Benefits of taking cover.
It’s all taken care of.
Payment of your line of credit balance upon death of one of the participants.
Covering unexpected moments.
Accidental death coverage at no additional cost from the time you sign the application and during the application process.
Insure only what you use.
Your premium is based on the balance used of your equity line of credit.
Simplify life for your loved ones in the event of death.
Shorten the time it takes to settle an estate.
Insurance is terminated on the earliest of the following dates:
The borrower reaches 70 years of age;
The line of credit or the premium is in default on 2 payments;
The insurer pays a death claim for the line of credit;
The line of credit is voluntarily cancelled by the insured person;
The line of credit is closed or refinanced.
Accidental dismemberment insurance.
This coverage is included with your life insurance. For information about the benefits paid, refer to the insurance certificate. These vary between 33% and 100% of your line of credit balance.