What is Payment Protection?

Payment Protection is an optional insurance product that helps protect your Fig personal loan in case unexpected events affect your ability to make payments. This coverage can offer peace of mind by reducing or paying off your loan balance if certain life events occur.

At Fig, we partner with Walnut (our technology vendor) and Trans Global Insurance (TGI, our insurance provider) to offer this valuable coverage.

Important: Currently, only new applicants can enroll in Payment Protection during the loan application process. We are working to make this option available to existing customers in the future.

What Does Payment Protection Cover?

Payment Protection includes four types of coverage:

1. Life Insurance

• Pays off your remaining loan balance (principal and interest) if you pass away.

2. Critical Illness Insurance

• Pays off your outstanding loan balance if you're diagnosed with a covered critical illness.

3. Disability Insurance

• Covers your monthly loan payments (typically for up to 12 months) if you're unable to work due to a disability.

4. Job Loss Insurance

• Covers your monthly loan payments (up to 12 months) if you lose your job. Self-employed individuals are also eligible for job loss coverage.

Who is Eligible for Payment Protection?

To qualify for Payment Protection, you must meet the following requirements:

• Be the primary borrower on a Fig loan
• Be a resident of Canada
• Be at least 18 years old
• Be a new loan applicant

How Do I Enroll in Payment Protection?

You can enroll in Payment Protection during your loan application. During the application process:

• You'll see the option to add Payment Protection.
• You'll receive clear information showing your monthly loan payments with and without coverage.
• You can make an informed decision based on your financial situation.

Note: If you choose not to enroll in Payment Protection during your application, you will not be able to add it to your loan at a later date.

Where Can I Find My Insurance Certificate?

After your loan and Payment Protection coverage are approved:

• Log in to your Fig Account online.
• You can access all your loan documents, including your insurance certificate.
• If you need help logging in, visit our help centre article: Your Fig Account

Special Information for Quebec Residents

Quebec customers can download the Product Summary and Fact Sheet for Payment Protection here: Download the document.

Who Should I Contact for More Information?

If you have any questions about Payment Protection coverage, please contact:

Trans Global Insurance Company / Trans Global Life Insurance Company

• Phone: 1-844-930-6022
• Email: clientcare@transglobalinsurance.ca

Important Claims Information

• All claims are reviewed and processed by Trans Global Insurance (TGI) according to their policies.
• Fig does not have the authority to approve or deny claims.
• TGI makes all final decisions on claims based on the terms and conditions of your coverage.

For full details about your insurance coverage, please review your insurance certificate and policy documents.