Fairstone is a digital platform that offers various types of loans like Personal loans, Car and Auto loans, online loans to the people of Canada. It has over 250 branches across various provinces in Canada. Along with providing loans it also offers loan insurance facilities. Today we will learn What is Fairstone Loan Insurance | Fairstone Loan Insurance Claim?
We will also discuss how you can claim your fairstone loan insurance, various types of insurance offered by fairstone, etc.
Let’s start with a brief description of the fairstone.
Contents
What is Fairstone?
Fairstone is a digital platform that offers various loans like Car and Auto Loans, Online Loans, Mortgages, Personal Loans, etc to the citizens of Canada.
It is a safe short-term loan and long-term loan direct lender that makes it easy for Canadians to borrow money online within 24 hours.
It provides loans to the various provinces of Canada and hence the interest rate can vary from province to province.
It is a legitimate Canadian lender that provides loans online to Canadians in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Ontario, Quebec, Saskatchewan, Yukon, Prince Edward Island, and Nova Scotia.
Types of Loans Offered By Fairstone
Fairstone offers various types of loans. you can find them below.
- Car and Auto Loans
- Mortgages
- Online Loans
What is Fairstone Loan Insurance?
Fairstone Loan insurance is also termed creditor insurance that can help cover some or all of your loan payments in the event of an illness, disability, involuntary job loss, or death.
Insurance premiums are spread out over your loan payments, making it an affordable and manageable option.
Why do you need Fairstone Loan Insurance?
This is a very basic question. why do we need insurance? it is so simple. Nobody knows what is going to happen tomorrow.
In case is something unexpected happens and you have taken a loan without insurance, it will simply put an extra burden on your family.
To overcome all this loan insurance is the best option. It provides peace of mind for you and your family. And, it offers security in case of an unexpected event or reduction in your income.
Loan Insurance can even protect your credit score in case if you miss payments.
Now that we know about the Fairstone loan insurance and its importance to your life, let’s check out the types of insurance provided by fairstone.
NOTE: Insurance solutions provided by American Health and Life Insurance Company or Triton Insurance Company.
Types of Insurance Offered by Fairstone
It provides three types of creditor insurance for your loan.
1. Disability Insurance
2. Job loss Insurance
3. Life Insurance
Let’s discuss it one by one.
Disability Insurance
Creditor’s disability loan insurance can help cover your loan payments if you experience disability from an illness or injury that prevents you from working.
Already have short-term or long-term disability coverage through work? Most insurance policies will only pay a certain percentage of your salary.
Consider the additional medical expenses you may face if you become ill, You want to make sure that you have enough money coming in to cover your debts and support you or your family.
Disability insurance on your loan is the best way to protect yourself from the financial hardship of an illness or injury.
How to Claim Fairstone Disability Insurance Loan
Fairstone provides an easy way to claim your Disability loan insurance.
If you are submitting a claim for the first time, or have returned to work following a disability, and are submitting a claim for a new period, download the Disability claim form from the fairstone official website
If you have an existing claim for disability and your claimed payment has already been paid, you can download Continuing Disability Claim Form from the official website.
After downloading the form follow the steps below.
- Fill in all the details mentioned in the form.
- If any question is not applicable for you draw a line through the space provided for the answer.
- Attach a copy of the Loan Protection Insurance Application, the Credit Application and Ledger Cards # 1 & 2 or the Symphony equivalent.
- After finishing the above process attach all the document and send it to the below mentioned address.
Triton Insurance Company
1420-380 Wellington St
London, Ontario N6A 5B5
Telephone 800-285-8623 | Fax 877-772-2623
- Make sure to Keep a copy of the entire form and any attachments for any future reference.
- It will take around 15 days to process completely after going through the form details.
Job Loss Insurance
Creditor job loss insurance can help cover your loan payments if you become involuntarily unemployed.
Enjoy peace of mind knowing that your loan payments are covered and your credit is protected. Job loss insurance allows you to focus on finding a new job without the taking stress of making loan payments.
How to Claim Fairstone Job Loss Insurance
If you are submitting a claim for the first time, or have returned to work following a job loss, and are submitting a claim for a new period, download the Disability claim form from the fairstone official website
If you have an existing claim for job loss and your claimed payment has already been paid, you can download Continuing Disability Claim Form from the official website.
After downloading the form follow the steps below.
- Fill in all the details mentioned in the form.
- If any question is not applicable for you draw a line through the space provided for the answer.
- Attach a copy of the Loan Protection Insurance Application, the Credit Application and most recent transaction history.
- After finishing the above process attach all the document and send it to the below mentioned address.
Triton Insurance Company
1420-380 Wellington Street
London, Ontario N6A 5B5
Telephone 800-285-8623 | Fax 877-772-2623
- Make sure to Keep a copy of the entire form and any attachments for any future reference.
Life Insurance
Nobody knows what is future and what is going to happen so it’s better to cover you and your family with Life Insurance.
If you die before paying off your debt, creditor life insurance will pay off or reduce the amount of your loan outstanding, so your family doesn’t have to suffer.
This can help ease the burden on your family and protect their financial future during this difficult time.
How to Claim Fairstone Job Loss Insurance
Download the Life Claim form from the fairstone official website and follow the instructions below.
Attach the below-mentioned documents.
- A copy of the loan protection insurance application.
- Black and white screen prints of pages 1 and 2 of the ledger card screen.
- A black and white death claim payoff inquiry as of the date of death.
- A copy of the certified Death Certificate, Coroner’s report or funeral director’s statement.
If the certificate of insurance contains any health questions or details, ask the deceased’s kin to complete the next-of-kin authorization.
- After finishing the above process attach all the document and send it to the below mentioned address.
Triton Insurance Company
1420-380 Wellington Street
London, Ontario N6A 5B5
Telephone 800-285-8623 | Fax 877-772-2623
- Make sure to Keep a copy of the entire form and any attachments for any future reference.
- It will take around 15 days to process completely after going through the form details.
NOTE: Altered forms will not be accepted.
Conclusion
We have seen What is Fairstone Loan Insurance | Fairstone Loan Insurance Claim. I hope this will help you to claim fairstone loan insurance.
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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FAQs
Yes, It is completely optional.
It will take approx 15 days to process the completed claim forms.
You can call 1-800-285-8623 or email OMSInsuranceComplaints@omf.com if you have any questions related to fairstone loan insurance.
