Mortgage Loan Insurance is required by law for certain lenders to insure them against default on mortgages with a loan to value ratio greater than 80%. The insurance is provided by Canada Mortgage and Housing Corporation (CMHC, a crown corporation), and Genworth Insurance Company, (an approved public corporation), Canada Guaranty (an approved public corporation) and other entrants into the Canadian market. The premiums for this insurance, (ranging from .50% to 7.3% of the mortgage amount), are paid by the borrower and can be added directly onto the mortgage amount, and amortized over the life of the mortgage. Mortgage loan insurance is not the same as Mortgage Life Insurance. Find out more at the Canada Mortgage and Housing Corporation website.