Home equity line of credit insurance (HELOC insurance)
Request your free quote by calling 1-800-252-1846
Life is full of surprises. However, surprises are not always pleasant. What would happen to your family if the worst were to happen? Have you thought about everything in case something unexpected happens?
Give your family peace of mind with our line of credit insurance!
By taking out Laurentian Bank line of credit insurance, you can be sure that you will not leave your family in need in the event of death or accidental dismemberment.1
Don’t wait for the unexpected to happen. Request your quote today!
Benefit from numerous advantages
- Peace of mind: Repay your line of credit balance upon the death of one of the participants;
- Sleep easy: Protection in case of accidental death at no additional cost upon signing the proposal and during the application process.
- Avoid surprises: Your premium is determined according to the balance used.
What you also gain in return
- Simplify the life of your loved ones in the event of death;
- Shorten the time it takes to settle an estate.
| FEATURES | |
|---|---|
| Eligibility1 | The eligibility criteria are as follows:
|
| Maximum insurable amount | $250,000 |
| Premium type | The premium is debited monthly and calculated according to the balance used.
|
| Termination of insurance | Insurance is terminated at the earliest of the following dates:
|
| Accidental dismemberment insurance | This coverage is included in your life insurance. Refer to the insurance certificate for the benefits payable. They vary between 33 and 100% of your line of credit balance. |
For more information on our insurance products and all the details, please see the insurance certificate.
Special Offer
Mortgage and Line of Credit Insurance Assistance Program2
Receive the Mortgage and Line of Credit Insurance Assistance Program at no additional cost for the remaining term of your loan with any insurance enrollment on a new or existing mortgage, Home Equity Line of Credit or Line of Credit, including:
- Financial Coaching
To help you create strategies to improve your financial health and credit score, explore debt resolution options, and manage a life transition. - Legal Advice Support
Receive legal advice for your needs, such as working out a child custody agreement, managing a small claims court, assistance with writing your will or understanding your rights in a landlord-tenant dispute. - Psychological Support
Help to take effective steps to improve your well-being, offering a supportive and confidential environment to provide you with counselling for any challenge.
Summary
This product is suitable for you if:
- You have no desire to draw on your savings or those of your beneficiaries in the event of your death.
- You want your line of credit settled when you pass away.
Legal notice
1. Issued by Industrial Alliance, Insurance and Financial Services Inc. Some conditions apply. For more details, refer to the summary of insurance and the insurance certificate available at branches or online at laurentianbank.ca.
2. Some terms, conditions and exclusions apply. This is a limited-time offer and is subject to change without notice. Insurance coverage is issued by Industrial Alliance Insurance and Financial Services Inc. The assistance program is provided by Homewood Health, Inc. In order to be eligible for Homewood Health, Inc.’s Mortgage and Line of Credit Insurance Assistance Program, you must be eligible for the insurance coverage. To be eligible, you must be a natural person aged 18 to 64 for life insurance and between 18 and 59 for disability insurance and reside in Canada. This promotional offer applies only any insurance enrollment on a new or existing mortgage for life/disability insurance or for Home Equity Line of Credit or Line of Credit for life insurance, made between April 15 and October 31, 2022. Subject to credit approval for financing and to insurer’s approval of eligibility for insurance (life/disability). The insured borrower will be able to benefit from the assistance program at no additional cost from the date of the application for the remaining term of the loan. If there are multiple tranches of mortgage loans, the duration will be that of the longest remaining term. This offer does not apply to changes made to existing insurance, except for the addition of disability insurance to an existing mortgage with life insurance. For more details, see the summary of insurance product or the insurance certificate, available, as the case may be, at branches or online at laurentianbank.ca.
