Loan Protection

When life forces you to stop, we help keep you going

In the event that you are unable to pay the loan on your unit due to an accident, serious illness, disability or loss of employment, Loan Protection helps protect your finances by continuing to pay the loan for you.

Available for:

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Motorcycle (On-road)
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Motorcycle (Off-road)
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ATV
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Side-by-Side
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Snowmobiles
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Personal Watercraft
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Outboard
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Boats

Product benefits

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Life Insurance: Pays up to $25,000 of your loan balance if you pass away while insured
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Serious Illness Protection: Pays up to $3,000 of your loan balance
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Accident and Sickness Protection: Covers up to $500 per month for up to six (6) months for each disability, with an aggregate limit of $6,000 if you become disabled due to an accident or serious illness
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Involuntary Loss of Employment: Covers up to $500 per month for up to three (3) months with an aggregate limit of $3,000 if you lose your job involuntarily

When might loan protection be helpful?

If you were unable to work or involuntarily terminated from employment:
  • 31% have no savings
  • 30% couldn't pay their bills
  • 78% say they could only survive up to 3 months

Source: Ipsos Poll, 2020

See Additional Information
Limitations and exclusions apply. The Loan Protect product is optional. All transactions related to the optional Loan Protect product are governed solely by the provisions of the applicable product Certificate of Insurance. Please refer to the applicable product Certificate of Insurance for details of terms, conditions, and specific coverage details, including limitations and exclusions. Coverage and product availability may vary by province.