Credit Protection – Protecting the needs of our borrowing members

We are pleased to offer the following products to our members:

Coverage for Personal Loans

• No medical
• Age/occupation/gender/smoking status does not affect the rates
• Premium included in loan payment
• Pre-existing conditions are covered except for the first 6 months of the loan

Life Insurance

If you should die during the loan period, the coverage pays off the loan so that your family will not be burdened with the debt.

• Members between 16 – 64 are eligible to purchase
• Coverage terminates at age 69
• Limits up to $50,000 per loan

Sickness & Accident Protection

If you are off work for a covered sickness or accident, your loan payments will be made for you so that you can concentrate on getting well.

• Eligibility: Members between 16-64 and working 20 hours per week before the loan date
• Coverage terminates at age 70
• Maximum monthly benefit - $1,500

Coverage for Mortgages, Large Loans (farm machinery, commercial loans)

Life Insurance

With all the financial pressures your family may face in the event of untimely death, mortgage life insurance can relieve much of that pressure – your family can live mortgage free.

• Members between age 16-64 are eligible
• Coverage ends at age 70
• Limits up to mortgage balance – maximum of $500,000
• Premiums are paid monthly through pre-authorized chequing and remain the same through the term of the mortgage 

Line of Credit Coverage

You have a Line of Credit for when you need to borrow, so why not pay for insurance only when you need it.  Line of Credit Life and Disability protection premiums are only charged when you are using your Line of Credit, and are based on the amount outstanding.

• Members between 16 – 65 are eligible to purchase
• Disability coverage to age 65, Life coverage to age 70
• No medical for coverage under $50,000
• Limits available up to $500,000 (more if required)

Did you Know.......

• In 1 year – 1 in 36 people will die. You are 14 times more likely to die than lose your home to a fire.
• At age 45, there is a 40% chance of being disabled longer than 90 days and average length of disability is 3.2 years.
• 1 in 2 men and 1 in 3 women will suffer a heart attack, stroke or life threatening cancer. The average claimant over the past 3 years is 41.

Please contact our friendly and experienced lenders for more information or contact us online to get started on your loan application right away.