A: The LPPP is a comprehensive optional insurance program available to customers on approved Parachute loan applications submitted to Trans Global Insurance company and Trans Global Life Insurance Company, who have requested the coverage, agreed to pay the premium, and continue to pay premiums on a timely basis.

A: If you are eligible, the LPPP provides the following coverages in connection with your Parachute Loan account:

Involuntary Unemployment coverage:

If you lose your job, the coverage could make up to 12 months of payments, based on your payment frequency, towards your outstanding Parachute balance. This coverage also extends to self-employed individuals.

Disability coverage:

If you become disabled and unable to work, the coverage could make up to 12 months of payments towards your outstanding Parachute balance.

Critical Illness coverage*:

If you or your spouse become diagnosed with a Critical Illness for the first time and survive that First Diagnosis for at least 30 days, the coverage will pay Parachute, an amount equal to the Outstanding Balance at the date of First Diagnosis of the Critical Illness, to a maximum of $25,000.

Death or Dismemberment coverage**:

The coverage will pay Parachute, on Your behalf, upon due proof of the death or dismemberment of You or Your spouse occurring after the Effective Date, and while You are covered under the Policy, an amount of insurance equal to the Outstanding Balance of Your Parachute loan amount at the date of death or dismemberment to a maximum of $25,000. If the death or dismemberment of You and Your Spouse occurs simultaneously, only one benefit will be paid.

*The Critical Illness benefit will be paid only once. When You are simultaneously disabled, involuntarily unemployed or involuntarily unemployed as a self-employed, You are entitled to benefits only under one coverage.

** Before the age 65 (71 in BC), the Loan Payment Protection Program does not require that death arise from accidental circumstances. Beginning from age 65 (71 in BC) and thereafter, the LPPP only provides coverage if death arises from accidental circumstances and death must occur within 90 days of the accident.

A: • A Parachute Primary Loan Borrower
• A Canadian resident
• A person at least 18 years of age

A: • The Life and Dismemberment and Critical Illness coverages are available to the primary Borrower Loan and their Spouse.
• The Disability and Involuntary Unemployment coverages are available only to the Primary Loan Borrower.
• The Primary Loan Borrower is the individual whose name appears first on the Parachute loan agreement (“Borrower”)

A: The cost for Loan Payment Protection Plan will be calculated by taking the Premium Rate of 10% multiplied by your regular principal and interest payment, plus applicable taxes payable bi-weekly or monthly as outlined in your Parachute loan agreement. If your loan balance is zero, your required premium payment would be zero.

A: General exclusions from the coverage include: • intentionally self-inflicted injury;
• attempted suicide;
• drug, alcohol or solvent abuse;
• the commission, or attempted commission, of an illegal act; or
• military service, declared or undeclared war, or any nuclear, chemical, or biological contamination resulting from an act of terrorism.
For more information on coverage specific exclusions and conditions of coverage, please see the a sample copy of the certificate of insurance at https://transglobalinsurance.ca/insurance/other or https://www.myparachute.co/LPPP

A: When the insurance starts
The effective date of the Loan Payment Protection Program is the date that Trans Global Insurance Company and Trans Global Life Insurance Company receives your application for insurance.

A: When the insurance ends
On the sooner of
• The next payment date after the Insured or the Company receive the Insured Debtor’s written request to end the insurance coverage.
• The date that is thirty-one (31) days from the date the Insured Debtor has been given notice by the Insured or the Company of termination of this Policy.
• The date when the Insured Debtor’s Financing Contract is terminated.
• The date when the Insured Debtor is more than thirty days (30) delinquent in making any required payment in respect of his or her account.

However, the insurance ends for all insured people in the event of death. See the Certificate of Insurance at https://transglobalinsurance.ca/insurance/other/ or https://www.myparachute.co/LPPP for more details.

A: Loan Payment Protection Program is optional, and you can cancel it at any time. If you cancel within the first 30 days, the premiums you paid will be refunded to you. If you cancel any time after 30 days, you will not be entitled to any refund of premiums charged.

A: The LPPP is designed to complement any existing protection by paying in addition to any other coverage you may have.

A: To make a claim, follow these steps to contact Trans Global Insurance:

• By calling 1-844-930-6022 between 8:00 a.m. and 5:00 p.m. (MST)
• By email clientcare@transglobalinsurance.ca
• By written notice to TRANS GLOBAL INSURANCE GROUP, Suite 275, 16930-114 Avenue, Edmonton, AB T5M 3S2.

A: To make a complaint, follow these steps:

• If for some reason you are not satisfied with the resolution to an inquiry or dissatisfaction, please call 1-844-930-6022 between 8:00 am and 5:00 pm (MT), Monday to Friday.
• Should you require more information regarding the Insurer’s complaint handling procedure, please visit Trans Global Insurance website to view the complaint resolution processes which can be found at: https://transglobalinsurance.ca/resolving-complaints/

A: If you have any questions about this insurance coverage, contact Trans Global Insurance at 1-844-930-6022.