Unique mortgage protection with term

Available in 10 and 20 year renewable plan options, or a non-renewable plan with level premiums payable to the later of 30 years or age 65.1 Term insurance from Equitable Life provides flexible and affordable protection for your mortgage.

Not all mortgage protection is created equal. Before you buy, ask the following questions:


Equitable Life Your lender

Do you get to pick the beneficiary?


Is it convertible?


Can you keep it if you move?


Are you in control?


When you choose to protect your mortgage with term insurance from Equitable Life, you benefit from features designed for your peace of mind.


When it comes to protecting your mortgage, you have a choice.

Equitable Life term insurance Feature Mortgage insurance through a lender

Your mortgage protection remains
intact even if you switch lenders.


When you switch mortgage providers, you usually need to reapply for your mortgage insurance.

You own the policy and choose the beneficiary you want to receive the
death benefit.


With typical mortgage insurance, the lender owns the policy and assigns itself as the beneficiary.

Your coverage amount remains intact even as your mortgage balance

Level coverage

Typical mortgage insurance declines as your mortgage balance decreases, however your premiums stay the same.

You benefit from insurance
underwritten at the time of application.


Typical mortgage insurance is only underwritten at the time of death.

Your rates are guaranteed for the
life of the policy - it's right in the contract.

death benefit
and premiums

Typical mortgage insurance rates are not guaranteed.


Rewarding your healthy lifestyle

At the time of issue, your good health and lifestyle are rewarded with better premiums as determined by preferred underwriting through five classes of risk.

These classes help ensure that your term plan is among the most competitively priced on the market. Provided you don't increase the amount of your coverage, your preferred status remains intact upon conversion2 or renewal3, even if your health has declined.

Built-in extras

Term insurance from Equitable Life automatically includes:

  • Guaranteed conversion - As your needs change, you can convert your temporary coverage to permanent protection with no medical exam required.
  • Living benefit4 - Pays out a portion of the death benefit to you upon diagnosis of a terminal illness.
  • Bereavement counselling benefit5 - Reimburses the cost of grief counselling to help support those left behind.

Term: It's ideal if…

If you're looking for financial protection for a specified period of time with the option of making changes as your protection needs change, term insurance may be right for you.



1 Maximum issue age for Term 30/65 is age 55. 2 For all term plans, conversion must take place within 10 years to maintain preferred status. 3 Only Term 10 and 20 are renewable. Term 30/65 is non-renewable. 4 Policy must be in good standing. The living benefit is paid upon diagnosis of an illness that will become terminal within 24 months. 5 Up to $500 shared among all beneficiaries.