Feel free to compare the mortgage contract of your client!
A product that ensures payment of several types of credit, using one affordable and easy to use solution instead of other bank products.
We have 2 solutions to make sure you meet your client’s financial obligations should the following occur:
- Disability
- Death and disability
Eligible credit:
Any debt payable through periodic payments to a recognized Canadian financial institution.
For example, but not limited to:
- Mortgage loan and home equity line of credit
- Loan to purchase or lease an automobile, boat, motorcycle or recreational vehicle
- Investment loan
- Personal or business loan
- Line of credit
- Credit card
| Banking Institution* | Credit insurance offered | |
|---|---|---|
| Premium reimbursement | Not available | 2 options: Up to 100% at age 65 or 75% after 15 years |
| Beneficiary | Lending institution | At the holder’s option, and more than one beneficiary is allowed |
| Premium | Fixed for the term | 2 options: Levelled every 10 years or levelled at age 65 |
| Proof of health | Usually when a claim is submitted | Full medical assessment |
| Pre-existing conditions | 6, 12 or 24 months, variable depending on the contracts | None |
| Portability | No | Allows coverage to be maintained, even if there is a change to the lender |
| Flexibility | Limited | Amount, type of coverage, waiting period and fully flexible options |
| Other | Covers only the loan taken out with the institution | Can cover several different loans in several institutions |
*This is an overall summary based on the different policies available in the industry. One or several features may differ from those set out in this table.
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Do not hesitate to write us by filling out the contact form. It will be our pleasure to assist you in all the steps.
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