Other Insurance
 


Outstanding Balance Insurance for MERITline™

Why take the Risk? Outstanding Balance Insurance is designed to help cover the amount you owe on your MERITline.  You purchase only the amount needed to cover your outstanding balance – so you never pay for more coverage than you need.  In the event of death, the balance owing may be paid down or paid out.

How do I pay the Premium? For your convenience, the monthly premiums are automatically deducted from your chequing account at the Credit Union.  Like the Line of Credit, premiums are calculated based on your average balance from the previous month.  You only pay for what you are using, not the approved amount.

Is there a medical questionnaire? A medical questionnaire will need to be answered at the time of application.  All medical questionnaires are kept confidential between the member and the insurance company and insurance coverage takes effect once approved.

Level Term Insurance

Why take the Risk? Ten year Level Term Insurance can be beneficial as it does not need to be tied to a specific loan product and may pass as a benefit to a designated beneficiary.  It allows members to insure a variety of debts, such as farm equipment, home or vehicle purchase, and/or a line of credit all under one single policy.  The debt may fluctuate, but the policy will remain constant.

How do I pay the Premium? For your convenience, the monthly premiums are automatically deducted from your chequing account at the Credit Union.  Your monthly premium will remain in effect for the 10 year term, at which time the premium will be renewed for another 10 year term at a new premium based on your age at that time.

Is there a medical questionnaire? A medical questionnaire will need to be answered at the time of application.  All medical questionnaires are kept confidential between the member and the insurance company, and insurance coverage takes effect once approved.  A medical questionnaire does not need to be answered on subsequent renewal dates.
 

Credit Life and Disability Insurance
Coverage is underwritten by Canadian Premier Life Insurance Company. Canadian Premier Life Insurance Company is a member of AEGON Insurance Group, which enjoys some of the highest ratings from Standard & Poor’s, A.M. Best Company, Fitch Ratings and Moody’s Investor Service, based on financial strength and operating performance.

 

SecureChoice™ Insurance Plans* - coverage designed for your life

Members of The Energy Credit Union are now eligible for vital SecureChoice insurance plans. This coverage provides important protection that's specific to your needs - so if the unexpected happens, your family will receive additional support. Please click below for more information.
 




 


 

Travel insurance 

Feel secure knowing the unique coverage and service offered by CUMIS Travel Insurance Program  was designed just to meet the needs of credit union members.

 Why purchase travel insurance? When travelling outside your home province,territory or country, your government healthcare plans don't travel with you. Travel insurance bridges that gap in coverage to help you stay protected during a medical emergency. Be sure to carry travel insurance to safeguard your finances and enjoy a worry-free trip.

  • You become sick or ill while travelling
  • You need to cancel your trip
  • Your Credit Card Insurance coverage has limitations


You can obtain coverage by calling CUMIS Advisor Link and speaking to a licensed travel insurance advisor.
A licensed insurance advisor will issue the plan, answer your coverage and eligibility inquiries.
 
Please be sure to mention the Energy Credit Union Code 2507
Licensed Insurance Advisors can be reached at 1-877-885-2847
Monday to Friday, 8 am to 10pm EST
Saturday & Sunday, 9 am to 5 pm EST

 

Other benefits include:

  • Pay according to your destination
  • Assistance with lost or stolen travel documents
  • Secure quick application
  • 24/7 access to multi-lingual emergency travel assistance
  • Exceptional claims service when you need it most
  • Convenient multi-trip plans ideal for frequent travellers including unique 8-day

Not a member? Get in touch with us today. Call 416-238-5606 or visit a branch. Stay protected and enjoy a worry-free trip.

This information is for iiiustration purposes only. It is not an insurance certificate. For complete terms, conditions, limitations and exclusions, please see the policy booklet. Please read and understan your rpolicy.