A versatile line of credit is an interesting way to finance your project by borrowing about 80% of the value of your home. But what happens if an ailment like cancer, disability or death prevents you from repaying the loan? You might lose your property in the process. To prevent such risk, you need to insure your versatile line of credit; this is why Desjardins versatile line of credit insurance is provided for you.
Desjardins provides an effective and easy-to-enroll versatile line of credit insurance plan. To make it even easier, there is no middleman in this plan and the plan even covers linked loans. In addition, you can either choose the life insurance or the disability insurance option. These options will determine the features you will obtain in the insurance policy.
Why Desjardins Loan Insurance – Versatile Line of Credit Is the Best for You
The benefit for this plan can only be paid to the borrower, spouse or guarantor. The insured must be below 65 and 70 for the disability and life insurance options respectively. You will be asked a few questions before applying for this plan and the answers you give will determine if you are eligible or not.