CashMoney loan Insurance, Cash Money loan protection, how to apply, eligibility criteria & requirements
CashMoney offers various types of loans to its customers based on their requirements. the loan can be of short terms and for long terms as well. Along with providing loan Cash money also provide loan protection. In this article, we will cover What is Cash Money Loan Insurance | Cash Money Loan Protection?
Cash Money loan protection plans have various features and benefits. we will discuss them in a while.
Let’s brush up about the Cash Money in short…
What is Cash Money?
CashMoney is a digital platform that offers various loans like Installment Loans, Instant Payday Loans, Line of Credit Loans, Personal Loans, etc.
CashMoney is a safe short-term loan and long-term loan direct lender that makes it easy for Canadians to borrow money online in minutes.
It provides fast, easy, immediate same-day loans that can be credited to your bank account in an hour or less.
It is a legitimate Canadian lender that provides loans online to Canadians in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Ontario, Saskatchewan, and Nova Scotia.
It is a member of the Canadian Consumer Finance Association (CCFA) member hence committed to providing the best possible loan experience.
Types of Loans Offered By Cash Money
Cash Money offers various types of loans. the Major ones you can find below.
Personal Loans: It is further divided into 3 parts.
- Payday Loans
- Installment Loans
- Line of credit Loans
CashMoney provides loan protection for Installment loans and Line of Credit Loans. Let’s understand a bit more about Installment loans & Line of Credit Loans.
CashMoney Installment Loans
It allows you to pay back the loan amount in several payments rather than all at once.
Installment loans offer more money than payday loans and allow you to pay your principal and interest back over several payments, rather than all at once. Cash Money offers installment loans up to $10000.
With a Cash Money installment loan, you have the option to pay back your loan in full at any time, without penalties or fees. If an unexpected expense just came, don’t worry – a Cash Money loan can help you.
NOTE: Cash Money only offers installment loans and Line of Credit Loans to the selected province. make sure to check.
CashMoney Line of Credit Loans
A line of credit loan is a flexible type of loan that allows you to get the full amount of your approved credit limit or just part of it.
You have to pay the interest-only for the amount and time you choose to borrow. you do not have to receive all the cash at one time since it will be available on an ongoing basis.
The loan stays open as long as you need it. Borrow, pay back, and borrow again if needed. And you only pay interest on the funds you use for the amount of your approved credit limit.
Now that we have an idea about Installment loans, let’s discuss what is Loan protection or Loan insurance in Cash money installment loans.
What is Cash Money Loan Protection?
In short, you can say it is like insurance provided by Cash money on the approved installment loan amount.
Loan protection covers your loan in the event that you are unable to meet your financial obligations due to unexpected events such as loss of life, critical illness, injury, or unemployment.
The optional Loan Protection Plan is a Credit Group Insurance Plan underwritten by the Canadian Premier Life Premier Services Group.
Featutes of Cash Money Loan Protection Plan
- It helps you to ensure you, your family, your assest etc.
- Your credit rating will also be safe.
- The enrollment is very simple. just you have to check a box while applying for an installment loan.
- You can claim your insurance quickly. Most claimed decission are made within 3 days of receipt of completed claim.
Eligibilty to get CashMoney Loan Protection Plan
- Must be between the ages of 18 and 69 years.
- You must be a Citizens of Canada.
CashMoney Loan Protection Coverage
Loan protection will cover you from the following unsecured or unexpected events.
(If you are unemployed without
cause or due to layoff)
|Payments made for up to 6 months|
(not to exceed your remaining principal balance or $2000)
|Critical Illness||100% payment (of your remaining principal balance)|
|Accident/Illness (If you are injured or ill)||Payments made for up to 6 months|
(not to exceed your remaining principal balance or $2,000)
|Loss of Life||100% payment (of your remaining balance)|
CashMoney Loan Protection Claim Forms
You can download the Cash money loan protection claim form by visiting the official website. Click here to download the required forms.
How much is the loan Protection?
The cost of loan protection depends upon the amount of your loan payment. For example, a $3500 loan with monthly payments would cost $47.25 per payment for insurance.
How Can I Claim CashMoney Loan Protection?
- Visit CashMoney official Website and click on the Log In button on the top Right hand side.
- On the next page log in using your registered email address and Password.
- Once you logged in your account successfully look for claim option.
- Follow the instructions to complete your claim submission.
You can also file a loan protection claim by downloading the required claim form from the official website and emailing them to firstname.lastname@example.org after filling in the details.
CashMoney Customer Care Details
In case if you need any assistance while claiming your loan protection, contact them as per the below-mentioned details.
|Customer Service Facility||Number/Address/Email|
In this guide, we have discussed What is Cash Money Loan Insurance | Cash Money Loan Protection. I hope the information will be useful to you.
It is better to have loan insurance or protection as it covers your payments in the unexpected event you experience like involuntary unemployment, loss of life, or disability.
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No, making a claim will not increase your Loan Protection premiums.
Cash Money does not provide loan protection but it’s the Canadian Premier Life Premier Services Group that provides the insurance working with Cash money.