FOR THE ABILITY TO PAY YOUR DEBTS IN CASE OF DISABILITY
What is Loan Disability Insurance?
Loan disability insurance is a form of insurance policy intended to assist borrowers in meeting their loan payments if they become disabled and unable to work. It is frequently an optional addition to credit facilities such as personal loans and car loans. If the borrower becomes disabled and cannot work, the policy will generally cover their loan payments for a specified time period by making payments on their behalf. The duration and amount of these payments are subject to the specific conditions of the insurance policy.
Loan disability insurance can offer peace of mind for borrowers concerned about their ability to fulfill their loan obligations if they become disabled, but it is essential to examine the policy’s terms carefully to ensure that it meets their needs and provides sufficient coverage.
Coverage & Policies
See all the different ways Alico can help protect your home.
You can choose a monthly payment that matches your total recurring loan payments or less, as per your requirement. Once you submit the financial documentation for loans with payments equal to or exceeding the chosen amount, SOLO Loan Insurance will provide you with a tax-free sum in case of disability. This applies to all loan types obtained from authorized financial institutions in Canada, whether personal or business loans.
Mortgage and mortgage line of credit, including multi-dwelling
Line of credit
RRSP loan or any other investment financing (leverage loan)
Car/motor home/boat/motorbike loan or long-term lease
Credit card
Business loan
Personal/student/renovation loan
All other fixed-term loans with regular payments (with or without minimum capital payments)
Rent also eligible
Home
Vehicles
Life
Business
Compare quotes and get life insurance in right way
Get an Insurance Quote
Reliable. Personable. Fast.
Start a fast, free auto insurance quote with Alico. We help you find any insurance coverages that are right for you, so you’re not paying for anything you don’t want!
Get a insurance quote – typically in 2 minutes or less. Switch to Alico for an insurance policy from a brand you can trust.