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Solutions home Dealership knowledge base

Product Knowledge (Loan Protection)

What is the maximum benefit per month for Disability coverage on Essential Plus Plans?
The maximum benefit is $1000 per month.
Tue, 10 Nov, 2020 at 5:17 PM
What is the maximum benefit per month for loss of employment coverage on Essential plans?
The maximum benefit is $500 per month.
Tue, 10 Nov, 2020 at 5:19 PM
What is the maximum benefit for Life coverage on the Essential Plan?
The maxmum benefit is $10,000 (negative equity).
Tue, 10 Nov, 2020 at 5:21 PM
Can Loss of Employment be offered as a standalone product in the province of Quebec?
No, it must be bundled with Life or Disability in Quebec.
Tue, 10 Nov, 2020 at 5:04 PM
Are customers eligible to claim for Loss of Employment benefits if their loss of employment results from a Labour Dispute, Strike or Lockout?
Customers are not eligible to claim for Loss of Employment benefits if their loss of employment results from a Labour Dispute, Strike or Lockout. 
Sat, 7 Nov, 2020 at 12:47 PM
If a customer is on maternity leave, are they considered to be "off of work" and therefore eligible to make a claim?
Statutory leaves of absence do not impact eligibility to enroll for Disability Insurance. However, customers will have to meet the eligibility requirement (...
Tue, 3 Nov, 2020 at 5:24 PM
Can I sell life and disability coverage if a customer is currently on disability?
Yes, you may sell disability coverage (essential or carefree) at any time (working, not working, disabled, etc). 
Tue, 3 Nov, 2020 at 5:22 PM
If a customer had a mole checked five years before taking out their auto loan and it was found to be benign/noncancerous, would a Critical Illness benefit be considered?
If the test results confirm the mole is benign, meaning no medical treatment or advice is required thereafter for that mole, then the pre-existing cancer ex...
Tue, 3 Nov, 2020 at 5:22 PM
If there was a diagnosis or apparent signs of cancer before the effective date of insurance, would this result in a Critical Illness claim being rejected under the Carefree plan?
We will not pay a Critical Illness insurance benefit for a diagnosis of cancer if a customer had any cancer at any time before the effective date of insuran...
Thu, 12 Nov, 2020 at 5:25 PM
Is a customer eligible to apply for Loss of Employment coverage if they have a seasonable job?
No. If a customer is seasonally employed, they are not eligible to apply for loss of employment coverage — regardless of the number of jobs, or the number o...
Tue, 3 Nov, 2020 at 5:15 PM