LOAN PROTECTION PLAN
Here to help cover your payments if the unexpected happens.
Less Worry, More Coverage
Rest Assured
Help protect you, your family, and credit rating.
Easy Enrollment
Enrollment is as simple as checking a box in your application.
Quick Claims
Most claim decisions are made within 72 hours based on the completed claims package being received by the insurer.
Loan Protection Coverage *
When you enroll in the optional Loan Protection Plan, your loan payments and/or outstanding loan balance may be covered if you experience lifetime milestones or unexpected changes.
Involuntary Unemployment
If you are laid off without cause.
Benefit: Payments may be made for up to 6 months.
Plus: If you are still unemployed after 6 months, an additional lump sum payment may be made equal to the remaining balance to a maximum of $2,000. (Maximum potential total benefit $4,000.)
Injury or Sickness
In the event that you sustain an injury or illness that prevents you from working for ten consecutive business days or longer.
Benefit: Payments may be made for up to 6 months.
Plus: If you are still unemployed after 6 months, an additional lump sum payment may be made equal to the remaining balance to a maximum of $2,000. (Maximum potential total benefit $4,000.)
Critical Illness
In the event that you are diagnosed with life-threatening cancer, suffer a stroke, heart attack, kidney failure or a major organ transplant for the first time in your life.
Benefit: 100% payment.
Your outstanding principal balance on date of critical illness. (Maximum potential total benefit $15,000.)
Loss of Life
If you pass away.
Benefit: 100% payment.
Your outstanding principal balance on date of death. (Maximum potential total benefit $15,000.)
Lifetime Milestone Support
For occasions such as retirement from employment, purchase of a home, final payment of mortgage, birth or adoption of a child, marriage, graduation from post-secondary education, first job after graduation, or attending an apprentice program training.
Benefit: Payments may be made for 3 months. (Maximum potential benefit $2,000.)
Unpaid Family Leave Support
If you have an unpaid leave of absence from your employment for more than 14 days, approved by your employer, to provide care or support to you spouse, child, or parent with a serious health condition
Benefit: Payments may be made for 3 months. (Maximum potential benefit $2,000.)
*See Summary of Coverage and Certificate of Insurance for full coverage details including exclusions. The optional protection plan is a group credit insurance program underwritten by Canadian Premier Life Insurance Company and Canadian Premier General Insurance Company.
Protected from the Unexpected
Cash Money could help weather a financial storm by offering Lines of Credit with an optional Loan Protection Plan*, so you can continue to meet your financial obligations if you experience lifetime milestones or unexpected changes. Alleviate your worries and borrow with reassurance by signing up for personal loan insurance under the optional Loan Protection Plan.
Apply for a Loan*The optional Loan Protection Plan is a Credit Group Insurance Plan Underwritten by Canadian Premier Life Insurance Company and Canadian Premier General Insurance Company.
Get Your Answers from Cash Money
Cash Money is dedicated to providing the information you need to make an informed decision. Whether you have questions about the application process or how our loans work, we have answers for you.