Life insurance:

• Will pay off the balance of your loan multiplied by the life insurance percentage you’ve selected (between 10% and 100%)
• Up to $10 million

Disability insurance

• Will cover your regular loan payments based on the percentage you’ve selected for your entire disability period or until you turn 70
• In case of disability due to cancer, payments will be made from the first day of disability
• You can insure between 10% and 100% of your loan as long as the percentage is equal to or less than your life insurance percentage
• Will pay the insured portion of your instalment payments, up to $10, 000 per month, per person

Benefits paid

• Amounts paid are non-taxable and are not affected by benefits paid by other private or public plans

3 services included

• Psychological Assistance: a confidential phone service that includes a set number of consultations with psychological health specialists to help you through difficult times.
• Legal Assistance: information about your rights, obligations and possible solutions to help you resolve legal problems.
• Autonomy Assistance: a phone service for people who are experiencing a loss of independence and for their caregivers. You can get recommendations and help with coordinating housekeeping and daily living services that can complement those offered by the government.

To take out loan insurance, you must:

• live in Canada
• be the borrower or the borrower’s guarantor
• be 69 or under (for the life insurance coverage)
• be 64 or under and have the life insurance coverage (for the disability insurance coverage)

Premiums are charged as an additional interest rate applied to the balance of your loan. This rate varies based on:

• the type(s) of coverage you choose
• the insurance percentage(s) you choose
• the number of people being insured, their age, their sex and whether or not they smoke
• the amount of the loan

You’ll get a discount on your life insurance if you get disability insurance as well.

We offer a special rate for non-smokers.

Your premium decreases as you pay off your loan, so you’re always paying a fair price for your insurance.

For loan insurance on a Versatile Line of Credit, the premium:

• is calculated on a 10-year amortization period
• is included in your instalment payments
• varies based on the authorized limit for the Versatile Line of Credit

For a full list of conditions, consult the insurance policy available at your caisse. You can also refer to the following documents:

• If you signed your application on or after November 24, 2019, see:
• Loan Insurance Documents (PDF, 1.21 MB) This link opens in a new window.
• Loan Insurance – Versatile Line of Credit Documents (PDF, 1.25 MB) This link opens in a new window.
• If you signed your application before November 24, 2019, refer to the Loan Insurance and Loan Insurance – Versatile Line of Credit Guide (PDF, 232 KB) This link opens in a new window.
• To learn more about your coverage if you're diagnosed with cancer, refer to the Cancer Diagnosis Coverage Guide – Loan Insurance and Loan Insurance – Versatile Line of Credit (PDF, 253 KB) This link opens in a new window.

Legal notice

The information on this site is intended to help you understand the product by providing a simple, clear summary of the nature and conditions of the insurance. Only the policy and the insurance application will be used to settle legal disputes. Refer to the insurance policy for a full list of terms and conditions.