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Line of Credit Insurance

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Life is full of surprises. However, not all surprises are pleasant. What would happen to your family in a worst-case scenario? Have you thought of everything in case the unexpected occurs?

Give your family peace of mind with our line of credit insurance!

By subscribing now to a line of credit insurance from Laurentian Bank, you can be certain that you will not leave your family in need in the event of death or accidental dismemberment.

Don’t wait for the unexpected to happen. Request your quote today!

Benefit from numerous advantages

  • Have peace of mind: Reimbursement of the balance of your line of credit upon the death of one of the participants.
  • Rest easy: Benefit from accidental death coverage at no additional cost from the time the application is signed and during the application process.
  • Avoid surprises: Your premium is calculated according to the balance used.

What you also gain in return

  • Make life easier for your loved ones in the event of your death.
  • Reduce the time it takes to settle an estate.

FEATURES
Eligibility criteria1
  • You are between the age of 18 and 64.
  • You are the borrower, co-borrower or guarantor.
  • You are a Canadian resident.
Maximum insurable amount $250,000
Premium type The premium is debited monthly and calculated based on the balance used.
  • The rate that determines the premium is based on the borrower's age.
  • The rate that determines the premium remains the same until the next margin revision when the age group changes.
Termination of insurance Insurance is terminated at the earliest of the following dates:
  • The borrower reaches the age of 70.
  • The line of credit or the premium is in default on two payments.
  • The insurer pays a death claim for the line of credit.
  • The insurance is cancelled voluntarily by the insured. The line of credit is closed or refinanced
Accidental dismemberment insurance This coverage is included with your life insurance. Refer to the certificate of insurance for benefits paid. They vary from 33 to 100% of your line of credit balance.

For more information on our insurance products and all the details details, please see the insurance certificate.

Summary

This product is suited to you if:

  • You do not want to deplete your savings or those of your beneficiaries in the event of your death.
  • You want your line of credit to be settled when you pass away.



Legal notice

1. Issued by Industrial Alliance, Insurance and Financial Services Inc. Some conditions apply. For more details, refer to the summary of insurance and the insurance certificate available at branches or online at laurentianbank.ca.

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