CREDIT PROTECTION

 Credit protection in Ontario helps safeguard your financial stability by covering loan or mortgage payments in the event of unexpected hardships like job loss, disability, or death. It offers peace of mind knowing your debts will be managed during difficult times, protecting both your credit score and your assets. This type of coverage can be tailored to different needs, including life, critical illness, or income loss protection. Premiums are usually added to your monthly payments, making it easy to maintain coverage without extra hassle. In the case of a claim, the insurer pays directly to the lender, reducing or eliminating your financial obligation. Credit protection ensures your family and home are shielded from sudden financial stress.   Credit protection can also help prevent foreclosure or repossession by keeping payments up to date during challenging periods. By maintaining your creditworthiness, it supports your ability to secure future financing and financial opportunities.