Creditor Insurance

Why do I need Creditor Insurance?

Financing the purchase or lease of your vehicle creates an additional financial responsibility for you and your family.

For most families, a car payment represents the second largest financial obligation after their mortgage or rent. Anyone concerned with a loan to repay in the event of death, total disability, or loss of employment income should consider this protection.

Our Creditor Insurance Protection Plan gives you a convenient way to guard against unforeseen events that impact your ability to meet your obligations, and maintains the value of your other insurance policies.

 

What can Creditor Insurance offer me?

Life Insurance

In the event of your death during the term of the insurance, this coverage could pay off the scheduled balance of your loan, removing any claim on your vehicle by creditors. If joint life is selected, the death of either you or your co-buyer could pay off your loan.

Total Disability Insurance

If you are unable to perform your employment duties as a result of accident or sickness, total disability insurance could make your scheduled monthly payments for you as long as you remain eligible for benefits.

Involuntary Unemployment Insurance

In the event of your involuntary employment loss or layoff, this Involuntary Unemployment Insurance could make your scheduled monthly payments for you as long as you remain eligible for benefits.

Critical Illness Insurance

In the event of your diagnosis of one of the covered conditions, this coverage could pay off the scheduled balance of your loan, removing any claim on your vehicle by creditors.