Types of insurance:
1Life insurance is a prerequisite for disability and critical illness coverage.
Type of insurance | Insurable persons | Age of eligibility | Termination of insurance |
Life | Borrower
Borrowerâs spouse Co-borrower Guarantor or surety (9 insureds maximum) |
Between 18 and 69 years old inclusively | 75 years old |
Disability1 | Borrower
Co-borrower Guarantor or surety (2 insureds maximum) |
Between 18 and 64 years old inclusively | 70 years old |
Critical illness1 | Borrower
Co-borrower (2 insureds maximum) |
Between 18 and 55 years old inclusively | 70 years old |
1Life insurance is a prerequisite for disability and critical illness coverage. | |||
You must also be a permanent resident or a Canadian citizen when you sign the application. |
Life insurance: Life insurance protects your family from the financial impact of a death. The insurer pays a benefit at the time of death of an insured.
Disability insurance: Disability insurance enables you to keep up with your commitments while maintaining your lifestyle if you are no longer able to work due to an accident or illness. The insurer pays a benefit upon the insured’s disability, following the 60-day waiting period.
Critical illness insurance: Critical illness insurance protects you from the fiÂnancial consequences associated with diagnosis of a critical illness such as cancer, heart attack or stroke. The insurer pays a benefit when a critical illness is diagnosed, following the 30-day survival period.
Exclusions and limitations
Insurance coverages on the versatile line of credit are offered by Acadia Life. They include certain exclusions and restrictions. To find out what they are, you can consult the insurance contracts available at your Caisse.
Legal notice
The information presented on this site summarizes the nature and conditions of the insurance coverages available on the versatile line of credit. It has no contractual value. This information is intended to be clear and simple and to facilitate your understanding of these products.
The insurance contracts contain all the terms and conditions of the insurance coverages. Only the contracts can be used to determine legal issues.
Want to know more about the types of insurance coverage available on the versatile line of credit?
For more information, do not hesitate to contact us to schedule an appointment.