Creditor Group Insurance

With Creditor Group Insurance, you can rest assured that the insurance coverage you choose will reduce the financial impact on you and your loved ones if anything should happen to you. The Companion line of creditor programs are underwritten by Industrial Alliance Insurance and Financial Services Inc ("Industrial Alliance").

Life insurance will pay off the insured portion of the loan to the financial institution upon death. In such unforeseen cases, the Life coverage relieves the Insured’s family from the burden of the loan and allows them to keep the vehicle!

Critical Illness insurance provides a lump sum payment that will pay off the insured portion of your loan to the financial institution, if diagnosed with a critical illness. A ‘Living Life’ benefit, critical illness insurance is designed to eliminate the financial strain of a vehicle loan, giving you the freedom to focus on getting better.

If you were to become unable to work due to an illness or as a result of an injury, the Accident & Sickness coverage will take care of your monthly loan payments to the financial institution during the eligible period so that you can focus on getting better without the worry of the monthly loan payments on reduced income.

If you were to lose your job involuntarily, such as in case of a layoff, the Involuntary Unemployment coverage will cover your monthly loan payments while you are collecting Employment Insurance (EI). You can then, focus on finding another job without the worry of the monthly loan payments on reduced income.

Balance shortfall insurance helps protect you and your family by covering the difference (in full or in part) between the amount you owe to the financial institution and the value of your vehicle in the event of death, critical illness, disability or loss of employment.