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Insurance on the business loan

Meet the financial obligations associated with business loans in the event of death or disability without hassle.

Is this insurance for you?

  • You hold a business loan at your Caisse.
  • You are looking for a protection that will allow you to meet the financial obligations related to your loan in the event of death.
Outlines

Type of insurance

Life

Insurable persons

Borrower, co-borrower, guarantor or surety, shareholder, officer, key person

Age of eligibility

Between 18 and 69 years old inclusively

Termination of insurance

75 years old

*An individual who plays an essential role in the borrowing company’s ability to meet its financial obligations.

You must also be a permanent resident or a Canadian citizen when you sign the application.

Features

Coverage

  • Life Insurance: Life insurance protects your business from the financial impact following a death. The insurer pays a benefit at the time of an insured’s death.

Cost

  • Premiums are calculated based on the:
    • number of insureds and their age
    • sum insured
  • The monthly premiums are automatically withdrawn from your account.

Benefits

  • Death benefit:
    • Insurance coverage of up to $1 500 000
  • Non-taxable benefits that aren’t reduced by any amounts received from other private or public plans
More information

Exclusion and limitations

Life insurance coverage on the business loan is offered by Acadia Life. It includes certain exclusions and restrictions. To find out what they are, you can consult the insurance contract available at your Caisse.

Legal Notice

The information presented on this site summarizes the nature and conditions of the life insurance coverage available on the business loan. It has no contractual value. This information is intended to be clear and simple and to facilitate your understanding of the product.

The insurance contract contains all the terms and conditions of the insurance coverage. Only the contract can be used to determine legal issues.

Want to learn more about the Loan Insurance?

For more information, do not hesitate to contact us to schedule an appointment.

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