Most Canadian homeowners never realize this

Your bank's mortgage insurance gets smaller every year. Your payments usually don't.

Compare your bank's coverage against a personally owned policy in about two minutes.

See your estimated monthly difference, how your coverage changes over time, and how much money you could keep instead.

No email required If your bank's option is better, we'll tell you
Show Me My Comparison →
$53/moestimated difference
🔒 Your information stays private on your device
Coverage over time
Your bank's coverage disappears. Your premium doesn't.
Bank covers · Year 15
$196,400
Term covers · Year 15
$450,000
Term (level)Bank (decreasing)
$450k $300k $150k $0 Today Year 25
Bank mortgage insurance
$95/mo
Your own 25-yr term
$42/mo
Estimated difference
$53/mo
Over 25 years
$17,602
if you invested it instead
How it works

Your real numbers in three steps

Runs entirely on your device — you only share details if you want your exact figures.

1

Enter your information

A few basics — runs on your device, nothing is sent.

2

See your numbers

Your monthly difference — and what it could grow to.

3

Get your exact figures

One licensed agent. Your real numbers within 24 hours.

The comparison

See it on your own numbers

Adjust your details and watch the two policies diverge — the bank's coverage falling while your own stays level.

Your numbers🔒 stays on your device
Mortgage balance $450,000
Your age 38
Years left on mortgage 25
Smoker
NoYes
Sex
MaleFemale
Coverage over time
Your bank's coverage disappears. Your premium doesn't.
Bank covers · Year 15
$196,400
Term covers · Year 15
$450,000
Term (level) Bank (decreasing) ▧ the gap = coverage your family loses
$450k $225k $0 coverage lost Today Year 25
Bank mortgage insurance
$95/mo
  • Coverage shrinks as you pay down
  • Pays the bank — not your family
  • Health often reviewed after a claim
Personally-owned 25-yr term
$42/mo
  • Coverage stays level the entire term
  • Pays your family — they decide
  • Underwritten before you pay a cent
Estimated difference
$53/mo
Over the term
$12,720

On your numbers, your own policy could cost about $53/mo less — and keep covering your family the whole way.

These are estimates. Your exact numbers — your bank's real rate against a real quote — take about two minutes.

The part nobody explains

The bank's insurance is built to protect the bank's loan — not your family.

It's not a scam — it's just whose interest the product was designed around. Once you see the reason, the price difference makes sense.

It insures the loan, not you

The coverage is tied to your mortgage balance — so as you pay the loan down, there's less of it to insure and the payout shrinks to match. Your premium doesn't.

The bank is the beneficiary

The payout is written to clear the lender's balance first, so the money goes to the bank. A policy you own names your family instead — they decide what it's for.

Eligibility is checked at claim time

Some creditor cover skips full underwriting up front and only confirms it after a death — the one moment a gap can no longer be fixed. Your own policy is settled before you pay a cent.

If you kept the difference

The same money, working for you instead.

$17,602
after 25 years at 4.0% — versus $12,720 kept as cash.
Hand the difference to the bank instead → keeps $0 for your family
Assumed annual return4.0%
1%Cautious 4%8%
↔ drag to see how the number moves
≈ a family car≈ a year of groceries≈ a strong RESP start
Hypothetical illustration only. Not a projection, guarantee, or offer of any investment product. Assumes the monthly difference is invested at the selected annual rate, compounded monthly, with no fees or taxes.
Invested Kept as cash
Today Year 25
Before you request your audit

Common questions

Why is bank insurance allowed to work this way?
It's a legitimate product — it's just designed around the lender's interest, not yours. Creditor insurance exists to retire the bank's loan if you pass away, so it's built to match the shrinking balance and pay the bank. A personally-owned term policy is designed around your family instead. Neither is hidden; most people just never have the two put side by side.
Is this really free? What's the catch?
Yes — the audit is free and there's no obligation. If you decide to set up your own coverage, the advisor is paid by the insurer, not by you. And if your bank's plan genuinely is your best option, the audit will tell you that plainly.
I already have the bank's mortgage insurance — is switching a hassle?
Not at all. A personally-owned term policy is completely separate from your mortgage and your lender. You put the new coverage in place first, then simply cancel the bank's — nothing about your mortgage, your rate, or your relationship with the bank changes.
Will requesting this flood me with calls and emails?
No. One licensed advisor sends your comparison and a short note to confirm one detail so the numbers can be exact. No call centre, no daily emails. You choose whether to take it further.
I already have life insurance through work — isn't that enough?
It's a good start, but group coverage usually ends when the job does, and it's often a flat amount that wasn't sized to your mortgage. The audit shows whether your current coverage actually covers the balance your family would be left with.
Two minutes

See your real numbers today.

Your bank's actual rate against a real quote, side by side, within 24 hours. If the bank's plan wins, we'll tell you that plainly.

Start my comparison →