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HuGO Debt Disability Insurance

A promotional offer on HuGO Life

You receive a monthly disability benefit to help you make your loan payments.

HuGO Debt coverage is an affordable and flexible alternative to products of financial institutions.

This is a unique insurance product:

  • Benefits are payable from the first day of a hospitalization or a day surgery.
  • Partial Disability allows for a progressive return to work based on your situation.

For more information on disability insurance to cover your debts, we encourage you to contact your advisor.

Benefits available

$400 to $1,500 per month (policyholder’s choice) to pay your debts.

Eligible debts

  • House or condo (loan or home equity line of credit, including property and school taxes)
  • Rent
  • Car loan or lease
  • Credit card and line of credit
  • Leveraged loan

Age limit upon purchase

Available to persons 18 to 59 years old (inclusive). Age at last birthday.

Waiting period

90 days (reduced to 1 day after hospitalization of at least 18 hours or 1-day surgery).

Benefit period

2 years.

Disability covered

Any total disability caused by an accident or illness.

Partial disability

6-month partial disability.

Retroactive benefit

If the Person Insured receives Total Disability benefits for six (6) consecutive months, the Insurer will pay a lump sum benefit equal to the Total Disability benefits that would have been paid during the Waiting Period as though the Waiting Period did not apply.

Contract type

Renewal of the contract is guaranteed.

The level premium rate is based on the age and risk class of the person insured and on the guarantee. The only rate increases possible are adjustments that reflect experience.

Premiums are waived upon receipt of the first benefit.


Guaranteed up to age 65.

Integration and coordination

No integration or coordination.

100% payment for joint personal debt.

Exclusions and restrictions

There are no pre-existing conditions. Refer to the debt disability insurance policy specimen document for full details.