Loan and line of credit insurance

Protect what's important to you

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Insurance that combines three types of coverage

Up to

100%

of your loan balance paid in the event of death

After

60 days

of disability benefits–the insurer will make your loan or line of credit payments to the Bank

Advantages of loan insurance

  • Your loan or line of credit is covered in the event of death, disability or critical illness.
  • In the event of disability or critical illness, the insurer will pay off all or part of your balance so you can focus on getting better.
  • Your insurance premiums are based on the outstanding balance of your line of credit.

Which loans and lines of credit are eligible?

 

 Coverage
  Life Disability Critical illness
Loan types  
RRSP lines of credit      
Personal loans      
Car loans      
RRSP loans      
Student lines of credit      
Lines of credit      

Coverage

Life

In the event of death, the insured balance of your loan will be repaid so your loans won't become a burden to your loved ones. The maximum insurable amount is $500,000 for a personal loan or a line of credit.

Disability

Rest easy knowing that if you become disabled and are unable to work, some of your payments will be made for you. Get up to 48 months of benefit payments for the duration of the loan for all insureds and up to 24 consecutive months of benefit payments per disability. See the eligibility criteria.

Critical illness

If you're diagnosed with cancer or suffer a stroke or heart attack, we'll cover your insured balance so you can focus on getting better. The maximum insurable amount is $150,000 for a personal loan or a line of credit.

Little details that matter

Learn about our other insurance solutions

Mortgage loan or All-In-One insurance

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Protect your National Bank All-In-One® or mortgage loan in the event of disability, critical illness or death.

See mortgage insurance

Credit card payment insurance

Insure your credit card balance to protect yourself and your loved ones from unexpected events.

See payment insurance

Ready to take out insurance?

To apply, or to get more information, make an appointment with an advisor.

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Terms of use
National Bank’s virtual assistant

When using our Virtual Assistant Service (the "Chatbot"), you accept these Terms of Use, which are subject to change without notice. Furthermore, you agree to consult these Terms of Use from time to time and acknowledge that your continuing use of the Chatbot means that you have accepted any changes that may have been made. Your continued use of the Chatbot means that you’ve read, understand and agree to these Terms of Use, the Terms of Use for our website, our Online transaction services, and to our privacy policy. You also understand any other agreements that you have with us will continue to apply when you use the Chatbot.

1. Our Services and your responsibilities

The Chatbot is an automated service which is integrated into our online banking platform.

The Chatbot is preprogrammed to answer general questions concerning the use of our online banking platform solely for informational purposes. The Chatbot is not able to answer questions on personal monetary transactions or products you hold with us.

By using the Chatbot, you understand and agree that:

  • The Chatbot does not provide financial advice or financial planning services.
  • The Chatbot does not conduct any banking transactions.
  • The Chatbot may not be able to answer all your questions. Therefore, it may not be able to provide you with the information you require. You must judge whether the answer provided responds to your question accurately. In the case of uncertainty, a customer service representative would be happy to help you. You can call us toll free at 1-888-483-5628 or 514-394-5555.
  • The Chatbot is not a complaint service. You cannot use the Chatbot to file complaints. If you have any complaints, you can contact us at the number indicated above.
  • We monitor, record and store the discussion that you have with the Chatbot to improve our interactions with our clients.
  • You will not provide the Chatbot with any confidential, personal, or private information. For example, you will not provide the Chatbot with your login information, PIN or other personal banking information.

2. Limitation of Liability

You acknowledge that we won’t be liable for any losses or damages that you may suffer as a result of your use of the Chatbot, including if the Chatbot is unavailable for any reason.

We cannot guarantee that the results obtained via the Chatbot will be accurate and reliable and that the answers provided will meet your expectations.

We will not be held liable for damages you incur as a result of:

  • Any delay, error, interruption or omission on our part or any other event beyond our control.
  • Any deficiency or technical error or any unavailability of our systems and wireless networks.
  • Your failure to meet any of your obligations.
  • Any amendment to or suspension, refusal or blockage of the Chatbot.
  • Any decision or measure you take in response to information and data obtained via the Chatbot.
  • Any other damages you may incur that are not caused by negligence on our part.

3. Language

You have requested that these Terms of Use, and related documents be drawn up in English.

4. Governing Law

These Terms of Use are governed and must be interpreted in accordance with the laws in force in the province or territory where you reside. If you reside outside Canada, the laws in force and the courts of competent jurisdiction are those of the province of Quebec.

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