Do you have family responsibilities and dependants who rely on your income? Is your total debt load more than 25% of your income? Meeting your loan payments without your income can cause financial stress for your whole family. Additional medical, childcare, or housekeeping costs can be an extra burden if your income is reduced due to accident or illness. Protect your savings with loan insurance.

Credit life, disability & critical illness insurance can protect you and your family from the unexpected.


Choice of life, disability, & critical illness insurances.

  • Available for single or joint coverage (guarantors or co-signers included)
  • Premiums can be added to borrowed amount
  • Protects credit rating and security
  • Flexible choice of single or joint coverage
  • Convenient with benefits paid directly to North Sydney Credit Union on your behalf

Credit Life Insurance

  • Maximum Coverage $90,000.00 per certificate
  • Maximum Term 180 months
  • Maximum Issue Age 69
  • Coverage ceases at age 75
  • All borrowers under age 70 qualify

Credit Critical Illness Insurance

  • CUMIS Insurance will pay your insured loan, up to $90,000.
  • Critical illness; heart attack, stroke, cancer.
  • Maximum Term 180 months
  • Maximum Issue Age 59
  • Coverage ceases at age 75

*A Critical Illness Benefit will not be paid for a diagnosis of cancer if you had any cancer at any time before the "effective date of insurance" shown on you insurance enrolment.

Credit Disability Insurance

  • Maximum Monthly Coverage $1500.00 per certificate
  • Maximum Issue Age 69
  • Elimination Period 30 Days
  • Maximum Benefit Period 72 months per occurrence
  • Maximum Term 180 months
  • Coverage ceases at age 75
  • Temporary or permanent disability
  • Premiums can be financed with your loan or paid with cash at time of loan application.

*You must be working 20 hours per week prior to loan date to be eligible.  If borrow is not working on loan date, coverage will begin once he/she returns to work for two consecutive weeks.

For more information please contact North Sydney Credit Union at 902-794-2535 or visit