Product description
Eligibility requirements
Belong to an occupation class other than “X” and work:
- 30 hours a week at least 35 weeks per year OR
- 24 to 29 hours a week and at least 40 weeks per year OR
- 21 hours a week on regular and continuous basis
Restrictions for pregnant women in their 3rd trimester only:
- 90-day waiting period
- 2-year benefit period
Individuals on parental leave are eligible to SOLO Loan Insurance without restrictions.
Occupation class
Issue age (age to the nearest birthday)
- T65: 18 to 60
- T10: 18 to 50
Waiting period
- 30 days
- 60 days
- 90 days
- 120 days
The monthly amount is paid on the first day in the event of hospitalization or day surgery, except if the insured is unemployed at the time of the disability.
Benefit period
- 2 years
- 5 years
- Up to age 65
- Business loan: 2 or 5 years
- Rent: 2 years
Monthly amount
- Minimum: $400
- Maximum: $5,000 depending on the occupation class ($3,500 for occupation class B)
Premium structure
- Term 65: Level up to age 65
- Term 10: Level for 10 years
The premium structure may be changed from T10 to T65 while the contract is in-force.
End of coverage
The coverage will terminate when the first of the following events occurs:
- Death of the client
- Policy anniversary nearest to age 65
- Policy lapse
- Date of the exchange of SOLO Loan Insurance to SOLO Disability Income
- Bankruptcy of the client, or that of the company for a business loan
Renewal
- Guaranteed renewable up to age 65
- Continuation of coverage after age 65
Total disability definition
- Regular occupation 24 months
Recurrent disability
- 12 months: occupation classes 3A and 4A
- 6 months: occupation classes B, A, 2A
Built-in benefits
- Payable amount at death of 5x the monthly amount on contract
- Eligibility to receive monthly amounts as of the first day of hospitalization or day surgery
- Exchange privilege of SOLO Loan Insurance to SOLO Disability Income
- Organ donation after 6 months
- Presumptive total disability
- Rehabilitation
- Waiver of premiums
- Recurrent disability
- Based on their insurance coverage, complimentary assistance services are available at any time for your clients and their loved ones:
- They can use them when times are good, or when times are bad.
- 24/7 phone assistance services is also available.
The assistance services are not a contractual obligation of Desjardins Insurance.
Additional coverages
- Partial disability
- Future insurability option
- Regular occupation period extender
