Commercial Loan Insurance
Commercial loan insurance can help you protect your ability to meet your financial obligation in the event of your death or disability. You can enrol for commercial loan insurance directly through your participating lender at the same time you apply for a commercial business loan.
We offer comprehensive life and disability coverage. The details and benefits of coverage vary by lender and product. Benefits are paid directly to your lender.
- Life – If you die, the insurance can pay your outstanding balance, up to a pre-determined maximum.*
- Disability – If you become disabled, the insurance can pay your minimum monthly payment, up to a pre-determined monthly amount.*
Most often, acceptance is automatic on the date you apply and medical examination may not be required for enrolment. You can often add the premiums to your loan payments.
All benefits are subject to conditions that are fully described in the certificate of insurance that you receive when you enrol for the insurance.
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