Family & Lifestyle Protection Learn More Protect your family from the unexpected. Our creditor group insurance is designed to protect your family from the financial risks of an unexpected death, illness, or injury. Insurance protection can give you the confidence to embrace every opportunity and live each day to its fullest. Overview Overview Life Insurance What We Offer Coverage Calculator Statistics Testimonials Disability Insurance What We Offer Coverage Calculator Statistics Testimonials Critical Illness What We Offer Statistics Overview Family & Lifestyle Protection Signing a vehicle lease or loan entitles you to Family & Lifestyle Protection. First Canadian’s creditor group life, critical illness, and disability insurance products exist to protect you and your family.In the event of a covered death, illness, or injury, your insured vehicle payments are paid by us, or we’ll pay out the insured portion of your vehicle loan entirely. What Family & Lifestyle Protection Covers Unexpected Death Pays out your loan or lease in the event of your death while the policy is in place. This coverage is designed to leave your family with a free and clear asset. Critical Illness Designed so you can focus on recovery instead of vehicle payments. This coverage provides a lump sum payment to reduce or eliminate your loan if you are diagnosed with one of the five triggering conditions, including life threatening cancers or a heart attack, and survive 30 days. Illness or Injury Affecting Work Covers your vehicle payments in the event you should become sick or injured and cannot work. Payments continue until you return to work or the loan is paid out, intending to protect the good credit that allowed you to secure your financing approval today. Many Canadians feel the pressure of living paycheck to paycheck, and with high inflation, insurance should be a last resort budget cut for Canadians. What we Offer Life Insurance Would your loved ones feel increased financial pressure if you passed away? First Canadian’s creditor group life insurance is designed to protect your family from the financial risks of an unexpected death. If you die before your vehicle loan is fully re-paid, First Canadian will pay off the insured balance owing directly to your lender. This leaves your family with an asset instead of a liability. Tax-Free Benefit Payments Benefit payments are tax-free, paid directly to the lender and never have to be re-paid. Pays Over and Above any Additional Insurance Whether you have coverage through work and/or a term life policy, coverage will still pay out. Low Premiums, Easy Claims Age, gender, and health will not affect your premium, and premium won’t change over time. If the time comes, our professional and courteous claims team is dedicated to help you through the process. Benefits on approved life claims are paid out on average within 30 days and are not subject to probate, meaning the debt can be paid down immediately. No Medical Exam Required You won’t need to answer any health questions, undergo health checks or medical examinations. Shorter Term Options Available If you plan on paying out your loan early, options are available to match your exact needs. Premiums Included in Financing Enrolment is voluntary and coverage is made available when purchasing your vehicle, so premiums can be included in the financing as an easy payment option. Why Life Insurance matters There are many misconceptions about life insurance. Here are some things to consider, so that “What if?” doesn’t become “What now?” 35% of Canadians say they do not have life insurance. In a 2021 Ipsos poll, although 63% of Canadians believed insurance coverage is a way to control an unpredictable situation, one third of us do not have life insurance. Source: ipsos.com Over 90% of Canadians are dangerously under-insured. 49% of Canadians with dependents surveyed never purchased life insurance before. Of those that indicated they have a life insurance policy, 40% are only covered through a work or group benefits plan. Sources: newswire.ca Only 20% of Canadians reported plans to reduce spending on life and health insurance. At the tail end of the pandemic, those with coverage recognize the importance of insurance and intend to keep their coverage in place. Insurance is a last resort budget cut for Canadians facing financial inflation. Sources: policyadvisor.com Many employer-paid policies only offer about one year’s salary worth of coverage. Your group life insurance policy through work may not be enough to adequately take care of everything you’d like it to cover. Another factor to consider, is what happens when you leave your place of employment, will your coverage follow you? Source: Investopedia.com Life Insurance Coverage Calculator Find out if you have enough coverage. Savings + Existing Life Insurance ? $ Existing Liabilities ? $ Vehicle Amount to Finance ? $ This vehicle loan increases your coverage shortfall by $50,000 CURRENT Coverage Shortfall Vehicle Shortfall Giving you the confidence to live each day to its fullest. What our customers are saying 4.4/5 of 1034 Reviews “Great customer service! The staff I dealt with made my life and the processes so easy and quick. I was/am incredibly impressed with the ease of the process and with the result!” Meghan N, First Canadian Customer, 2022 “The claims examiner got in contact with me in a timely manner and was very helpful with the process. She also kept in contact with me throughout the entire time. Would definitely recommend first Canadian insurance.” Rene B, First Canadian Customer, 2022 “Very excellent people to talk to. They were very good at explaining what they were doing for me. I cannot complain with the service they are providing for me and my family. Thanks again!!” Wade W, First Canadian Customer, 2022 “I was in contact with two people at First Canadian Insurance Corporation and they were both courteous, knowledgeable, and kind. They knew their information and made my dealings with them easy and straightforward. I would have no hesitation in dealing with this corporation again.” Rosa D, First Canadian Customer, 2022 1 in 3 workers between ages 30-64 will experience a disability greater than 90 days. WHAT WE OFFER Disability Insurance Imagine being sick or injured, unable to work, and your reduced income isn’t going to cover your bills. How would you account for unexpected expenses? We want to protect the good credit that allowed you to secure your financing approval today. First Canadian’s disability insurance is designed to protect you from the financial risks of an interruption in your ability to earn an income. If you become sick or get injured, on or off the job, and are unable to earn an income, First Canadian will pay the insured monthly vehicle payment on your behalf directly to your lender. This allows you to focus on healing without having to worry about making your vehicle payments. Claim More Than Once, as Needed Benefits continue for as long as you remain disabled (as defined in the policy) and you may claim as many times as necessary during the term of your coverage. Prorated Coverage Starting Day 7 Our best coverage ensures your benefits begin the moment you become unable to work, subject to a short 7-day waiting period. If your injury is the result of an accident or your situation requires hospitalization, the waiting period is waived. We also offer a number of other waiting period options. Direct Creditor Payments Benefit payments will be forwarded directly to your lender for each day of Total Disability. Supplement your Employee Group Benefits Most group benefit plans provide 66% short-term disability coverage, meaning you’ll be on a reduced income if you become sick or injured and can’t work. With First Canadian’s coverage, you can choose to insure your full monthly payment or a portion of it to best align with your unique needs. This partial payment option is available through most lenders. Covered 24/7, 365 Days a Year Unlike WCB Benefits, coverage is in place 24 hours a day, 365 days a year. Optional Job Loss Protection Offered as a bundled product with 30-day Elimination Disability coverage, Involuntary Unemployment protection is designed to ease the financial burden if you are faced with the sudden and unexpected loss of your job. Up to 6 monthly benefit payments will be made for a job loss claim, ensuring you can keep your vehicle while you search for new employment. *Not available to those who are seasonally or self-employed. Disability Insurance Coverage Calculator Find out if you have enough coverage. Income Monthly Income (After Tax) ? $ Expenses Current Expenses ? $ New Vehicle Payment ? $ Monthly Shortfall/Surplus ? $ Your current coverage level leaves you with just $200 per month after major expenses Protected Unprotected Why Disability Insurance Matters Disability insurance works when you can’t. 22% of Canadians age 15 and older have had at least one disability. Source: www150.statcan.gc.ca 1 in 3 workers between ages 30-64 will experience a disability greater than 90 days. Source: www150.statcan.gc.ca More than three in five (62%) of Canadian workers have been exposed to someone having taken time off work due to a disability, with one in four (25%) having had taken this time themselves. Source: rbc.com 51% of workers would find it difficult to meet their financial obligations if their paycheck were delayed by even a single week. Source: moneysense.ca Have peace of mind while you are recovering. What our customers are saying 4.4/5 of 1034 Reviews “They were prompt and very professional. I was impressed with their customer service.” Dianne C, First Canadian Customer, 2022 “Absolutely impressed with the agent working on my disability claim, he’s been so helpful with everything we’ve brought to him or questions asked 100% recommended!” Jessica F, First Canadian Customer, 2023 “I had such a great experience with this company. I had a few hiccups on my end while off on medical leave and they worked through it with me! It’s an absolute breath of fresh air to be dealing with a company and feel like you matter.” Adam P, First Canadian Customer, 2023 “Spoke with the representative, he is wonderful. Friendly, clear reception on the phone, could understand his speech, efficient and very informative. Great vibes. Would do business with this company again” Helen S, First Canadian Customer, 2022 “One of the best group insurance I ever had. Never a problem awesome service” Doug H, First Canadian Customer, 2022 WHAT WE OFFER Critical Illness Insurance Focus on recovery instead of vehicle payments. As you age, the risk of certain illnesses increases. If you are newly diagnosed with one of five triggering conditions and survive more than 30 days, Critical Illness insurance leaves funds available to pay for medical expenses or personal/family spending so you can focus on recovery. Like life insurance, a lump sum payment is made to reduce or eliminate your vehicle loan. Eligible Diagnoses Heart Attack, Stroke, Life Threatening Cancer, Paralysis, Major Organ Transplant Bundle with Other Products for Complete Protection Complete insurance protection from unknown health risks includes life, critical illness, and disability coverage. It’s better to have your entire vehicle loan paid out if you are diagnosed and unable to work. If you become ill with something other than a defined critical illness, your disability coverage protects you. And just in case you don’t survive, your life insurance will be there to ensure your family doesn’t have to worry. Nearly 2 in 5 Canadians (44% of men and 43% of women) is expected to develop cancer during their lifetime. Estimates suggest that more than 640 Canadians will be diagnosed with cancer every day. Source: Canadian Cancer Society Nine in 10 Canadians have at least one risk factor for heart conditions, stroke or vascular cognitive impairment. One person dies in Canada every five minutes from heart conditions, stroke or vascular cognitive impairment. This outpaces other diseases; 13% more people die of heart conditions, stroke and vascular cognitive impairment than die from all cancers combined. Source: Heart & Stroke Foundation About 741,800 Canadian adults (aged 20+) live with the effects of a stroke. That’s the equivalent to the population of New Brunswick! Stroke can happen at any age, but the prevalence rises sharply after age 55. Source: Public Health Agency of Canada
