Disability and Income Replacement Insurance
Universal Loan Insurance

Product description and features

Universal Loan Insurance offers unique comprehensive coverage in case of disability, for all loans taken out with a financial institution. We cover the insured’s debts by paying all monthly loan payments in case of disability resulting from an illness or an accident.

Eligible loans:

  • Mortgage loans; rent; auto, boat or motorcycle loans; lines of credit; personal loans; credit cards; and all regular fixed-term payments.

Universal Loan Insurance pays $300 to $10,000 per month to cover an insured’s financial obligations when on disability leave.
Available in Assure&go


  • Additional benefits, free of charge:
    • Gradual return to work
    • Maintenance of coverage when full-time work ceases
    • Waiver of premiums
    • Reinstatement of benefits with short declaration of health
    • Recurrent disability
    • Loan to loan transfer
    • Extension at age 65
  • Guaranteed renewable contract
  • Anyone who has a loan
  • Renters
  • Workers 18 to 59 inclusively, Canadian citizens and residents. Must meet certain selection criteria.

Optional coverage:

  • Expanded definition for seasonal or contractual workers
  • Partial disability
  • Extension of the "regular occupation" period
  • Return of premiums
  • Coverage for a spouse without remunerative work
Riders:
  • Accidental death, dismemberment or loss of use
  • Accidental fracture
  • Extended medical care further to an accident



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