How to Cancel Your Payment Protection Coverage

Can I Cancel My Payment Protection?

Yes. You can cancel your Payment Protection coverage at any time since it is completely optional.

At Fig, Payment Protection is offered as an optional feature to give you added financial security on your personal loan. If you've enrolled in Payment Protection but wish to cancel, here’s everything you need to know.

Refund Policy

Depending on when you cancel, you may be eligible for a refund of your premiums:

1. Cancelling Within the First 30 Days

• You are eligible for a full refund of all premiums paid if you cancel within 30 days of enrollment.
• This applies as long as you haven't made any claims.

2. Cancelling After 30 Days (or 60 Days in Quebec)

• If you cancel after:
  • 30 days (outside Quebec), or
  • 60 days (in Quebec),
• You will not be entitled to a refund for premiums already paid.

Please consider these timelines when deciding whether to keep or cancel your coverage.

How to Cancel Your Payment Protection

To request a cancellation:

1. Send an email to support@fig.ca.
2. Include a written confirmation clearly stating that you wish to cancel your Payment Protection coverage.
3. Once we receive your written consent, we will process your cancellation request.

Important: Once you cancel Payment Protection, you cannot add it back to your existing loan later.

Need Assistance?

If you have any questions or need help with the cancellation process, simply email our customer support team at support@fig.ca.