You've chosen to finance your car and plan on enjoying it for a long time to come. As you will insure it against potential damage in the event of an accident, you should also consider insuring your loan. You can't predict a collision, just like you can't predict what else life has in store for you. National Bank Insurance is here to help you get behind the wheel with peace of mind.
When you were shopping for your new car, price was surely a factor. You calculated your ability to make your monthly payment for your National Bank car loan before making your final decision. If all goes according to your calculations, you won't have any problems. However, did you calculate the effect that a loss of income would have on your budget? Anyone can fall victim to an accident or be forced to stop working. That's where disability insurance comes in.
A disability means you are unable to work. The causes can be as diverse as a simple illness, a sports injury or tripping on the sidewalk. It can also be the result of an injury due to a car accident. Whatever the cause, disability insurance will relieve you from the burden of having to make loan payments during your recovery.1
You may not think you need disability insurance because you have income replacement insurance. However, it generally will not cover your entire income after a certain period of time. Disability insurance will cover your insured loan payments so that you can focus on your recovery or on changes you need to make to your lifestyle.
Most of us would rather not think about it, but in the event of your death, your car loan could become an additional burden for your loved ones. With life insurance, the insured balance of your personal loan will be repaid in full. This will make life a little simpler for your loved ones in the event of your death.