Mortgage Protection Insurance Calculator

Enjoy peace of mind with BMO's convenient coverage options. Life and Critical Illness Insurance will help protect your mortgage balance, while Disability and Job Loss Insurance can help protect your mortgage payment.

To use this calculator:
  1. Complete the info about YOUR Mortgage.
  2. Indicate the age of the applicant(s).
  3. Select insurance type(s) using the drop down options of 0%, 50% or 100% that make up YOUR CHOICES.
  4. Click the Calculate button for a premium Quote.
  5. To try again with different numbers, type over your old numbers, or click RESET.
* All fields mandatory
Mortgage Amount
Interest Rate %
Amortization Period Years
Payment Frequency
Payment Amount
Mortgage Protection Insurance:
  • For Life and Critical Illness Insurance each borrower on the mortgage can select 50% or 100% coverage of the mortgage balance, up to the maximum insurable limit.
  • For Disability and Job Loss insurance each borrower on the mortgage can select 50% or 100% coverage of the mortgage payment, up to the maximum insurance limit.
  • The monthly premium rate is based on a borrower’s age at time of application. Premium is charged for each person insured. If two or more persons are insured, a multi-insured discount rate will apply based on the age of each person insured.
  • Please refer to the Certificate of Insurance for complete details.
Borrower #1 Borrower #2
Age(s) of Borrower(s)
Life Insurance
Critical Illness Insurance
Disability Insurance
Job Loss Insurance
Life Insurance Monthly Payment
Critical Illness Insurance Monthly Payment
Disability Insurance Monthly Payment
Job Loss Insurance Monthly Payment
Total Monthly Insurance Payment *
Plus provincial sales tax if applicable

If more than one borrower applies for the same type of coverage, a multi-insured discount is applied.

*This quote is provided for information purposes only and is not an offer of credit from the Bank of Montreal or an offer to provide BMO Mortgage Protection Insurance underwritten by Sun Life Assurance Company. It does not form part of any insurance contract that may be issued. To learn more or apply for BMO Mortgage Protection Insurance, please contact your local branch.