A couple moving in to their new home

Mortgage Insurance

What is Mortgage Insurance?

Mortgage insurance is a monthly fee paid by mortgage-holders to protect themselves or their families in the event that the mortgage holder is unable to continue paying the mortgage, due to death or unforeseen circumstance. This insurance is often mandatory for new homeowners.

When is Mortgage Insurance mandatory?

In Victoria BC, insurance for mortgages are generally a legal obligation with most financial institutions.

What does Mortgage Insurance cover?

Mortgage Insurance protects the lender holding your mortgage, but it can protect you, too. A good protection plan provides coverage for defaulted mortgage payments, so if unforeseen circumstances disable you and your family from completing a monthly mortgage payment, your insurance can cover the cost and keep you protected. Our protection plans will keep you and your family insured simply and affordably, with consistent rates and ease of exit.

Our Protection Plan offers:

  • Portability (i.e. if you change mortgage lender for the balance of the initial insurance term, the insurance continues with new mortgage lender)
  • Premiums that will not increase with your age, as long as your mortgage amount does not increase

Royale British Columbia Financial’s Mortgage Insurance Protection Plan provides simple and affordable mortgage insurance that may help protect your family from the financial burden represented by mortgage payments in the event of a death.

Our Life coverage will pay out the insurance proceeds to cover your financial commitment giving you peace of mind from the worry of potential financial burden to your family.

Get a Quote

Are you interested in this product or solution?

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Let's talk! I am here to help with your Insurance and Investment needs.

Faraidoun "Frank" Akhavan

Faraidoun (Frank) Akhavan

Office 205 - 3994 Shelbourne Street
Victoria BC, V8N 3E2

Cell 250-953-2304

Office 250-953-2300

Fax 250-881-7497

Skype faraidoun9

Email Frank Simply fill in the form below and we will get back to you shortly.

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I have been a client of Frank Akhavan for over 20 years. He is always kind, patient and speaks so that I can understand what he is explaining. He makes sure my best interests are always taken care of. I have been extremely happy with his advice and with my investment returns. If you want an honest, straight shooter, and someone who wants to help you meet your financial goals, Frank is your man. His office assistant Genea is also amazing. She too, is kind, patient and always available to answer questions or help when needed. All correspondence is replied to promptly which is very important to me.
- Maureen Garland -