Loan Protection

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If you were unable to work and earn an income, would you be able to afford your mortgage payments? How would you be able to repay your other loans? Studies show that 50% of bankruptcies and mortgage foreclosures are caused by a disability.
Our loan protection program will repay your loans if you are unable to work because of an illness or an accident. The loan protector is not granted on specific loans because the coverage can be transferred from one loan to another. This means that all your loans are covered under a single contract and that financial evidence of loans or other eligible monthly liabilities will be requested only at the time of a claim.
Eligible loans consist of the following:

  • Mortgage loans and home equity lines of credit with repayment of principal
    • Protection covering up to 125% of the monthly mortgage payment on your principal
      residence so you can pay your mortgage and fixed costs (taxes, utilities etc.)
    • Protection covering up to $3,000/month for loan payments covering rental income properties
  • Home equity lines of credit without repayment of principal
  • Other lines of credit
  • Other loans from any financial institutions authorized to do business in Canada
    • RRSP loans or any other investment loans
    • Renovation loans
    • Personal loans
    • Loans or long-term leasing for cars/motor homes/boats/motor bikes
    • Student loans
    • Credit cards

This coverage is flexible because it takes into account that your debts may change over the years.  Along with our new partner on board, Financial Solutions Link, we are able to conduct a full analysis of each financial situation and provide solutions for your specific needs, whether you are a small business owner, or a family.

Questions?  Call us at 1.855.294.5465 and book your free consultation!