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Loan Insurance
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Other Resources |
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FAQ Section
Visit our FAQ section for more information on insurance options.
Rates
If you are looking for our rates, click here
| | One of the leading causes of financial strain is the loss of income due to the temporary or permanent illness or injury of an income earner who is not able to work.
 Do you have family responsibilities and dependants who rely on your income? Is your total debt load more than 25% of your income? Meeting your loan payments without your income can cause financial stress for your whole family. Additional medical, childcare, or housekeeping costs can be an extra burden if your income is reduced due to accident or illness. Protect your savings with loan insurance.
Credit life and disability insurance can protect you and your family from the unexpected.
Benefits
Credit Life Insurance
Pre-Existing Conditions
Credit Disability Insurance
Benefits
Choice of life only, disability only, or both.
- Available for all joint parties, guarantors or co-signers
- Premiums can be added to borrowed amount
- Protects credit rating and security
- Flexible choice of single or joint coverage
- Convenient with benefits paid directly to OMISTA on owners behalf
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Credit Life Insurance
| Maximum Coverage |
$75,000.00 |
| Maximum Term |
120 months |
| Minimum Age |
19 |
| Maximum Age |
69 |
- Available to age 69 - expires on 70th birthday
- All borrowers under age 70 qualify
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Credit Disability Insurance
| Maximum Monthly Coverage |
$1000.00 |
| Minimum Age |
19 |
| Maximum Age |
59 |
| Elimination Period |
30 Days |
| Maximum Benefits |
120 Months |
- Qualify prior to 60th birthday and only covered to your 65th birthday
- Temporary or permanent disability
- Must be working a minimum of 20 hours a week for 2 consecutive weeks or for seasonal workers, capable of working
- Maximum coverage is for all loans combined
- Can be added at time of loan application or within first 60 days by paying premium in full
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Wise Financial Guidance To Empower You
That's our difference. Every OMISTA Credit Union product, from mortgages to chequing accounts, comes with wise financial guidance. OMISTA's Financial Service Experts provide solutions to empower you to make the best decisions for your financial future. Everyone gets an expert (Not just the rich and famous).
We’d love to hear from you, so feel free to pick up the phone or head to the branch to speak with an expert today.
For more information about our insurance products please contact an OMISTA expert at one of our branches.
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