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Credit Balance Insurance - Business

A solution designed to meet your needs

  • Covers the current balance on your business account
  • No medical questionnaire when you enrol
  • Cost is based on your account balance
  • Cash advances by equal instalments (Accord D) are covered at no charge in the event of death, disability or an initial critical illness diagnosis
  • Free assistance services

Features

Credit Balance Insurance - Business:

To be eligible, you must meet the following 4 conditions:

  • own a business
  • have a Desjardins credit card account
  • be between the ages of 18 and 64 inclusive
  • be actively working at least 25 hours a week in your company

In order to be eligible for the life, disability and critical illness insurance included at no charge, the credit account must include a cash advance by equal instalments.

Health questions

You don't need to answer any health-related questions. However, benefits may be limited because of pre-existing illnesses or injuries.

Credit Balance Insurance - Business includes the following 4 types of coverage:

  • Death
  • Dismemberment
  • Disability
  • Critical illness

In the event of death, dismemberment, disability or first diagnosis of a critical illness, the insurer will pay off the balance on your credit account, up to a maximum amount, including transactions made before this event that do not appear on this statement.

The credit account statement in question is the one that is issued:

  • just before the date of the event entitling you to a benefit
  • on the date of the event

Certain conditions apply. See Notices.

Each month, an insurance premium equal to $0.25 per $100 (plus provincial taxes)3 of the insured balance of your credit account is withdrawn from your credit account.

All cash advances by equal instalments (Accord D) are automatically covered at no charge in the event of death or an initial critical illness diagnosis (cancer, heart attack, stroke or terminal illness).

Premium holiday

Insureds receiving disability benefits are entitled to a refund of a portion of their monthly premium.

3. Desjardins Financial Security reserves the right to change the rates appearing on this web page without notice.

1. Critical illness means cancer, heart attack, stroke or a terminal illness diagnosed by a physician.

2. Certain conditions apply. See Notices.

Guide

To learn more about Credit Balance Insurance - Business, check out the Distribution Guide (PDF, 607 KB) - This link will open in a new window. . It contains everything you need to know about the product, including exclusions, limitations and coverage reductions.

Exclusions, limitations and coverage reductions

Some exclusions, limitations and coverage reductions apply. For a complete list, see the Credit Balance Insurance - Business Distribution Guide (PDF, 607 KB) - This link will open in a new window. or the insurance policy. These documents are also available at your caisse or business centre.

Legal notice

The information appearing on this site summarizes the terms and conditions of this insurance and has no contractual value. It's intended to be clear and simple, so you can easily understand the product.

Only the policy and insurance application will be used to settle legal disputes. The insurance policy contains all the terms and conditions of this coverage.

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