Meet the financial obligations associated with business loans in the event of death or disability without hassle.
Is this insurance for you?
Persons eligible: Available to eligible company members, regardless of the size or type of business or industry
Life insurance: must be under 70
Disability insurance: must be under 65 and already enrolled in life insurance
Benefits: Paid for the duration of the disability until the loan is paid in full or the insured reaches the age of 70.
Premiums: Based on due balance
Loan Insurance offers you 2 types of coverage:
When you take out Loan Insurance, you agree to an increased interest rate on your loan, or to pay the basic interest rate charged by your financial institution plus an additional interest rate for insurance.
The instalment premium is calculated based on the loan balance owing. Generally, the premium decreases as the loan balance decreases since it automatically reflects the principal payments made. As a result, you pay a fair premium for the real risk that your loan represents.
No matter what your type of business, its size or the business sector in which it operates, you are eligible for Loan Insurance if you are:
In most cases, eligibility for Loan Insurance is determined on the basis of a few medical questions asked when you apply for the loan. Based on your answers, you may be required to submit an insurability report.
Certain limitations, restrictions and exclusions may apply. For the complete list, see the Participant’s Guide or refer to the insurance policy, also available at your Caisse populaire.
There are no exclusions regarding the type of work.
This section summarizes the type of coverage provided and the terms and conditions of the Loan Insurance. The information is intended to be clear and simple, so that you can easily understand the product.
The insurance policy contains all the terms and conditions of Loan Insurance. Only the policy and insurance application will be used to settle legal disputes.
See the Distribution Guide or contact Desjardins Financial Security by toll-free at 1-866-838-7584, Monday to Friday, 8:00 a.m. to 5:00 p.m. (ET).