Mortgage insurance benefits
- Security Insurance cost can be added to your monthly mortgage payment or paid as a lump sum
- SCU members receive affordable group rates
- Peace of mind for you and your loved ones during a difficult time
- Enrolling is easy and arranged at the time of your mortgage application
Mortgage insurance options
Pays your monthly insured payments if you become disabled or sick and are unable to work.
In the event of your death, your outstanding insured mortgage amount will be paid, freeing your family from financial stress during a difficult time.
In case you suffer a stroke or heart attack, or are diagnosed with life-threatening cancer, your insured mortgage balance is paid so you can focus on recovering.
In the event you are affected by job loss, know your insured monthly payments are covered. Loss of employment insurance pays your insured monthly payments if you become involuntarily unemployed.
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Mortgage insurance coverage is optional and is underwritten and provided by CUMIS Life Insurance Company. Creditor’s group insurance coverage is optional and is underwritten by Co-operators Life Insurance Company. Supporting services, such as enrollment intake, medical underwriting and claims administration are provided by the employees of CUMIS Services Incorporated. Coverage is governed by the terms and conditions of the creditor’s group insurance policy issued to the creditor and is subject to terms, conditions, exclusions and eligibility requirements. See the Product Guide and Certificate of Insurance for full coverage details.