Mortgage payment protection insurance is like a safety net for homeowners, giving you extra protection for unforeseen circumstances. There are different types of mortgage payment protection insurance available, each serving a unique purpose, like covering your loan payments if an unforeseen event like an illness or job loss prevents you from being able to make your payments. All are optional, however, each can offer valuable benefits. Explore the different options we provide below.
Types of mortgage insurance offered at Conexus via CUMIS.
Through CUMIS®, a trusted provider of insurance solutions for credit unions, Conexus offers mortgage insurance options designed to help protect your payments, your home and your loved ones.
Some terms and conditions apply for all insurance. To learn more and see what options may be available to you, talk to your Conexus Mobile Mortgage Specialist or Financial advisor.
Mortgage life insurance
Helps protect your home by paying off your mortgage balance if you pass away.
What is it?
This type of insurance would help pay off your home loan if you’re not around anymore, making sure your family can keep the house.
Why would you get it?
Gives you and your family peace of mind knowing that if something were to happen to you, the mortgage would be paid off.
Critical illness insurance
Helps pay off your mortgage if you’re diagnosed with a covered critical illness.
What is it?
If you get diagnosed with one of the critical illnesses that CUMIS recognizes and have full coverage, the outstanding balance of your mortgage will be paid in full.
Why would you get it?
Having critical illness coverage allows you to focus on recovering from a serious illness without having to stress about how you will make your mortgage payments.
Disability insurance
Helps cover your mortgage payments if an illness or injury prevents you from working.
What is it?
This insurance acts as a shield, helping to cover your mortgage payments if illness or disability prevents you from working.
Why would you get it?
It acts as a safety net, ensuring your mortgage remains manageable during periods of health-related income loss.
Loss of Employment insurance
Helps cover your mortgage payments if you unexpectedly lose your job.
What is it?
If you unexpectedly lose your job, this insurance steps in as a financial support system, helping you cover your mortgage payments during unemployment.
Why would you get it?
If you get laid off or let go unexpectedly, this insurance gives you peace of mind that you can continue paying your mortgage.
Tools to help you plan your mortgage.
Common questions.
Here’s what people ask us the most.
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No one expects an illness, injury, job loss or unexpected life event to happen—but sometimes it does. Mortgage insurance can help protect your home and reduce financial stress when you need support most, giving you and your loved ones greater peace of mind.
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It’s easy to think “it won’t happen to me,” especially when things are going well. But unexpected events can happen at any stage of life. Mortgage insurance provides protection so you have a plan in place if your circumstances change.
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Mortgage insurance can be added when you get a new mortgage or may be available during your mortgage term. The right time to consider coverage is before you need it, so you can have protection in place if life takes an unexpected turn.
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Mortgage insurance can help protect your ability to manage your mortgage if you experience certain unexpected events. Depending on the coverage you choose, it may help pay off your mortgage balance or cover payments due to death, critical illness, disability or loss of employment.
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No. Home insurance protects your property against things like damage or loss caused by events such as fire, theft or certain types of damage. Mortgage insurance helps protect your ability to make mortgage payments if unexpected life events affect your income or health.
Protect the home you’ve worked for.
The right protection depends on your family, your income and your plans. We can help you walk through your options and find the coverage that fits your life.
