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 Involved in Desjardins Line of Credit Insurance
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.