Credit Balance Insurance - Individuals
Credit balance insurance
We've got you covered
- For Desjardins credit card purchases
- For your Accord D financing
- For installment plans
- For peace of mind
Why take out credit balance insurance?
To get help with your debt and protect your financial reputation if something terrible happens.
Our credit balance insurance comes with psychological, legal and convalescence assistance if you need it.
How does it work?
If you die, are dismembered or receive a first diagnosis of a critical illness, this insurance will help pay off your Desjardins credit card balance, up to $25,000.
If you become disabled or lose your job, Desjardins will pay you a monthly amount equal to 10% of the balance of the regular transactions on your account statement just before your disability or job loss. Some Accord D financing and Visa installment plans may also be covered for up to $750 per month under certain conditions.
Life insurance:
There are 4 types of coverage for regular transactions on your Desjardins credit card, including Visa installment and Accord D financing plans:
- Accidental death or loss of use of a body part
- Disability
- Job loss
- Critical illness
Details for Visa installment and Accord D financing plans:
- Obtained at a caisse: you'll receive financial assistance in the form of equal installments
- Obtained in-store: you'll receive financial assistance in the form of equal installments or your payments will be deferred
3 services included
- Psychological Assistance: confidential support from a psychological health specialist to help you through difficult times
- Legal Assistance: information about your rights and options to help you resolve legal problems
- Convalescence Assistance – Case Management: telephone assistance from a team of healthcare specialists and assistance coordinators while you recover
To be eligible for Credit Balance Insurance – Individuals, you need to be:
- a primary credit account holder
- between the ages of 18 and 64
You don't need to answer any questions about your health.
The premium varies based on your credit balance. No premium is charged if your balance is $0.
The cost of the insurance is $0.75 per $100 of the balance of your Desjardins credit card, including Visa installment and Accord D financing plans.
This variable premium is added to your credit card account every month.
- If you bought your insurance on or after September 30, 2020, see:
- If you bought your insurance before September 30, 2020, see:
To learn more about your coverage if you're diagnosed with a critical illness, refer to the Critical Illness Guide – Credit Balance Insurance – Individuals (PDF, 274 KB).
Legal notice
The information on this site is intended to help you understand the product by providing a simple, clear summary of the nature and conditions of the insurance. Only the policy and the insurance application will be used to settle legal disputes. Refer to the insurance policy for a full list of terms and conditions.
How to buy a policy
Call a representative today, answer a few questions and get this coverage for you and your family.
1-877-647-5245 This link will launch your default phone software.
Customer service
Claims
Online: File a claim External link.
By phone: 1-877-338-8928 This link will launch your default phone software.
At a caisse: Make an appointment with an advisor
Assistance services
For psychological, legal or convalescence assistance, call 1-877-477-3033 This link will launch your default phone software.