This could be the right option for you if:

  • You have an outstanding balance on your personal line of credit or personal loan
  • The combined total of your approved personal line of credit and personal loan does not exceed $100,000
  • You’re a Canadian resident between age 18 and under 65
  • You’re actively employed at least 25 hours/week (for Job Loss you have to be continuously employed for 6 months immediately prior to your application)


If you are eligible to apply, you will be automatically approved for the insurance coverage with no medical examination required at the time of application.

Both you and your co-borrower may apply.

There is a 30-day review period: if you cancel the coverage within 30 days of receiving your Certificate of Insurance, any premiums that you have paid will be refunded and the insurance deemed never to have been in force

You can take advantage of a convenient premium payment:

  • Personal lines of credit: insurance premium is debited from your borrowing account.
  • Personal loans: insurance premium can be added to your regular scheduled payment.