An insured loan is all the more reassuring!
Is this insurance for you?
Persons eligible :Borrowers, their spouses or guarantors
Life insurance :Must be under 70
Disability insurance :Must be under 65 and already enrolled in life insurance
Eligibility :You need to answer only a few questions to determine your eligibility
Maximum of $45,000 per participant ($22,500 if age 55 or older)
* For all Loan Insurance or Line of Credit Insurance policies issued by the insurer.
** Cancer recurrence: a cancer diagnosis occurring more than 60 months after treatment for a previous cancer diagnosis has ended.
This makes it possible to calculate the instalment premium 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.
Read the Loan Insurance Participant’s Guide (PDF)