Credit Card Balance

Optional Balance Protection Insurance

Sometimes unexpected events happen in life that can leave you unable to pay your credit card balance or even the minimum monthly payment. To help you deal with these unexpected events, your Consumer Canadian dollar Collabria account provides you access to comprehensive Balance Protection Insurance* at an affordable price.

  • Protection if your earnings are effected by involuntary loss of employment, loss of self-employment, disability, illiness or accident.
  • Payment is made on your Consumer Canadian dollar Collabria account until you return to work, up ot $10,000.
  • In the event of loss of life, your entire account will be paid off, up to $10,000.
  • Premium is .99 cents for every $100 of outstanding balance (plus taxes as applicable)
  • You do not pay a premium if you do not carry a balance
*Balance Protection Insurance Coverage is optional and underwritten by CUMIS Life Insurance Company. Full details can be found here.

**Maximum coverage of $25,000 outstanding balance will be protected by Balanced Protection Insurance.