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Loan Insurance - Versatile Line of Credit

Who should get this insurance?

Loan Insurance - Versatile Line of Credit is the portion of Loan Insurance that applies specifically to your Versatile Line of Credit. It is ideal to help protect your ability to repay your Versatile Line of Credit in the event of death or disability. Getting it is easy: in most cases, you simply have to answer a few questions at the time you take out your Versatile Line of Credit.

Find out more about eligibility.

Features

Coverage
Includes:
  • Life insurance to ensure repayment of the Versatile Line of Credit and related loans in the event of death.
  • Disability insurance to help you meet your financial obligations on your Versatile Line of Credit in the event of disability or illness.

Find out more about the coverage
Comprehensive
  • It covers the amount borrowed against your Versatile Line of Credit and in related loans.
  • It provides an additional benefit in the event of disability to help you meet the expenses of maintaining your property (municipal and school taxes, hydro, heating, etc.)
Simple and flexible
  • Insurance selected automatically applies to new amounts borrowed and can be tailored to the needs of each participant.
  • Proof of good health must be provided only once. There is no need to go to the caisse to insure new amounts borrowed against the Versatile Line of Credit.
Coverage amount adjustment
Coverage amount is automatically adjusted according to the amount borrowed. You therefore benefit from coverage that is proportional to the amount at risk.
Premium
Insurance premium included in payments is automatically adjusted according to the amount borrowed. You therefore pay a fair premium based on borrowed amounts only.

How are premiums calculated?
Benefits
  • Benefits are paid for as long as total disability persists or until the debt is completely repaid.
  • Benefits paid are not taxable or deductible from other amounts paid from public or private plans.

Making a claim
Access to assistance services
Access to some GPS Program assistance services:

Find out more


How to get this product
At the caisse At the caisse
Make an appointment with a caisse advisor:

Loan Insurance is a Desjardins Financial Security Life Assurance Company product.

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