Mortgage loan insurance is insurance provided by Canada Mortgage and Housing Corporation (CMHC), a crown corporation, Genworth Financial Canada or Canada Guaranty, approved private corporations. This insurance is required by law to insure lenders against default on mortgages with a loan to value ratio greater than 80%. The insurance premiums, ranging from 0.60% to 4.50%, are paid by the borrower and can be added directly onto the mortgage amount. This is not the same as mortgage life insurance.