Payment Protection

Payment Protection is an easy and affordable way to protect yourself and your family from unexpected financial losses.

At Cambrian, our Payment Protection programs offer life and disability protection for the outstanding insured balance of your loan or credit line. Having this security removes the financial burden from family members or business partners should anything happen to you.

Learn the benefits of Payment Protection. 


Credit Life Payment Protection


Our Credit Life Payment Protection programs pays off the balance of insured loans, removing the financial burden from family members, in the event of your death.

PERSONAL LOAN LIFE PAYMENT PROTECTION

Maximum coverage: $90,000
Maximum issue age: 69
Age coverage ceases: 75
Program pays outstanding loan balance
No health questions required

CRITICAL ILLNESS PAYMENT PROTECTION (ON PERSONAL LOANS)*

Loan Life Payment Protection is a pre-requisite for Critical Illness coverage
Medical impairments insured: life-threatening cancer, stroke, and heart attack
Maximum coverage: $90,000
Maximum term: 15 years
Maximum issue age: 59
Age coverage ceases: 75 
*See policy for full details

LINE OF CREDIT LIFE PAYMENT PROTECTION

Maximum life insurance coverage: $1,000,000 to age 64
Maximum coverage: $100,000 (application age 65 through 69)
Maximum issue age: 69
Age coverage ceases: 75
Program pays 110% of the average balance 12 months preceeding, or balance at date of death
Minimal health questions required for coverage above $50,000

CRITICAL ILLNESS PAYMENT PROTECTION (ON LINE OF CREDIT PRODUCTS)*

Line of Credit Life Payment Protection is a pre-requisite for Critical Illness coverage
Medical impairments insured: life-threatening cancer, stroke, and heart attack
Maximum coverage: $1,000,000
Maximum term: n/a
Maximum issue age: 59
Age coverage ceases: 75 
*See policy for full details


Credit Disability Payment Protection


Our Credit Disability Payment Protection makes your loan payments if you or your co-borrower are unable due to a disability caused by sickness or accident.

PERSONAL LOAN DISABILITY COVERAGE

Our Credit Disability Payment Protection program for personal loans makes the monthly payments on insured loans, removing the financial burden from you and your family in the event you are disabled.

Maximum coverage: $180,000
Maximum issue age: 69
Age coverage ceases: 75
Program pays monthly payments to a maximum of $1,500 for a maximum of 120 months
No health questions required

LINE OF CREDIT DISABILITY COVERAGE

Our Line of Credit Payment Protection program offers disability protection for the outstanding insured balance of your Accessline of Credit, which could remove the financial burden from family members or business partners.

Maximum monthly benefit: $3,000, to $180,000 total cumulative
Maximum term of benefits: 60 months
Maximum issue age: 69
Age coverage ceases: 75
Elimination period (before benefits become payable): 30 days non-retroactive
Program pays 3% of the lesser of 110% of the average balance 12 months preceeding, or balance at date of disability






*Payment Protection is optional and is underwritten and provided by CUMIS Life Insurance Company. Coverage is governed by the terms and conditions of the creditor group insurance policy issued to the creditor and is subject to terms, conditions, exclusions and eligibility requirements. See the Product Guide and Certificate of Insurance for full coverage details.

Enroll in Payment Protection by Calling your Branch