Credit Balance Insurance for Individuals

This text is for information purposes only and does not constitute the group insurance contract. You may consult the insurance contract, which contains the terms and conditions of your coverage, during business hours at the institution that issued your credit card. You may also request a copy at your own expense.

Credit Balance Insurance for Individuals is offered by Desjardins Financial Security Life Assurance Company to holders of VISA Desjardins Platinum, VISA Desjardins Travel GOLD, VISA Desjardins Low-Rate GOLD, VISA Desjardins No-Fee GOLD, VISA Desjardins Classic and VISA Desjardins Student cards. This insurance can help you cover a portion or the entire current transaction balance including transactions made using the Accord D plan.

Why is Credit Balance Insurance important?

Credit Balance Insurance can help you cover your credit card payments in the event of:

• Death
• Dismemberment
• Disability
• Involuntary loss of employment
• First diagnosis of a critical or terminal illness

It is a tailored coverage at an affordable cost (directly proportionate to your account balance.)

When you take out Credit Balance Insurance, your spouse is automatically insured at no additional cost.

You and your spouse are entitled to around-the-clock telephone assistance at no additional cost.

How do I enrol?

You can enrol in Credit Balance Insurance when you obtain a VISA Desjardins credit card online or by calling 1-800-668-4545.

What is the maximum amount of insurance?

The maximum amount of insurance for all coverage and credit cards is $25,000 per participant.

The maximum monthly benefit for disability and loss of employment coverage for all credit cards is $750 per participant.

If you have several credit cards insured, the Insurer will consider those you have had the longest.

How is the cost of the insurance calculated?

The premium is the same for all cardholders. The monthly premium is calculated by applying the premium rate to the account balance. Tax is added to this amount, if applicable. This premium is deducted each month from the credit card account. No premium is required to insure your spouse.

You are entitled to a waiver of premium when benefits are paid by the Insurer under the disability income coverage or the loss of employment coverage.

Helpful telephone information service

As an insured, you have free access to a telephone assistance service. By enrolling in Credit Balance Insurance, you are entitled to the following services at no additional cost:

• Convalescence Assistance for information on home nursing care, private convalescence centres, etc.
• Psychological Assistance when facing problems in your life.
• Succession Settlement Assistance to support you in your responsibilities as liquidator.

For more information on Credit Balance Insurance, call 1-800-668-4545.