Insurance Solutions

LOAN INSURANCE

If you've taken out a personal loan, a mortgage loan or a personal line of credit with National Bank, you're on your way to making your dreams come true. And by protecting yourself with loan insurance, you can ensure that your dream will live on, even when the unexpected happens. In addition to our life and disability coverage, we now offer mortgage loan critical illness insurance. This insurance takes care of your mortgage, during and after your recovery, so you can focus on the business of getting better.


IN THE EVENT OF DEATH, YOUR LOAN IS AUTOMATICALLY REPAID

With loan insurance, your loan will be paid in full in the event of your death. Your premium is based on your age and the loan amount, and remains fixed for the duration of the loan. You can sign up for loan insurance at any time.

MORTGAGE LOAN CRITICAL ILLNESS INSURANCE - FOR LIFE AND LIVING AFTER ILLNESS!

A new insurance product, critical illness insurance will repay the balance of the insured's mortgage in the event he or she is diagnosed with one of three critical illnesses: cancer, stroke or heart attack. These illnesses are among the most common in Canada.

New medical advances and better living conditions mean that more and more people are recovering from critical illnesses. However, the road to recovery can be long and costly.

Although this type of coverage has only been available in North American for a few years, it's growing in popularity. It is designed to meet your financial needs when you survive a critical illness and wish to resume a normal life. For life and for living after illness!

This coverage also includes accidental dismemberment insurance, which ensures the partial or total repayment of your mortgage in the event of a serious accident that causes irreversible damage to your bodily integrity.


IN CASE OF DISABILITY, YOUR LOAN PAYMENTS ARE GUARANTEED

The disability insurance option will make your insured loan payments for you if you are no longer able to work. The only conditions for eligibility are that you must have signed up for life insurance and have worked a minimum of 60 paid hours during the four weeks preceding your insurance application, or, if you are self-employed, you must have earned income representing at least $10,000 during your most recent fiscal year preceding the date you signed your application.


GET SOLID PROTECTION FOR A FEW DOLLARS PER MONTH

It costs only a few dollars a month to insure your loans. For greater convenience, your premiums are deducted automatically each month from your bank account.

Determine the amount of your premium by adding life, critical illness (for your mortgage only) and disability insurance to the calculation of your loan payments:


SHARE YOUR INSURANCE

You can also insure your spouse, the co-borrower, endorser or guarantor of your loan and their spouses. In all these cases, they will benefit from a reduced premium.


YOUR CLAIM WILL BE PROCESSED WITHIN 60 DAYS

Submit your claim and we will give you an answer as quick as possible. Generally, we settle claims within 60 days following receipt of your duly completed claim application.


SUBMITTING A CLAIM

In the event of death

National Bank Life Insurance
1100 University Street, 5th Floor
Montreal, Quebec H3B 2G7

If you prefer to receive these forms by mail, please contact us at the same address.

In the event of an initial diagnosis of an insured critical illness

Make sure that our loan insurance actually covers the diagnosed illness by checking your insurance certificate.

National Bank Life Insurance
1100 University, 5th Floor
Montreal, Quebec H3B 2G7

If you prefer to receive these forms by mail, please contact us at the same address.


In the event of disability

Please be sure that the period of disability will be longer than the waiting period indicated in your policy. If it is not indicated, you can obtain this information by contacting us.

National Bank Life Insurance
1100 University, 5th Floor
Montreal, Quebec H3B 2G7

If you prefer to receive these forms by mail, please contact us at the same address.

Once the claim is approved, the benefit will be paid to the National Bank which will apply it to your loan payments.



For more information on our products and services, contact us by phone.