Mortgage insurance companies in Canada (2025)

Mortgage insurance is a critical component of homeownership in Canada. Whether you’re protecting your family’s future or securing a mortgage with a smaller down payment, it’s important to understand the role of mortgage insurance and the companies that provide it.

This guide explores:

• Mortgage Loan Insurance (protects lenders)
• Mortgage Life Insurance (protects homeowners and their families)
• The leading providers of both types of insurance
• How to get help if your mortgage life insurance claim is denied

Mortgage loan insurance: protecting lenders

If your down payment is less than 20% of the home’s purchase price, you’ll need mortgage loan insurance. This type of insurance protects lenders in case you default on your mortgage, while also allowing buyers to access financing with lower down payments.

Major mortgage loan insurance providers in Canada

• Canada Mortgage and Housing Corporation (CMHC): The largest and most well-known government-owned mortgage insurer in Canada. It offers first-time homebuyer programs and affordable housing solutions.
• Sagen MI Canada: A private-sector insurer offering solutions for non-traditional borrowers. Focused on self-employed individuals and buyers with variable income.
• Canada Guaranty: A fully Canadian private mortgage insurer.

Mortgage life insurance: Protecting homeowners and families

Unlike mortgage loan insurance, mortgage life insurance focuses on protecting homeowners and their loved ones. It ensures your family can continue making mortgage payments if you pass away, become disabled, or are diagnosed with a critical illness. This type of insurance can provide invaluable peace of mind, knowing your home is secure during life’s unexpected events.

Top mortgage life insurance companies in Canada

• AMA Insurance
• Beneva
• Blue Cross
• BMO
• Canada Life
• Chubb Life
• CIBC Life
• Cigna Life
• Co-operators Life
• CUMIS
• Desjardins
• Edge Benefits
• Empire Life
• Equitable Life
• First Canadian
• Humania Assurance
• Industrial Alliance
• ivari
• Manulife
• RBC
• Sunlife
• TD Life
• Wawanesa

Key differences between mortgage loan and life insurance

• Mortgage Loan Insurance: Protects lenders; required for down payments under 20%.
• Mortgage Life Insurance: Protects homeowners and families; covers mortgage payments during significant life events like death, disability, or critical illness.

Denied a mortgage life insurance claim? Here’s how we can help

Unfortunately, mortgage life insurance claims can sometimes be denied by insurers, leaving families in a financially vulnerable position during an already difficult time. Common reasons for denial include:

• Allegations of misrepresentation on the insurance application.
• Disputes over medical history or pre-existing conditions.
• Delays in submitting claims or required documentation.

If your claim has been denied, don’t accept the insurer’s decision at face value. You have the right to challenge it. The experienced insurance lawyers at Samfiru Tumarkin LLP can help:

• Review your claim denial: We’ll assess your case to determine if the denial was valid.
• Challenge unfair denials: We’ll advocate for your rights and negotiate directly with the insurer.
• Secure the benefits you’re owed: If necessary, we’ll take legal action to ensure you receive the protection you paid for.

Why choose Samfiru Tumarkin LLP for your mortgage insurance claim?

• Proven Success: We’ve helped thousands of clients in Ontario and across Canada—including Sandra Bullock, Florence Steele, Julie Austin, and Mitch Murphy—secure denied insurance benefits.
• No Upfront Fees: We operate on a contingency fee basis—you don’t pay unless we win.
• Dedicated Advocacy: We’re committed to safeguarding your financial security.

As Canada’s most positively-reviewed insurance and disability law firm, we can also help if you have an LTD, STD, critical illness or life insurance claim matter.

Contact us today

If your mortgage insurance claim has been denied, don’t navigate the process alone. We’ve won millions of dollars in compensation for clients across all Canadian provinces (excluding Quebec), always focusing on achieving the full amount you deserve. Some of our lawyers have previously worked for some of the largest insurance companies—we’ve turned that expertise into your advantage. This gives us unique insight into their tactics and how to handle them effectively.

Contact us online for a free consultation, or call 1-855-821-5900, and let our mortgage life insurance lawyers help you secure the benefits you’re owed.

Additional resources

• List of Long-term Disability Insurance Companies in Canada
• Critical Illness Insurance Companies in Canada
• A list of Canadian life insurance companies

Our team of experienced mortgage life insurance lawyers can help individuals across all Canadian provinces (excluding Quebec):

Alberta • British Columbia • Manitoba • New Brunswick • Newfoundland & Labrador • Nova Scotia • Ontario • P.E.I. • Saskatchewan