Below is a complete overview of the Loan Payment Protection Program (Payment Protection) offered with Fig. This comprehensive optional insurance is underwritten by Trans Global Insurance Company and Trans Global Life Insurance Company and is designed to offer coverage for various unexpected life events.

What does the Loan Payment Protection Program cover?

If eligible, the Loan Payment Protection Program provides the following coverages up to an aggregate maximum benefit of $35,000:

Involuntary Unemployment

• If you lose your job, the coverage may make up to 12 months of payments toward your outstanding Fig loan balance.
• Total payments cannot exceed the lesser of your loan balance or $35,000.
• Coverage also applies to self-employed individuals.

Disability

• If you become disabled and are unable to work, the coverage may make up to 12 months of payments toward your loan balance.

Critical Illness

• If you or your spouse are diagnosed with a covered critical illness for the first time and survive at least 30 days after diagnosis, the insurance will pay Fig an amount equal to your outstanding balance, up to $35,000.
• In Quebec, this benefit applies only to the primary borrower.
• Covered conditions include:
  • Cancer (life-threatening)
  • Heart Attack
  • Stroke
  • Coronary Artery Bypass Graft
  • Kidney Failure
  • Major Organ Transplant
• This benefit is only paid once.

Life with Dismemberment

• If you or your spouse die or suffer dismemberment, the coverage will pay Fig an amount equal to the outstanding balance, up to $35,000.
• In Quebec, this benefit applies only to the primary borrower.
• If death or dismemberment occurs to both borrower and spouse at the same time, only one benefit will be paid.

After age 65 (or 71 in British Columbia), the program only covers accidental death, and death must occur within 90 days of the accident.

Who is eligible for Payment Protection coverage?

To be eligible, you must be:

• A primary loan borrower with Fig Financial Inc.
• A Canadian resident
• At least 18 years of age

Who is covered under the policy?

• Life with Dismemberment and Critical Illness: Cover both the primary borrower and spouse, except in Quebec (primary borrower only).
• Disability and Involuntary Unemployment: Cover only the primary borrower.

How do I qualify for the specific benefits?

Involuntary Unemployment

To qualify:

• You must be insured under the policy and working full-time (25+ hours/week) on a permanent basis at the date of loss.
• You must be involuntarily unemployed for more than 30 consecutive days.
• Your employer must have been paying Employment Insurance (EI) premiums to the CRA.
• You must be insured for at least 30 days after your enrollment date.

Disability

To qualify:

• You must be insured and working full-time or self-employed (earning taxable revenue under the Income Tax Act).
• You must be totally disabled for more than 30 consecutive days.
• You must be regularly attended by a licensed physician (not yourself), who certifies that you're unable to work in any job for which you are reasonably suited.

Critical Illness

To qualify:

• The date of first diagnosis must be before age 65.
• The illness must be one of the following: Cancer, Heart Attack, Stroke, Coronary Artery Bypass Graft, Kidney Failure, or Major Organ Transplant.
• The illness must not have been diagnosed before coverage started or within 90 days of the coverage start date.
• You must submit proof of loss within 90 days of the first diagnosis.

Life with Dismemberment

To qualify:

• Dismemberment must result from accidental injury, directly and independently, causing total loss of sight in both eyes or complete severance of a hand or foot.
• Death must not result from a pre-existing condition if it occurs within 6 months of the coverage effective date.
• Claims must not fall under any exclusions listed in the policy.

How much does Payment Protection cost?

• Premiums are calculated at 15% of your regular principal and interest payment, plus applicable taxes.
• The premium is payable at the same frequency as your loan payments.

When does the insurance start and end?

Start:

• Coverage begins when your enrollment is received by Trans Global Insurance, typically on the date your loan is finalized.

End:

Your coverage ends on the earliest of:

1. The date Fig or Trans Global receives your written request to cancel.
2. 31 days after TGI sends you written cancellation notice.
3. The date your Fig loan is terminated.
4. The date you are more than 31 days late on a payment.
5. If you deferred a payment, the date you are more than 31 days past due from your last contractual due date.

What exclusions and conditions apply?

General exclusions include:

• Intentionally self-inflicted injury
• Suicide or attempted suicide
• Alcohol, drug, or solvent abuse
• Criminal acts
• War or military service
• Terrorism involving nuclear, chemical, or biological contamination

Pre-existing Conditions:

• No disability benefit is paid if your condition was diagnosed or treated within 6 months prior to coverage start.
• No death benefit is paid if you die from a pre-existing condition within 6 months of the coverage start date.

Refer to the Certificate of Insurance for full terms.

What if I already have insurance?

Payment Protection is designed to complement other coverage you may already have.

What if there’s a misrepresentation in my application?

If you misstate your age, the insurer’s liability is limited to refunding all premiums paid. No benefits will be paid.

Can I cancel my Payment Protection coverage?

Yes, this coverage is completely optional.

Cancellation within 30 days (60 days in Quebec):

• Full refund of any premiums paid.

Cancellation after 30 days (60 days in Quebec):

• No refund is issued.

How to Cancel:

• Through Fig: Email support@fig.ca with written confirmation.
• Through Trans Global Insurance:Complete and submit a cancellation form to:

  • Trans Global Life Insurance Company and Trans Global Insurance Company

    Suite 275, 16930 114 Ave NW, Edmonton, AB T5M 3S2

    Phone: 1-844-930-6022

    Email: clientcare@transglobalinsurance.ca

How do I make a claim?

Contact Trans Global Insurance:

• Phone: 1-844-930-6022 (8:00 a.m. to 5:00 p.m. MST)
• Email: clientcare@transglobalinsurance.ca
• Mail: TRANS GLOBAL INSURANCE GROUP, 16902-137 Ave. NW, Edmonton, Alberta, T5V 0C8

How do I file a complaint?

If you're not satisfied with the handling of your claim or inquiry:

• Call 1-844-930-6022 (Mon-Fri, 8:00 a.m. to 5:00 p.m. MST)
• For details on TGI's complaint resolution process, visit: https://transglobalinsurance.ca/resolving-complaints/

Who can I contact with questions about Payment Protection?

For questions or more information:

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