Balance protection

CreditWise® helps you take care of your credit card balance in unforeseen circumstances. Protect your loved ones by insuring your balance.

Protection when you may need it most

If you are between the ages of 18 and 69 then CreditWise insurance plans can help protect the balance of your Credit Card Account during some of the really difficult times in life: when you have to cope with involuntary unemployment, total disability, critical illness, dismemberment, or death.

Two optional plans to help protect you

CreditWise Plus insurance

For a monthly premium charge of $1.20 per $100 of your average daily balance, plus applicable taxes, you can enroll in CreditWise Plus1 today and enjoy the security of knowing that the amount owing on your Credit Card Account, as of your date of loss, can be paid in full to a maximum of $30,000, should you or your Spouse2 experience one of the following covered events:

  • Death
  • An Accidental Dismemberment
  • Critical Illness diagnosis
  • Hospitalization for more than 30 consecutive days

This insurance can also make monthly payments towards the Eligible Balance3 of your Credit Card Account when one of the following covered events is experienced:

  • you or your Spouse are Hospitalized for at least 24 hours
  • you or your Spouse become Totally Disabled2
  • you experience a period of Involuntary Unemployment2, or Loss of Self-Employment Income2

If you meet the eligibility requirements as defined in the Certificate of Insurance, the initial monthly benefit payment will be equal to the greater of 10% of the Eligible Balance3 and the Minimum Payment4, and subsequent monthly payments will be the greater of 10% of the Eligible Balance3 and $10. Total monthly benefits will not exceed $30,000, the maximum amount of insurance.

CreditWise insurance

For a monthly premium charge of $0.99 per $100 of your average daily balance, plus applicable taxes, you can enroll in CreditWise insurance. CreditWise insurance includes many of the benefits of CreditWise Plus, however, monthly benefit payments are based on 5% of Eligible Balance3, Disability Requiring Hospitalization2 is not included, nor is Spousal Coverage2.

Additional features

Our plans also include a number of features such as coverage for Accidental Death at 705; providing a refund of premiums while receiving monthly benefits; plus a return to work payment to help you get back on your feet after a covered Total Disability, Involuntary Unemployment, or Loss of Self-Employment claim.

The Certificates of Insurance contain a complete list of benefits, eligibility, exclusions and limitations.

Quebec Residents: Please also refer to the Distribution Guides.

Enroll Today

Call 1-800-821-7747
24 hours a day, 7 days a week
and make our optional CreditWise insurance products work for you!

Customers who are presently enrolled in our optional credit card balance insurance products can visit www.benefitactivations.ca to file a claim or check the status of an existing claim.