Optional Loan Protection Plan for
Personal Lines of Credit

Alleviate your worries and borrow with reassurance by
enrolling in the Optional Loan Protection Plan.

How Loan Protection Works

Peace of Mind
Ensure you, your family, and your credit rating are safe.
Easy Enrollment
Enrollment is as easy as checking a box on your online loan application.
Quick Claims
Most claim decisions are made within 72 hours based on the completed claims package being received by the insurer.

Loan Protection Coverage*

When you enroll in the optional Loan Protection Plan, your loan payments and/or outstanding loan balance may be covered if you experience lifetime milestones or unexpected changes.

Loan Payment Protection Insurance

Involuntary Unemployment

If you are laid off without cause.

Benefit: Payments may be made for up to 6 months.

Plus: if you are still unemployed after 6 months, an additional lump sum payment may be made equal to the remaining balance to a maximum of $2,000. (Maximum potential total benefit $4,000.)

Personal Loan Protection Insurance

Injury or Sickness

In the event that you sustain an injury or illness that prevents you from working for ten consecutive business days or longer.

Benefit: Payments may be made for up to 6 months.

Plus: if you are still unemployed after 6 months, an additional lump sum payment may be made equal to the remaining balance to a maximum of $2,000. (Maximum potential total benefit $4,000.)

Payment Protection Insurance for Loans

Critical Illness

In the event that you are diagnosed with life-threatening cancer, suffer a stroke, heart attack, kidney failure or a major organ transplant for the first time in your life.

Benefit: 100% payment.
Your outstanding principal balance on date of critical illness. (Maximum potential total benefit $10,000.)

Line of Credit Protection

Loss of Life

If you pass away.

Benefit: 100% payment.
Your outstanding principal balance on date of death. (Maximum potential total benefit $10,000.)

Personal Loan Insurance

Lifetime Milestone Support

For occasions such as retirement from employment, purchase of a home, final payment of mortgage, birth or adoption of a child, marriage, graduation from post-secondary education, first job after graduation, or attending an apprentice program training.

Benefit: Payments may be made for 3 months. (Maximum potential benefit of $2,000.)

Loan Payment Protection

Unpaid Family Leave Support

If you have an unpaid leave of absence from your employment for more than 14 days, approved by your employer, to provide care or support to your spouse, child, or parent with a serious health condition.

Benefit: Payments may be made for 3 months. (Maximum potential benefit of $2,000.)


*See Summary of Coverage and Certificate of Insurance for full coverage details including exclusions. The optional protection plan is a group credit insurance program underwritten by Canadian Premier Life Insurance Company and Canadian Premier General Insurance Company.

Apply for a personal Line of Credit that provides you with the money you need
and covers you when the unexpected happens.

Apply for Credit
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