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.

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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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It was the night before my trip to Maui and I realized when I was packing that I didn’t have my travel insurance lined up. I phoned Royale British Columbia Financial Inc and they were able to help me obtain the right insurance for my kids and I in just a few minutes. I couldn’t believe how fast Royale made it happen.
- Sarah -