Line of Credit Insurance

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The Line of Credit Protection Perfect for You

A line of credit is a powerful investment option that can be used to finance a number of projects. However, it may become really difficult to pay back your borrowed fund if you become ill, disabled or die. This is why you need an adequate line of credit insurance to protect you. Desjardins line of credit insurance has mouthwatering features that will offer you the sufficient protection you need.
This insurance plan is designed to meet your needs in every aspect.
Besides, it is very easy to enroll in this plan, you can simply do so at the Caisse; you don’t even need a middleman to enroll. In addition, the insured is guaranteed to receive his benefit no matter the balance of credit on the line of credit.

Features and Benefits

Desjardins line of credit insurance has two plan options, life, and disability insurance. The life insurance option pays off the benefit (minimum of $10,000 and maximum of $10,000,000) in the event the insured’s death. For the disability insurance option, the monthly amount indicated in the insurance application will be paid to the insured in the event of disability. The maximum for this benefit is $7,500 for each month.

  • It is very easy to enroll in the plan. There is absolutely no need for a middleman.
  • The coverage includes two options, life insurance, and disability insurance. These options determine the features included in the policy.
  • The life insurance option covers the insured in the event he is diagnosed with cancer or in the event of death.
  • With the disability insurance option, the insured would be covered if he falls sick or involves in an accident.
  • The insured has free access to some telephone assistance services such as psychological assistance, legal assistance, and convalescence assistance – case management.
  • The plan also includes non-taxable benefits that are not reduced by any amount.
  • To choose the life insurance option, you must be under 70 and for disability insurance option, you must be under 65.
  • The insurance premium is calculated on the basis of the coverage selected, smoking habits, number of insureds, sex, and ages of the insureds, loan percentage selected by the insured, the linked loan amortization period (for disability insurance option).
  • You also have the option to enroll for life insurance as well as the disability insurance. This is known as the double coverage advantage. This qualifies you for a discount on life insurance.

 

 

Additional resources

Learn more about your other financial options from these informative articles.

Insurdinary provides a comprehensive quotes comparison sends straight to your inbox so you can start comparing health coverage in minutes. See plans from several major Canadian insurers to choose the right option for you. Our customer health specialists are also available to address your questions and concerns.

For more information, you may contact us at 1-877-574-7475, or complete the form below.

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