Business line of credit insurance
This flexible insurance protects your business line of credit in the event of death or disability.
Call us to apply for line of credit insurance or to get more information.
1-877-338-8928 Phone number for business line of credit insurance. This link opens your phone app.
Coverages offered
Life insurance
In the event of death, this coverage pays off the amount you’ve insured on your line of credit of $10,000 or more. Any amount that’s left over will be deposited into your company’s account.
Disability insurance
If you become disabled, this coverage makes monthly payments on your line of credit while you’re disabled, for a maximum of 60 months. The monthly payments are based on the insurance amount you chose. Any amount that’s left over will be deposited into your company’s account.
Benefits are tax-free and not affected by benefits paid by other private or public plans.
Eligibility
To take out line of credit insurance, you must:
- Be a Canadian resident
- Be a director, officer, owner or guarantor of the business
- For life insurance coverage, be 69 or under
- For disability insurance coverage, be 64 or under and also have life insurance coverage
Cost
Premiums vary based on:
- The insured amount
- The coverage you choose
- The number of people being insured, their age and sex and whether or not they smoke
The monthly premium is automatically withdrawn from your account.
Assistance services
Need help? Get telephone assistance services by calling 1-877-477-3033 Phone number for psychological, legal or autonomy assistance. This link opens your phone app..
Psychological assistance
Benefit from a set number of confidential sessions with a mental health professional to help you during difficult times.
Legal assistance
Discuss with a lawyer or notary to get information on your rights and obligations and see what recourses are available to you in case of legal trouble. These professionals can also help you with liquidating a succession.
Autonomy assistance
Get recommendations and help with coordinating housekeeping and daily living services in case you experience a loss of autonomy. Your caregivers also have access to this resource.
Convalescence assistance
Get help from a team of medical experts and assistance coordinators to find the information and providers you need to recover from an illness, accident or surgery.
Get line of credit insurance for your business
Explore our other business insurance options
Life insurance
Minimize the financial impact of your death on your business and loved ones. See our term and permanent life insurance coverage options.
Health and disability insurance
Protect your income in case of an illness or injury. See our joint coverage options for you and your business.