It is human nature to think that nothing will ever happen to us and "bad things" somehow are more likely to happen to other people. Let's face it - just because you still have those Superman underwear, doesn't necessarily mean you carry all his powers.
Creditor insurance is offered with most personal and small business lending. Creditor insurance is a very powerful product to protect against monthly repayment default. If something unfortunate was to happen to you such as an accident or involuntary unemployment your monthly payments would be covered, saving you from financial ruin.
Deposit Insurance Corporation of Ontario
The Deposit Insurance Corporation of Ontario (DICO) protects member deposits in case of financial institution default.
Your deposits are automatically insured up to $100,000; with no limit on registered savings plans. There is no member paid premium for the insurance.