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Loan Protection Program
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Provide a peace of mind for you and your family by enrolling in Loans Canada Loan Protection Program. We offer loan protection insurance so that you can safeguard your credit, personal assets, and family against unexpected loan non-payment liabilities due to job loss, critical illness, disability, or accidental death.
We cover your monthly loan payments, up to 12 months, if you lose your job involuntarily.
Job Loss
We cover your monthly loan payments, up to 12 months, if you become disabled.
Disability
We cover your outstanding loan balance for up to $30,000 if you get diagnosed of a critical illness
Critical Illness
We cover your outstanding loan balance for up to $30,000 from accidental death or dismemberment
Death and Dismemberment
Why Loan Protection?
Loan protection plan, also called creditor insurance, can help cover some or all of your loan payments in the event of an illness, disability, involuntary job loss or death. Insurance premiums are spread out over your loan payments, making it an affordable and manageable option. Loan insurance provides peace of mind for you and your family, and it offers security should you experience an unexpected event or reduction in your income. Detailed Certificate of Insurance can be found here.
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Coverage of Loans Canada Protection Program:
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Involuntary Job Loss
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Critical Illness Coverage
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Disability Coverage
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Accidental Death, and
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Up to $30,000 Loan Balance