Balance Protection

Protection when you may need it most

If you are between the ages of 18 and 65 then balance protection insurance for your Credit Card Account can help protect the financial lifestyle you’ve earned for yourself and your family. These plans are designed to help provide financial security for some of the really difficult times in life: when families have to cope with involuntary unemployment, total disability, critical illness, dismemberment, or death.

Two optional plans for financial security
Balance Protection Plus

For a monthly charge of $1.20 per $100 of your average daily balance, you can enroll in Balance Protection Plus1 today and enjoy the security of knowing that your Credit Card Account balance can be paid, up to one lump sum payment of $25,000, should you or your Spouse2 experience one of the following covered events:

  • Death
  • a Dismemberment
  • Critical Illness diagnosis
  • Hospitalization for more than 30 consecutive days

This insurance can also make monthly payments towards the outstanding balance of your Credit Card Account when one of the following covered events is experienced:

  • you or your Spouse are Hospitalized for at least 24 hours
  • you or your Spouse become Totally Disabled2
  • you experience a period of Involuntary Unemployment2, or Loss of Self-Employment Income

If you meet the eligibility requirements as defined in the Certificate of Insurance, these monthly benefit payments are equal to the greater of 10% of the incurred statement amount or $10. Total monthly benefits will not exceed $25,000, the maximum amount of insurance.

Balance Protection Insurance

For a monthly charge of $0.99 per $100 of your average daily balance, you can enroll in Balance Protection Insurance. This coverage includes the benefits of Balance Protection Plus, with the exception of Disability Requiring Hospitalization2 and Spousal Coverage2.

Additional features

Our plans also include a number of features such as coverage for Accidental Death at 66; providing a refund of premiums while receiving monthly benefits; plus a return to work payment to help you get back on your feet after a covered disability or involuntary unemployment.

The Certificate of Insurance contains a complete list of benefits, eligibility, exclusions and limitations:
Balance Protection Plus
Balance Protection Insurance

Quebec Residents: Please also refer to the Distribution Guides:
Balance Protection Plus
Balance Protection Insurance

For more information or to enroll today, call 1-800-561-7849 and make our optional credit card balance insurance products work for you!

Customers who are presently enrolled in our optional credit card balance insurance products can visit www.benefitactivations.ca to file a claim or check the status of an existing claim.