We will be closed on May 20th and will return to our regular hours on May 21st, 2024. Happy Victoria Day! Learn More

We will be closed on May 20th and will return to our regular hours on May 21st, 2024. Happy Victoria Day! Learn More

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Loan Repayment Insurance


Total protection against financial breakdown
Whether your vehicle is new or pre-owned, you're going to enjoy it for a very long time. You've chosen wisely and budgeted carefully, but the one option you shouldn't overlook is loan repayment insurance. It's an option that will protect your investment in case of a financial breakdown.

Unfortunately, when something unexpected happens to you such as unemployment, disability, critical illness, or even death, finance or lease payments for your vehicle still need to be made. You or your family may consider selling your vehicle, but you will most likely still have to make up the deficiency. If you or your family still need the vehicle, keeping up with the monthly payments could be a major hardship. Protecting your investment, by insuring your monthly loan payments, is a sound choice. For more than 45 years, we've been offering Canadians flexible, competitively priced insurance options. And through our group buying power, you can protect your vehicle investment and feel safe and secure about your financial commitments, for just pennies a day.

The power of protection:

There are those who feel that even at a low price, loan repayment is an unnecessary "luxury". The "it could never happen to me" attitude is understandable when your health is good and you're in the prime of life. Nevertheless, the statistics on disability and death cannot be ignored.

Reducing the impact on your family

The best way to achieve peace of mind is to plan ahead. So it's good to know that the insurance coverage you choose will reduce the financial impact on your loved ones if anything should happen to you:

If you were to suffer a fatal injury or illness or become accidentally dismembered, life coverage will pay off the insured portion of your loan.

If you are diagnosed with a covered condition, critical illness coverage provides a lump sum payment that will pay off the insured portion of your loan. 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 well.

If you become totally disable through illness or as a result of injury, "Accident and Sickness" disability coverage will take care of your loan payments.

If you become totally disabled as a result of injury, or become unemployed involuntarily, the "Accidental Plus" coverage will cover up the equivalent of six insured monthly payments per incident for the duration of your coverage term.

  • Of all loans that become delinquent in Canada, 3% are due to the unexpected death of the main household income earner, and 50% are due to loss of income related to a disabling accident or illness.
  • Canadians between the ages of 20 & 65 have a 50% chance of having disability that lasts longer than 3 months
  • 55% of working adult Canadians have no disability coverage
  • Accidents are the leading cause of death for Canadians 45 years of age and under
  • 1 in 3 Canadians will be diagnosed with cancer in their lifetime

Sources: Statistics Canada, I.C.B.C., Canadian Cancer Society

Options, features and benefits

  • Provides affordable peace of mind for you and your family
  • Insurance coverage that makes your liability an asset
  • Cost of coverage is the same for all ages or occupations
  • Benefits are non-taxable and paid in addition to your other insurance benefits
  • Payments made on your behalf do not have to be repaid
  • Helps to protect your credit rating and savings
  • Higher insurance coverage limits allow covering multiple investments
  • Critical illness coverage provides Living Life benefits, and allows for full recovery


  • Life insurance includes accidental dismemberment benefit
  • Critical Illness Insurance includes six covered conditions:
    Life-threatening cancer
    Heart attack
    Coronary artery bypass surgery
    Major organ failure requiring transplant
  • Accident & Sickness Disability Insurance includes hospitalization benefit
  • Accident Plus Disability Insurance includes:
    Accidental Disability
    Involuntary Unemployment