Credit Insurance

A multi-purpose solution for insuring your clients' loans

Whether it's to insure a mortgage loan, line of credit or other type of loan, combine disability credit insurance and critical illness insurance with Term Plus insurance. You'll be giving your clients a comprehensive insurance solution that is tailored to their needs.

Coverage options

SSQ Financial Group offers a credit insurance solution that covers the following three risks:

  • Term Plus life insurance in the event of premature death
  • Credit disability insurance
  • Critical illness insurance

Term Plus Life Insurance

  • Choice of coverage for 10, 15, 20, 25, 30 or 35 years
  • Guaranteed premiums
  • Level or decreasing insurance amount to 50% of the initial amount
  • Renewable every 5 years, up to age 85, without evidence of insurability
  • Convertible to permanent life insurance up to age 70, without evidence of insurability
  • Insurance amount may be increased under the guaranteed insurability benefit
  • Individual, joint and multi-life coverage available
  • Proof of loan is not required at time of purchase

Credit Disability Insurance

Eligibility Requirements

  • Insureds must take out Term Plus life insurance
  • Insureds must work 21 hours or more per week for 8 months or more during the last 12 months

Eligible Loans

  • Mortgage loan or line of credit
  • Personal loan or personal line of credit
  • Car loan
  • Student loan
  • Business loan
  • Loan for investment purposes

Other Features

  • Amount insured per month: $300 up to 1.5% of the Term  Plus life insurance amount, without exceeding $3,500
  • Benefit period is 2 or 5 years or up to age 65
  • Waiting period of 90 days, retroactive to the 31st day or 30 days, if total disability results directly from an accident, a hospitalization of at least 72 hours or day surgery for benefit period of 2 and 5 years
  • Waiting period of 90 days for benefit period up to age 65
  • Insured amount can be increased without new evidence of insurability at the same time as the Term Plus life insurance amount
  • Proof of eligible loan required at time of claim

Critical Illness Insurance

Eligibility Requirements

  • Critical illness insurance must be requested at the same time as the Term Plus life insurance at time of purchase
  • Critical illness insurance is automatically granted without additional evidence of insurability, if Term Plus life insurance is approved at the standard rate and without any exclusions

Illnesses Covered

  • Cancer
  • Heart attack
  • Stroke

$20,000 lump sum benefit with 30-day survival period

Assistance Services

Your client will benefit form the following assistance services when the disability or critical illness rider is added to the contract:

  • Second medical opinion
  • Medical referral
  • Administrative services, such as analysis of receipts for medical fees paid
  • Assistance with hospital admissions and accommodation assistance outside the province or country
  • Psychological assistance
  • Medical assistance
  • Convalescence assistance
  • Concierge services
  • Legal assistance

Complementary Insurance

Your clients may add other insurance products to their credit insurance contract to complete their coverage:

Learn More

Contact us

Quebec 1-888-292-8483 sales.insinv.qc@ssq.ca
Ontario, Western and Atlantic Canada 1-888-429-2543 sales.insinv@ssq.ca