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universal loan insuranceUniversal Loan Insurance

Universal Loan Insurance (ULI) is a new and unique way to insure all of your debts under one single contract. This means that if you ever become disabled, you only need to file a single claim. Benefits will be paid to your creditors directly which will allow you to apply for government assistance in case if you need it.
Did you know that according to the Canadian Life and Health Insurance Association (CLHIA) in 2009 almost half of all mortgage foreclosures are the result of a disability?


Mortgage Loans

Buying property is by far the biggest investment you are likely to make in your life. Universal Loan Insurance provides comprehensive coverage that is adapted to your needs:

Lines Of Credit

Since lines of credit are an increasingly popular way to consolidate debt, including as a means to finance real estate, Universal Loan Insurance offers you coverage for the monthly interest payments, whether payable or not, as well as an additional monthly amount equal to 0.5% of the balance owing on the line of credit.

Some lines of credit require monthly repayment of a percentage of your balance, in which case benefits are limited to the amount required by your financial institution, to a maximum of 3% of the balance owing.

If you make predetermined monthly payments to repay your line of credit, these may justify your monthly benefit as long as you can provide a supporting document to this effect.

Other Loans

Universal Loan Insurance covers any loan that you take out with a financial institution or a recognized body and that provides for a minimum payment at regular intervals, including:

To be eligible you must be:

For a free consultation please call: (416) 953-9947.

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