Loan Insurance

Obtaining financing from National Bank to carry out a special project is an excellent decision, and taking out loan insurance is the best way to protect your project, come what may. In addition to our life and disability coverage, we offer critical illness insurance on mortgage loans, All-In-One financing and lines of credit. Plus, when you sign up for loan insurance on your mortgage loan or All-In-One (enrolment as of July 21, 2014), you also benefit from Loan Insurance Assistance, a personalized support program to ensure your well-being and quality of life.

In the event of your death, the insured balance of your loan will be paid

With our loan insurance, the insured balance of your loan will be paid in the event of your death. Your premium is calculated on the insured amount and your age. For mortgage loans, All-In-One financing and lines of credit, your gender and smoking status are also factored into the calculation of your premium. Depending on the type of financing, the premium can be fixed for the term of the loan if the conditions remain the same (mortgage loan, personal loan and personal loan with mortgage security) or adjusted on the anniversary date of your signing of the insurance application (All-In-One, line of credit and demand note). What's more, you can sign up for loan insurance at any time!

Critical illness insurance on mortgage loans, All-In-One financing and lines of credit for life during and after illness

Critical illness insurance will pay an amount in the event of a diagnosis of cancer, stroke or heart attack—the three most common health problems in Canada.

Thanks to medical advances and better living conditions, the rate of recovery from critical illness is rising. However, the road to recovery can be long and costly. With critical illness insurance, you can concentrate on getting better and avoid financial worries, both during and after your illness.

This insurance also includes coverage in the event of accidental dismemberment. Consequently, all or part of the insured amount of your mortgage loan, All-In-One financing or line of credit may be paid in the event of a serious accident resulting in a permanent injury.

In the event of disability, your insured payments will be covered

With disability insurance, your insured loan payments will be made for you if you are no longer able to work. The only conditions for eligibility are that you must have signed up for life insurance and worked a minimum of 60 hours during the 4 weeks preceding your insurance application or, if you are self-employed, you must have earned at least $10,000 in income during the fiscal year preceding the date you signed your insurance application.

Simplify your life with Loan Insurance Assistance: it's free and accessible at all times 

Loan insurance on your mortgage loan or All-In-One financing (enrolment as of July 21, 2014) offers a complete, personalized support program for free. It makes it possible for you to focus on what matters most: your health and quality of life.

Services are based on the loan insurance coverage you choose:

Services Life Disability Critical Illness
Quality of Life Concierge Service
Available at all times
X X X
Assistance in the Event of Death
Following an event
X X X
Health Care Concierge Service
Available at all times
  X X
Second Medical Opinion
Following an event
  X X
Home Assistance
Following an event 
    X

Affordable premiums that protect you against unexpected events

Loan insurance is the solution that lets you give your loved ones peace of mind at a reasonable cost. For even greater convenience, your premium is debited directly from your account.

Click on the following link to calculate the amount of your insurance premium on your mortgage loan or personal loan:

Share your coverage with your spouse

You can also insure your spouse, in addition to the co-borrower, endorser or guarantor of your loan and their spouses. They will all benefit from a reduced premium.

Your claim will be processed within 60 days

Submit your claim and we will respond as quickly as possible. Claims are generally settled within 60 days following receipt of all required documents.

Submitting a claim

In the event of death

National Bank Life Insurance
1100 University, 5th Floor
Montreal, Quebec  H3B 2G7

If you prefer to receive these forms by mail, contact us at the above address.

In the event of a covered critical illness

Check your insurance certificate to make sure that our loan insurance actually covers the diagnosed illness.

National Bank Life Insurance
1100 University, 5th Floor
Montreal, Quebec  H3B 2G7

In the event of disability

Check whether the disability period will be longer than the waiting period shown on your certificate. If it is not indicated, you can obtain this information by contacting us.

National Bank Life Insurance
1100 University, 5th Floor
Montreal, Quebec  H3B 2G7

If you prefer to receive these forms by mail, please contact us at the above address.

Once the claim is approved, the benefit will be paid to National Bank which will apply it to your loan payments.