iA-SAL, a division of Industrial Alliance Insurance and Financial Services Inc (iA), has specialized in creditors’ group insurance for over 50 years. iA-SAL introduced the first accident and health plans to Canada’s auto dealers in 1963, and has been leading the way ever since. Since its inception, iA-SAL has continued to diversify and explore new product opportunities: extended warranty, appearance protection, tire and rim protection, anti‐theft etch programs, GAP, loss of employment, and critical illness programs.
iA-SAL’s creditor insurance, also known as loan repayment insurance is one of the most comprehensive loan repayment insurance of its kind. The best way to achieve peace of mind is to plan ahead. So it’s good to know that the insurance coverage you choose will reduce the financial impact of life’s unexpected challenges, on you and your loved ones, should anything happen to you:
Life Insurance coverage – If you were to suffer a fatal injury or illness, life coverage will pay off the insured portion of your loan. This means that your family can keep the asset and not have the strain of heavy monthly loan payments.
Critical Illness coverage – If you are to become diagnosed with a covered condition, critical illness coverage provides a lump sum payment that will pay off the insured portion of your loan. A ‘living life’ benefit, critical illness insurance is designed to eliminate the financial strain of the loan, giving you the freedom to focus on getting well.
Disability coverage – If you become disabled and unable to work, the disability coverage will take care of your insured monthly loan payments, allowing you to focus on getting better and back to work. You can choose the type of disability plan (accident and sickness or accidental disability plus loss of employment coverage), and the length of the waiting period that works best for you and your budget.
Balance Shortfall coverage – A unique program covering the balance shortfall (in full or in part) in the event the unexpected were to happen to you. Balance Shortfall is the difference between the amount you owe to the finance institution and the value of your vehicle.
Depending on the program that you choose and the covered event, you may have the option to keep your vehicle and either have 50% of your balance shortfall paid or have monthly payments made on your behalf. Or you may have the option to return your vehicle to the dealership and have the balance shortfall paid in full. Whether you choose to return or keep your vehicle, Companion Clear and Companion Clear Plus give you the freedom and the peace of mind to deal with life’s winding roads.
SAL Protection Plan (SPP)
SAL Protection Plan is a comprehensive line of extended service contracts available for various assets, including:
- Recreational Vehicles and Travel Trailers
- Motorcycles, Scooters, ATVs, Snowmobiles
- Personal Watercrafts
Each program has a variety of plans to choose from. With a deductible that can sometimes be as low as $ 50 and a list of options that can include 24/7 Roadside Assistance, Rental Services, Trip Interruption Expenses, coverage for Diesel Engines, Guaranteed Price Refund, Contract Transferability in case of asset resale and Deductible Reduction if you return to the selling dealership for repair, protecting your investment has never been easier!
SAL Protection Plan is your best protection against the cost of future repairs. Ask about the options, plans and benefits available…and then leave the worries to us.
Industrial Alliance Group of Companies (iAG)
Industrial Alliance Insurance and Financial Services Inc. (Industrial Alliance) takes pride in belonging to the Industrial Alliance Group (iAG). Our products and services are offered on an individual or group basis. Industrial Alliance distinguishes itself through the personalized service of its professional representatives who are attentive to their clients’ ever-changing needs. Thanks to its dynamic approach, Industrial Alliance has become a financial group of Canada wide importance—the Industrial Alliance Group—with operations across the country. The Group conducts its life and health insurance activities through Industrial Alliance in Quebec City, Toronto and Vancouver
The Industrial Alliance Group:
- Was founded in 1892
- Is the 4th largest life and health insurance company and one of the 100 largest public companies in Canada
- Has $49.5 billion assets under management and administration
- Is responsible to over 80,000 shareholders
- Insures over 3 million Canadians
- Employs over 3,400 people
- Has a network of 1,600 exclusive agents and 12,000 brokers
- Is a member of the Canadian Life and Health Insurance Compensation Corporation, Assuris – an industry organization established to provide protection to the policyholders of member companies
- Is committed to the highest standards of conduct, safe investment principles, and prudent managementFinancial ratings
iAG holds the “A” (Excellent) rating from the A.M. Best Company, an independent organization which continually assesses the financial strength, earnings and capital position of life insurance companies.
The Best “A” (Excellent) rating is given to companies who have achieved excellent overall performance and demonstrated a strong ability to meet obligations to policyholders over a long period of time.
iAG earned Standard & Poor’s Issuer Credit Rating and Financial Strength Rating of “A+” for its overall financial capacity (its creditworthiness) to pay its financial obligations.
Community Involvement and Charity Support
Industrial Alliance proudly supports many regional and national charities and proudly donates at least 1% of our pre-tax profits to charitable organizations.
Over the years we have contributed to a variety of different organizations, small and large. Some of the organizations and events we currently sponsor are:
- Canadian Cancer Society
- Leukemia and Lymphoma Society
- United Way of the Lower Mainland, BC
- ChariTREE Foundation
- Arts Club Theatre Company
- MusicFest Vancouver
- Vancouver Symphony
For more information on iA-SAL and iA visit www.iasal.ca