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Secure Start

To learn more, contact customer care at 866 809 5800.

Enjoy Life in your HOME with Security

We know you want to ensure your family is always protected from financial hardship.

RMG Mortgages has a solution to help give you peace of mind, safe in the knowledge that your mortgage insurance will protect you and your family in the event of an illness, injury or death.

Protection for You and Your Family

When an unexpected loss of life, illness or injury occurs, the last thing you should have to worry about is your mortgage. After all, a disabling injury or illness can leave you off work for long periods of time, and the death of a loved one can have a large financial impact on the whole family.

Let RMG Mortgages help. With Secure Start, we can help protect one of your most valuable assets — your home. Secure Start can help provide the coverage you need during life - altering situations.

Do I really need to spend money on an insurance plan? I have life insurance with my employer already.

Having the added benefit of life insurance, long and short term disability, certainly helps with day-to-day costs such as utilities and taxes, but employer disability plans usually only cover a percentage of your income. Having the added security of mortgage life insurance means that neither your family or estate will need to use funds from any other life insurance plan to pay your mortgage. Secure Start can help ensure one of your largest assets — your home — is protected, regardless of any additional coverage you may have.

Mortgage Insurance for Real Life

Life and Accidental Death Insurance

Losing a loved one is traumatic, and can create a significant financial burden for some families.

Let Secure Start help ease your worries by providing a life insurance product that pays the remainder of your mortgage – up to a maximum of $500,000.

Our Secure Start coverage has the added benefit of providing temporary accidental death coverage – even before you receive confirmation of your life insurance – for up to the first 60 days after you submit your application. That’s just a bit of additional security whether you’re living in your home or are just getting ready to move!

Disability Insurance

Struggling with a disabling illness or injury is stressful for the entire family. How long will you be off work? Will you need to find a new career path and pay for training or go back to school?

Secure Start can help take the worry off your shoulders by covering your mortgage payments – up to $4,000 per month for up to 24 months.

Recognition of Prior Coverage

Even if you have been approved for coverage in the past, life changes may prevent you from being approved in the future. But Secure Start won’t leave you stranded - if you aren’t approved for life or disability on your current application, Secure Start will recognize prior coverage on the refinanced mortgage.*

Coverage You Can Count On

We can never fully prepare for the unexpected, but Secure Start can help make sure you feel protected. Knowing that your family will have fewer worries about mortgage payments makes it easier to sleep soundly at night.

Coverage Highlights

How much will it cost?

We’ve provided some sample estimates so you can get a better idea of potential coverage costs when setting up your budget for your home.

Life

Premiums are based on the Insured Person’s:

To calculate the monthly insurance cost, multiply the initial insured mortgage balance at time of application by the appropriate premium rate and divide by 1,000.

Monthly Premium Rates are per $1,000
Age Band Single Joint
18 – 30 0.09 0.14
31 – 35 0.13 0.19
36 – 40 0.20 0.30
41 – 45 0.29 0.44
46 – 50 0.40 0.58
51 – 55 0.55 0.80
56 – 60 0.75 1.15
61 – 64 1.06 1.59
Sample Calculations for 100% Coverage
Example 1 $200,000 mortgage, single coverage, for 28-year-old
Calculation: 200,000 divided by 1,000 times 0.09 = $18.00 per month
Example 2 $200,000 mortgage, joint coverage, oldest person is 33 years old
Calculation: 200,000 divided by 1,000 times 0.19 = $38.00 per month
Applicable sales tax will be added to premiums.

Disability

Premiums are based on the Insured Person’s:

To calculate the monthly insurance cost, multiply the initial insured monthly mortgage payment at time of application by the appropriate premium rate and divide by 100.

To calculate the monthly insurance cost, multiply the initial insured monthly mortgage payment at time of application by the appropriate premium rate and divide by 100.

Monthly Premium Rates are per $1,000
Age Band Single Joint
18 – 30 1.30 2.50
31 – 35 1.70 3.30
36 – 40 2.10 4.00
41 – 45 2.65 5.15
46 – 50 3.20 6.25
51 – 55 4.00 7.75
56 – 60 5.00 9.75
61 – 64 5.75 11.00
65 – 69* 7.00 13.50
* Rates only applicable for existing insured persons who are refinancing an insured mortgage.
Joint premium rates will be based on the lesser of the joint rates using the age of the oldest person insured or the sum of the single rates for each person insured.
Sample Calculations for 100% coverage
Example 1 Monthly mortgage payment of $900, single coverage, for 28-year-old
Calculation: 900 divided by 100 times 1.30 = $11.70 per month
Example 2 Monthly mortgage payment of $725, joint coverage, oldest person is 33-years-old Calculation: 725 divided by 100 times 3.30 = $23.93 per month
Applicable sales tax will be added to premiums.

To learn more, contact customer care at 866 809 5800

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*Amount must be equal to or a lesser amount of the current RMG Mortgages mortgage application and your last mortgage insurance must have been approved and provided by Sun Life Assurance Company of Canada.
RMG Mortgages is a division of MCAP Financial Corporation | Ontario Mortgage Broker licence #10600 | Ontario Mortgage Administrator licence #11790
This page provides the highlights, but not all the details of Secure Start from RMG Mortgages. The complete terms, conditions, exclusions and limitations governing the insurance coverage are found in the group insurance policy issued to RMG Mortgages by Sun Life Assurance Company of Canada. Those governing documents will prevail if they differ from this brochure.Life and disability insurance coverage for mortgages is underwritten by Sun Life Assurance Company of Canada. Prices listed do not include the Provincial Sales Tax if applicable.