THE BENEFITS

Benefit payments are tax-free, paid directly to the lender and never have to be repaid.

The insured balance owing at the date of death is paid to the creditor. This provides your family with an asset as opposed to a liability.

Disability benefit payments will be forwarded monthly, directly to the creditor for each day of Total Disability and will be paid until you are able to return to work, are no longer totally disabled, or your insured indebtedness is paid out in full (whichever occurs first). Unlike WCB Benefits, coverage is in place 24hrs a day, 365 days a year.

Creditor Insurance pays over and above any additional insurance.

Premiums are calculated based on your financial amount...NOT your age.

No medical exam required. Enrollment is voluntary and made available at the time of your loan or leasing agreement commences, so premiums can be included in financing as an easy payment option.

Plans are available to both the customer and the co-signer.

DISABILITY INSURANCE

1 in 6 Canadians will be disabled for 3 months or longer before the age of 50.

If a disability lasts for 6 months or longer, on average, the person will be disabled for up to 5 years. Over 85% of disabling accidents and illnesses do not happen in the workplace. 66% of surveyed wage earners personally know someone who has been disabled and unable to work for 3 months or longer.

Disability Insurance is as important and certainly more important for younger families who are in today's world faced with higher payments than ever before. Protect yourself against the circumstances of being off work because of injury, work related or otherwise. The cost on this is more because of the greater chance of something occurring.

Now there are choices with this type of insurance that our Finance Manager will go over with you once you have made your vehicle purchase decision.

There are seven, ten, and thirty day retroactive options. If you are comfortable being off work for 30 days and make your own payment then this the most cost effective option. If your budget is tighter....7 day retro may be the one for you. Again our Business Manager will explain all options fully. In the case of the 30 day program, you would need to be off work for 30+ to qualify.

If you consider that your mortgage...no doubt... is protected. Why shouldn't your vehicle loan be? When vehicles were worth $5,000 perhaps loan protection was not as important. Today, vehicles are worth much more and protecting that loan just makes sense. We never think we will come across death, an accident, or being off work; but it can and does happen. It is nice to have one less worry when you take on your new vehicle loan and know that that for just a few dollars a payment....rest assured your family will have it's transportation should anything happen. Protecting your investment is simply smart.

Contact our Finance Manager for more information. He will provide all options and show you the best options for your situation.

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