of your loan balance paid in the event of death
of disability benefits–the insurer will make your loan or line of credit payments to the Bank
In the event of death, the insured balance of your loan will be repaid so your loans won't become a burden to your loved ones. The maximum insurable amount is $500,000 for a personal loan and $1 million for a line of credit.
Rest easy knowing that if you become disabled and are unable to work, some of your payments will be made for you. Get up to 48 months of benefit payments for the duration of the loan for all insureds and up to 24 consecutive months of benefit payments per disability. See the eligibility criteria.
If you're diagnosed with cancer or suffer a stroke or heart attack, we'll cover your insured balance so you can focus on getting better. The maximum insurable amount is $150,000 for a personal loan and $1 million for a line of credit.
||Place of residence
||18 to 64 years old
||Within Canada and the U.S.
||Be a borrower, co‑borrower, guarantor or endorser, or the spouse of any of these
|Have signed up for life insurance
• Have worked a minimum of 60 hours during the 4 weeks preceding the insurance application
• Self-employed worker: Have earned at least $10,000 in income during the fiscal year preceding the date the insurance application was signed
|Critical illness and accidental dismemberment
||Have signed up for life insurance
* You are not eligible for disability insurance if you receive income replacement benefits, are on a leave of absence or are unemployed
Loan insurance claims
Distribution guides | Summaries and certificates
||Distribution Guide (f.30923) [PDF]
Summary and certificate (f.16330) [PDF]
|Line of credit
||Distribution Guide (f.19928) [PDF]
Summary and certificate (f.16334) [PDF]
||Distribution Guide (f.31241) [PDF]
Summary and certificate (f.16332) [PDF]
|Personal loan with mortgage security
||Distribution Guide (f.31242) [PDF]
Summary and certificate (f.16336) [PDF]