Why We Built This
Because no one should pay $10,000+ more than they need to for life insurance.
Our Mission
Every year, millions of Canadians sign a mortgage and are offered “mortgage life insurance” by their bank. It sounds responsible. It sounds easy. And the monthly premium seems manageable.
But here's what the bank doesn't tell you: you're paying 2-3x more than you need to for inferior coverage. Your coverage shrinks while your premium stays the same. The bank is the beneficiary, not your family. And your claim can be denied after you die through “post-claim underwriting.”
We built SmartMortgageInsurance.com to change that. Our free calculator shows you exactly how much you're overpaying, and connects you with independent life insurance brokers who can get you better coverage for less.
What We Believe
- Canadians deserve to know the true cost of what their bank is selling them
- Life insurance should protect your family — not the bank's balance sheet
- Financial education tools should be free and accessible
- Transparency beats fine print every time
Disclosure & Transparency
We are not a bank, insurance company, or licensed advisor. SmartMortgageInsurance.com is an independent educational resource. We provide calculators and comparisons to help Canadians make informed decisions.
How we make money: When you request quotes through our site, we may receive a referral fee from the insurance brokers who contact you. This does not affect the quotes you receive or the premiums you pay. The brokers are independent and licensed in your province.
Rate accuracy: The bank rates shown on this site are estimates based on publicly available information and industry research. Actual bank premiums may vary. Term life rates are estimates based on industry averages for healthy non-smokers; your actual rate will depend on your health, lifestyle, and chosen insurer.
Not advice: Nothing on this site constitutes financial, insurance, or legal advice. Always consult with a licensed professional before making insurance decisions. We encourage you to verify all figures with your bank and with independent brokers.
Privacy
We take your privacy seriously. Any information you provide through our calculator or lead form is stored locally on your device and shared only with the insurance brokers you request quotes from. We comply with PIPEDA (Personal Information Protection and Electronic Documents Act).
We do not sell your data. We do not send spam. We do not share your information with banks.