Creditor insurance

Protect your finances from uncertainty

When life brings an unforeseen event like an accident, disability or unemployment, the last thing you want to worry about is your financial obligations.

Creditor protection on a mortgage, loan, line of credit or credit card provides you with peace of mind of knowing that your investments will be protected and financial debts won’t be a burden during difficult times.

It’s a smart way to make sure you and your family have the financial security you need.

Type of products and coverage options vary by lender and province. In the event of a claim, benefits are paid directly to your lending institution. Speak with your lender for more information.

Mortgage & loan insurance

If you die or become disabled and are unable to work, creditor insurance on your mortgage, loan or line of credit, can help reduce or pay off your financial obligations.

Life insurance

Creditor life insurance pays off or reduces the balance of your mortgage or loan. It provides peace of mind and financial security for your family in the event you pass away expectantly.

Disability insurance

Covers the payments on your mortgage if you are unable to work due to an illness or injury.

Critical illness insurance

In the event of a covered critical illness, the lump sum payment may help reduce or pay off your outstanding mortgage or loan, freeing up money you can use to support your recovery. This type of insurance is available as a rider on creditor life products.

Credit card balance protection

Credit card balance protection is a comprehensive product that provides multiple levels of protection in the event of death, disability, job loss, hospitalization, unemployment or critical illness.

This type of protection will pay off or make monthly payments on your outstanding balance when you can’t.

How do I purchase creditor insurance?

Canadian Premier products can be purchased through your bank, credit union, finance company or other affiliated association.

Why creditor insurance?

Affordable

For just a few dollars a month, you can protect yourself and your family from the worry of making payments should something happen to you.

Convenient

You can apply for creditor insurance any time you borrow, and premiums are easy to pay. In some cases, premiums are financed within your loan. In the event of a claim, benefits are paid directly to your institution.

Peace of mind

Rest easy knowing that if the unforeseen happens, you can ease the financial burden on your loved ones. It’s a smart way to make sure you and your family are protected.