When life brings an unforeseen event like an accident, disability, illness or unemployment, the last thing you want to worry about are your financial obligations. Creditor protection provides you with peace of mind knowing that you’ll be protected, and financial debts won’t be a burden during difficult times.
What is creditor protection?
- Optional financial product available through your financial institution
- Helps pay your mortgage, loan, line of credit or credit card if the unthinkable happens
- Allows you to choose from a variety of coverage options that fit your individual needs
- Offers coverage for you and your co-borrower(s), if applicable
- Depending on your loan type, premium can be paid with one single payment upfront at the time you take out the loan, paid monthly or, built into your loan payments