Life is unpredictable. Breathe easy knowing SecureDrive™ Loan Protection covers your car payments up to a fixed amount if life takes an unexpected turn.
What are you covered for?
* Loan Protection is optional and is underwritten by Co-operators Life Insurance Company and provided by LGM Financial Services Inc. Coverage is governed by the creditor group insurance policy and is subject to terms, conditions, exclusions and eligibility requirements. Contact your local SecureDrive dealership for more information on SecureDrive Loan Protection.
† Negative Equity means the difference between the Outstanding Balance of your insured Loan/Lease and the average wholesale Canadian black book value of your vehicle.
Included with life coverage, the living benefit covers you if you are diagnosed with a terminal illness.
Customize your coverage
Choose from one of three plans designed to meet of your needs.
Find a plan
that’s right for you
Rest assured knowing your car payments are covered if life takes an unexpected turn.
Be prepared for what life may bring…
Sources: Statistic Canada, cancer.ca/statistics and heartandstroke.ca
Getting the coverage you need has never been easier
No medical questionnaire or exams.
No smoker premium surcharge.
Premium can be included with
the vehicle financing.
Frequently Asked Questions (FAQs)
Find answers to our most frequently asked questions. If you still have questions, feel free to reach out to a SecureDrive advisor or your local selling Dealership.
Who underwrites SecureDriveTM Loan Protection?
SecureDrive™ Loan Protection, also known as The Co-operators Creditor Insurance, is underwritten by The Co-operators Life Insurance Company and provided by LGM Financial Services Inc.
Is Creditor Insurance or Loan Protection mandatory on financed and leased vehicles?
No, the Co-operators Creditor Insurance is an optional and voluntary product which offers security during times of financial hardship caused by certain life events.
When does coverage begin?
The effective date of insurance for single Premium Creditor’s Group Insurance coverage begins on the effective date of insurance as stated on the Insurance Enrollment.
How long does it take (on average) for a claim to be paid?
Claims are typically processed and paid within 90 days of notification of claim.
Can I buy Critical Illness coverage if I’m self-employed?
Yes, Critical Illness coverage is available for self-employed customers under our Carefree plan.