Optional Loan Protection Plan

The Loan Protection Plan is optional credit protection insurance that can be purchased by a borrower.

Injury/Sickness

(Where you were hospitalized for 10 consecutive business days)

Benefit

Payments made for up to 6 months while you are unable to work due to injury or sickness (not to exceed your remaining outstanding balance)

Plus: if you are still unable to work after 6 months we will make an additional payment equal to the lesser of your remaining balance or $2000. (subject to a maximum potential total benefit $4000)

Involuntary Unemployment*

Layoff without cause (If you have been employed for at least
90 days and are eligible for EI benefits)

Benefit

Payments made for up to 6 months while you are unable to work due to injury or sickness (not to exceed your remaining outstanding balance)

Plus: if you are still unable to work after 6 months we will make an additional payment equal to the lesser of your remaining balance or $2000. (subject to a maximum potential total benefit $4000)

48-72 HOUR CLAIM RESPONSE – OPTIONAL AND NOT A CONDITION OF FINANCING
PROVIDES PEACE OF MIND – 30 DAY FREE LOOK CANCELATION AT ANY TIME

Coverage provided by Canadian Premier Life Insurance Company©.

Disclaimer: NO INSURANCE COVERAGE IS PROVIDED WITH THIS SUMMARY DOCUMENT. This is a summary of the Optional Loan Protection Plan for informational purposes only. If you choose to apply for insurance and are approved, a Certificate of Insurance will be provided to you confirming the terms and conditions of the insurance. No insurance is in force until such time as you apply for the insurance, and receive a Certificate of Insurance and the lender advances funds to you.

*Limitations and exclusions apply for all coverage types. Please refer to Certificate of Insurance for complete details

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