Tricare Debt Protect

Provides an innovative and cost-effective way to ensure your credit stays protected if an unexpected life event occurs.

Protect Your Credit and Financial Well-being From Unexpected Life Events

Tricare Debt Protect offers cost-effective Life, Critical Illness, Disability and/or Accidental Plus insurance, each with unique coverage options.

Depending on the Tricare Debt Protect coverage that you choose, you may have the option to either:

  • Keep your vehicle, with your payments being made for up to 12 months and up to the stated policy amount.
  • Return the vehicle and the balance shortfall will be paid to the stated policy amount.
    • The balance shortfall means the difference between the amount owing to the financial institution under your finance contract and the vehicle’s value.

Life Insurance Coverage

This benefit will allow for the return of the vehicle to the dealership and the balance shortfall paid to the maximum benefit amount, in the event of death.

Critical Illness Coverage

This benefit allows for the return of the vehicle to the dealership and the balance shortfall paid to the maximum benefit amount, in the event you are diagnosed with a covered critical illness.

Disability Insurance Coverage

This benefit will make your monthly vehicle payments for up to 12 months and up to the stated policy amount if you become totally disabled due to injury or sickness. If and when the monthly benefit is exhausted, you have the option to return the vehicle to the dealership and the balance shortfall will be paid to the maximum benefit amount.

Disability and Loss of Employment Insurance Benefit (Accidental Plus)

Accidental “Plus” Insurance includes both Disability insurance, if you become totally disabled solely due to an injury, and Loss of Employment Insurance. This policy will cover your monthly payments for up to 12 months and up to the maximum benefit amount.

If and when the monthly benefit is exhausted, you have the option to return the vehicle to the dealership and the balance shortfall will be paid in full to the maximum benefit amount.

Protect Yourself and Your Vehicle From Financial Hardship

38% of auto repossessions are caused by disability

Did You Know?

  • Of all loans that become delinquent in Canada, 3% are due to the unexpected death of the main household income earner, and 50% are due to loss of income relating to a disabling accident or illness.
  • Canadians aged 35 to 54 are hardest hit by unforeseen healthcare costs.
  • Canadians between the ages of 20 and 65 have a 50% chance of having a disability that lasts longer than 3 months.
  • 76% of working Canadians state serious financial effect for their family if disability keeps them out of work for 3 months.

Tricare Debt Protect provides you with peace of mind knowing that the coverage you select will protect you from financial hardship and the negative effects on your credit if you are unable to make your loan payments due to an unexpected life event.

Please ask your Tricor dealer for full program and contract details regarding qualifications, conditions, requirements and coverage.

Tricare Debt Protect is fully insured by licensed Canadian insurance companies.