The Loan Protection Plan is an optional creditor protection insurance coverage that can be purchased by a borrower. In the event of injury, sickness, involuntary unemployment, critical illness or death, the Loan Protection Plan may cover the loan payments and/or the outstanding principal balance of your loan.
All benefits are paid to the lender to reduce or eliminate your obligations under your loan agreement. The optional Loan Protection Plan is a Credit Group Insurance Plan underwritten by Canadian Premier Life Insurance Company. Click here for more information.