Mortgage payment protection is a very important form of protection and advisable for most home owners as one of the worse scenarios you would not like to happen is the possible loss of your home through becoming unemployed or ill. Illness or injuries can be common and can occur at any point within your life through no fault of your own; this is why it is important to consider protection to ensure that you are covered for such scenarios.
Mortgage protection insurance or sometimes known as ASU cover can provide you with protection for such aspects as unemployment, sickness and accidental injury. Mortgage payment protection allows you the ability to help you maintain payment on your mortgage and other related expenses for the period agreed. The last thing you would ever want to lose is your home, so for a monthly premium you can take out protection insurance that will ensure that you are covered against these possibilities.

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Toronto Mortgage Broker

I agree with Toronto Mortgage broker, However you do have time limitations or how long the cover will last [up to 2years with some policies] if your budget can afford a little extra than take a look at Family Income protection in the very worse case it will cover you up to retirement date, try to seek the advice of an Independent Financial advisor who will look at your personal circumstances and advise accordingly.