Loan Insurance

You can count on Loan Insurance!

  • Coverage for loans in the event of death or disability
  • Basic financial support in the event of a cancer diagnosis
  • Premium payments included in the instalment payments
  • Benefits paid for the entire duration of the total disability
  • Insurance premium based on the loan balance
  • No exclusions regarding the type of work

An exclusive advantage for Desjardins members

Financial support in the event of a cancer diagnosis

Desjardins Loan Insurance includes a cancer diagnosis benefit as part of its core coverage. This lump-sum benefit can equal up to 6 monthly instalments.


With Loan Insurance, you get:

  • Coverage that allows you to make your business loan payments in the event of death, a cancer diagnosis and disability
  • A choice of 2 coverages:
    • Life insurance (coverage in case of death or a cancer diagnosis)
    • Disability insurance (coverage in case of accident or illness)
  • Coverage that's offered to eligible company members, regardless of the size or type of business or industry
  • Provides free access to certain telephone assistance services:
    • Psychological Assistance
    • Convalescence Assistance - case management
    • Legal Assistance
  • Persons eligible:
    • Borrowers, their spouses or guarantors
    • Members, shareholders, directors, owners of the borrowing corporate body or their spouses, or guarantors of this corporate body
  • Life insurance: must be under age 70
  • Disability insurance: must be under age 65 and already enrolled in life insurance

Eligibility is determined on the basis of a few questions asked when applying for the loan. Depending on the answers, an insurability report may need to be submitted.

Life insurance

  • In the event of death, the insured balance of the loan is paid off, up to a maximum of $10,000,0001 per participant
  • In the event of a cancer diagnosis or recurrence2 that occurs on or after November 1, 2012, a lump sum equal to 6 monthly loan payments (or 3 monthly loan payments if age 55 or older) multiplied by the life insurance percentage is paid

    Maximum of $45,000 per participant ($22,500 if age 55 or older)

Disability insurance

In the event of total disability, the insured portion of the instalment payments is paid off, up to a maximum of $7,5001 per month, per participant

See an example.

1. For all Loan Insurance or Line of Credit Insurance policies issued by the insurer.

2. Cancer recurrence: a cancer diagnosis occurring more than 60 months after treatment for a previous cancer diagnosis has ended.

  • Premiums are calculated based on the:
    • loan balance
    • coverages selected
    • insured loan percentage selected
    • number of insureds, their age and sex
    • loan amount and amortization period
    • smoking habits
  • By taking out Loan Insurance, you agree to a higher interest rate on your loan. The interest rate on your loan therefore consists of 2 rates combined: the basic interest rate charged by your financial institution plus an additional interest rate for the insurance.

    This makes it possible to calculate the instalment premium based on the loan balance owing. Generally, the premium decreases as the loan balance decreases, since it automatically reflects the principal payments made. As a result, you pay a fair premium for the real risk that your loan represents.

  • "Double coverage" advantage
    You can get a discount on your life insurance if you enrol in life insurance plus disability insurance


To learn more about Loan Insurance, check out the Participant's Guide (PDF, 2.1 MB) - This link will open in a new window.. It contains everything you need to know about the product, including conditions, terms, exclusions and restrictions.

Exclusions and restrictions

Some exclusions and restrictions apply. For a complete list, see the Loan Insurance Participant's Guide (PDF, 2.1 MB) - This link will open in a new window. or visit your caisse or Desjardins Business centre to consult the insurance policy.

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


Getting a loan for your business and taking out Loan Insurance? Here's an example of some of the coverages available to you.


You take out an $80,000 loan with $1,000 monthly instalment payments. You decide to insure the full amount of the loan and payments in the event of death or disability.

If you die, Desjardins Insurance will repay the balance of your loan.

If you become totally disabled, Desjardins Insurance will make the $1,000 monthly payment for the duration of your disability.

Benefits are generally not taxable or reduced by any amounts received from other private or public plans.