Loan Protection Insurance

When you buy a business, a house or a vehicle you take a loan or a line of credit. There are many kinds of loans available for various purposes that need to be repaid within a certain time frame. However sometimes due to some unavoidable circumstances we may miss paying our loan on time and don’t want to lose our property or business to creditors. This is where loan protection insurance comes to a rescue. Loan protection insurance helps you pay your loans and debts if you are diagnosed with a critical illness, become disabled or die. Loan protection insurance will pay your mortgage or business loans on your behalf so that your loved ones are not stuck with loans and debts should anything happen to you. Loan protection insurance will help you and your family financially during these tough times when no one else would or could help.

Loan Protection Insurance provides you financial security when you need it the most. Whether it is a home loan, car loan, or a personal loan, it is always advisable to opt for a protection insurance plan, as it will protect your monthly loan payments. A Loan Protection Insurance plan is an easy way to protect your credit. It helps you pay your monthly debts up to a certain amount in case you are unable to pay them due to illness or injury. It can help you pay off mortgage, car loan and credit card monthly payments and will help you maintain your credit score even during a financial crisis in order to ensure that your credit score is unaffected.

The COVID-19 global pandemic has been a wake-up call for many of us. This pandemic has taught us that life can be very uncertain and you never know what the future holds for you. Even before the pandemic hit, we all know that many Canadians were already living paycheque to paycheque and have no savings for emergencies. We all have mortgage payments, car lease payments and credit card bills to pay each month. No matter how well planned we are, an accident or a loss of job may leave us helpless and financially strained. Loan Protection Insurance plans can protect you and your family from the financial burden of paying for loans during your difficult times. Having a plan in place will make your financial future more stable.

We at Family Care Insurance know very well that insurance is all about potential benefits and risk management. We know that you want a safety net against unexpected financial situations without compromising your bank account in the process. We know that there is no one-size fits-all when it comes to loan protection insurance. That’s why we always compare the costs, risks, and potential benefits of each plan to make sure that each cent spent is worth the investment. We work directly with leading Canadian providers and can compare pricing from multiple companies to ensure that you are getting the right product at the lowest possible price. Give us a call if you are looking for honest advice. We will be more than happy to assist you.