cafii  Making Insurance Simple and Accessible for Canadians

Making Insurance Simple and Accessible for Canadians

About CAFII

The Canadian Association of Financial Institutions in Insurance (CAFII) is a not-for-profit industry association dedicated to the development of an open and flexible insurance marketplace. CAFII was established in 1997 to provide a voice for financial institutions involved in selling insurance through a variety of distribution methods. CAFII believes consumers are best served when they have easy access to insurance, meaningful choice in coverage options, and competitive pricing.

Creditor Insurance

Creditor’s Insurance, also called (credit insurance or creditors group insurance) pays off an outstanding credit balance or makes/postpones debt payments on the customer’s behalf in the event of death, disability, job loss or critical illness. Creditor’s Insurance provides individuals and families with peace of mind that debts will not become a burden if unexpected events should occur. For example, Creditor’s Insurance on a mortgage will pay off the debt in full if the income earner dies, thus ensuring that the surviving family members do not lose their home.