Credit Security PlanTM - creditor’s group life insurance
Help protect your family’s financial security
The financial investment that you’ve made in your mortgage has allowed you to create a home for you and your family. It’s an important financial responsibility. And it’s one that could affect your family’s financial security if something happens to you.
Credit Security Plan is optional creditor’s group life insurance, underwritten by The Manufacturers Life Insurance Company (Manulife). It can help pay off or reduce your First National mortgage, should an unexpected death occur.
Credit Security Plan insurance may allow your family to have the security of a mortgage-free home.
- Coverage up to the amount owing on your First National mortgage (up to $1,000,000)
- Premiums based on group rates
- Co-borrowers are eligible to apply – potential for discounted joint premium rates
How it works:
- Your premium is based on your age when you apply, your original mortgage amount and amortization period, and does not increase due to changes in your health or because you get older.
- Your insurance can match the balance owing on your mortgage
- Your premium will be collected at the same time as your mortgage payment; First National forwards your premium to the insurer
To apply, you must be at least age 18 and under age 65, a resident of Canada*and be the borrower or co-borrower of a First National mortgage of $1,000,000 or less. Guarantors are not eligible to apply.
Read the brochure to learn more about Credit Security Plan insurance, calculate your monthly premiums and get answers to frequently asked questions. For more detailed information, you can also refer to the Certificate of Insurance.
* You must be a resident of Canada for income tax purposes, in accordance with Income Tax Folio S5-F1-C1, Determining an Individual’s Residence Status
*Credit Security Plan insurance is not available through this website to customers in Quebec. For information about Credit Security Plan life insurance in Quebec, please contact First National Financial LP to request a brochure regarding the Plan in that province.
The Manufacturers Life Insurance Company
Credit Security Plan™ insurance is a trademark of Benesure Canada Inc. (“Benesure”), and is used by it and its affiliates under licence. Benesure is a wholly-owned subsidiary of The Manufacturers Life Insurance Company (“Manulife”). Manulife is a trademark of The Manufacturers Life Insurance Company and is used by it and by its affiliates under licence. Manulife P.O. Box 4213, Stn A, Toronto, ON M5W 5M3. Group Policy GC327-FN.