- Life is unpredictable-illness, accidents, or job loss can happen to anyone
- Prevents missed payments, late fees, and damage to your credit score
- Protects your family or business from taking on your debt
- Offers peace of mind so you can focus on recovery, not bills
What Is Loan Protection Insurance?
Loan Protection Insurance covers your monthly loan payments if you lose your income due to disability, illness, or involuntary unemployment. It's available for personal loans, mortgages, lines of credit, business loans, and more-helping you avoid missed payments, protect your credit score, and reduce financial stress during tough times.
- Covers loan payments if you can't work due to accident, illness, or job loss
- Available for personal, mortgage, auto, and business loans
- Short-term or long-term coverage options
- Ideal for employees, self-employed, and business owners
Loan Protection Insurance Quote
Why Do You Need Loan Protection Insurance?
How Does Loan Protection Insurance Work?
Choose the type of loan(s) you want to protect (personal, mortgage, business, etc.)
Select your desired coverage amount and term (short-term or long-term)
If you're unable to work due to a covered event, your insurance pays your loan payments (up to policy limits)
Keep your finances on track and your credit protected-even during income interruptions
Who Can Benefit?
- Homeowners with a mortgage
- Individuals with personal or car loans
- Business owners with credit lines or loans
- Self-employed Canadians with variable income
- Anyone concerned about meeting loan obligations if their income stops
What Are the Benefits?
- Covers loan payments during illness, disability, or involuntary job loss
- Customizable plans for short-term or long-term needs
- Helps maintain your credit rating and financial stability
- Affordable options-compare rates online for the best value
- Easy application and fast claims process
FREQUENTLY ASKED QUESTIONS
Frequently Asked Questions about
Loan Protection Insurance
What types of loans can be covered?
Personal loans, mortgages, car loans, lines of credit, and business loans.
How much coverage can I get?
Coverage limits depend on your loan amount, income, and policy type (often up to $5,000/month per event).
Who is eligible?
Canadian residents age 18-65 who are employed or self-employed with a predictable income.
How do I make a claim?
Contact Punjab Insurance to start your claim-submit documentation for your illness, disability, or job loss, and we'll guide you through the process.
Can I cancel my policy if my needs change?
Yes, most policies allow cancellation with written notice-ask your advisor for details.
How do I get started?
Get a free quote or schedule a call with a licensed Punjab Insurance advisor for personalized help.
GOOGLE REVIEWS
Why Families & Businesses Choose Punjab Insurance
Aisha Malik
Sep 18, 2025
"I purchased a term life insurance plan and was impressed by the professionalism and clarity. The advisor patiently explained all options and helped me choose the right coverage. The process was smooth, and I now feel confident that my family's financial future is well protected."
Emily Carter
July 12, 2025
"Getting my health insurance was quick and hassle-free. The team guided me through multiple plans, explained benefits in detail, and answered all my questions. I felt reassured throughout the process. Their transparency and responsiveness made selecting the right policy."
Owen Mitchelle
Feb 14, 2025
"I recently filed a small claim and was impressed with how efficient and smooth the process was. The staff guided me step by step, and I received the payout promptly. The experience gave me full confidence in their service and made me feel secure about my coverage."
Arjun Patel
Nov 28, 2024
"Choosing a term insurance plan felt overwhelming at first, but the team made it simple and straightforward. They explained exactly what was covered and addressed all my questions. Premiums are affordable, and I now feel confident that my family is financially protected."
Rahul Mehta
Aug 27, 2025
"Overall, I had a positive experience purchasing health insurance. The policies were explained clearly, and I felt no pressure to decide quickly. Some email responses were slightly delayed, but the staff was friendly and helpful. I am satisfied with the coverage."
Meera Kapoor
Mar 22, 2025
"I was looking for reliable health insurance and found the team very supportive. They explained all policy benefits and helped me select the best coverage for my needs. It took a little longer than expected to receive all documents, but the overall process was smooth and reassuring."
Safeguard your loan payments, no matter what life brings. Loan Protection Insurance helps keep your finances on track during illness, disability, or unexpected job loss-so you and your family can stay secure and focused on what matters most.
Disclaimer: Information on this page is for general guidance only and not a substitute for professional advice. Please consult a licensed Punjab Insurance advisor for personalized recommendations.