Balance Protection

Are you prepared for life’s unexpected?

Balance Protection insurance offers an affordable safety net to protect you and your family from financial hardship caused by unexpected events.

       1 in 3 people will be disabled for 90 days or more at least once before they reach the age of 65.¹

       48% of Canadians say they live within $200 of not being able to cover their monthly bills.²

Sometimes unexpected events happen in life that could leave you unable to pay your credit card balance or even the minimum monthly payment. To help you deal with these unexpected events, your Consumer Canadian dollar Collabria account provides you access to comprehensive Balance Protection Insurance* at an affordable price.

For only $0.99 per $100 of outstanding balance** (plus taxes as applicable), you can protect yourself and gain peace of mind.  The cost of this insurance is automatically added to your credit card statement each month and if you do not have a balance, you do not pay. The cost calculation will be capped at $0.99 per $100 for the first $10,000 of your credit card balance.† 

With Balance Protection Insurance, your minimum monthly payments continue to be made on your account if your income is interrupted by:

• Disability
• Illness
• Accident
• Strike
• Job layoff or involuntary dismissal

Further, in the event of death, accidental dismemberment/paraplegia or diagnosis of an insured critical illness or terminal illness, the outstanding balance on your credit card account will be paid off (up to a maximum of $25,000).

Get the confidence of knowing that your existing savings and retirement funds will remain intact, and your credit rating and standard of living will remain unaffected.

Help safeguard your financial future.
Because you never know. But you can be prepared.

¹CorHealth Ontario.
²Ipsos.
Applicants must have an approved Consumer Canadian dollar Collabria account and be under the age of 70 at the time of application to be eligible for this insurance.
*Credit Card Balance Protection is optional and is underwritten by Co-operators Life Insurance Company. Supporting services, such as enrolment intake, medical underwriting and claims administration, are provided by the employees of CUMIS Services Incorporated, a subsidiary of Co-operators Life Insurance Company. Coverage is governed by the terms and conditions of the Creditor's Group Insurance Policy issued to Collabria and is subject to terms, conditions, exclusions and eligibility requirements. Full details can be found here. To contact CUMIS, A Division of Co-operators Life Insurance Company visit www.cumis.com or call 1-800-263-9120.
**The monthly fee is based on the outstanding account balance on the statement billing date.
† Maximum coverage of $25,000 outstanding balance will be protected by Balanced Protection Insurance.