Line of Credit Insurance

Coverages

Life insurance

In the event of death, the sum insured indicated on the insurance application is paid off. This amount cannot be less than $10,000 or exceed the amount of the line of credit (maximum $10,000,000 ^{[ 1 ]} per participant)

Disability insurance

In the event of disability, the monthly amount indicated on the insurance application is paid off. This amount can be up to 3% of the life insurance amount chosen (maximum of $10,000* per month, per participant)

* For all Line of Credit Insurance or Loan Insurance policies issued by the insurer.

Cost

• Premiums are calculated based on the:
  • coverages selected
  • number of insureds, their age and sex
  • sum insured
  • smoking habits
• The monthly premium is automatically withdrawn from your account.

Some restrictions apply

Benefits

• Disability benefits that can be paid for up to 60 months
• Non-taxable benefits that aren’t reduced by any amounts received from other private or public plans

Assistance services

• Free access to certain telephone assistance services offered under the Guide, Support and Protect Program :
  • Psychological Assistance
  • Convalescence Assistance – case management
  • Legal Assistance

Versatile Line of Credit holder?

See Loan Insurance – Versatile Line of Credit for the portion of Loan Insurance that applies specifically to this type of financing.