The Fora Payment Protection Plan is a comprehensive optional insurance plan available to KOHO Line of Credit account holders who have requested the coverage, agreed to pay the premium, and continue to pay premiums on a timely basis. Coverage is underwritten by Trans Global Insurance company and Trans Global Life Insurance Company.

If you are eligible, the Fora Payment Protection Plan provides the following coverages:

• 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 line of credit 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 line of credit 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 Fora an amount equal to the Outstanding Balance of your line of credit at the date of First Diagnosis of the Critical Illness, to a maximum of $15,000.
• Death with Dismemberment coverage**: The coverage will pay Fora, 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 Your outstanding line of credit balance at the date of death or dismemberment to a maximum of $15,000. 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 individual, you are entitled to benefits only under one coverage.

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

The Life and Dismemberment and Critical Illness coverages are available to the primary Borrower and their Spouse in all provinces except Quebec.

• A KOHO Line of Credit primary account holder
• A Canadian resident in the province of Alberta, British Columbia, Nova Scotia, Ontario and Saskatchewan, where the Fora Payment Protection Plan is available
• A person at least 18 years of age

• The Life and Dismemberment and Critical Illness coverages are available to the primary line of credit account holder and their Spouse in all provinces except Quebec.
• The Disability and Involuntary Unemployment coverages are available only to the Primary line of credit account holder in all provinces.

Your Premium Charge is determined by applying a monthly Premium Rate of $1.50 per $100 (or part thereof) to your Outstanding Principal Balance throughout each billing cycle (plus applicable taxes)*. In practice, this means the premium you are charged each billing cycle is the amount determined by adding the sum of the daily premiums during the billing cycle. Daily premiums are calculated by multiplying (i) the monthly rate converted to a Daily Premium Rate (“DPR”), by (ii) the End-of-Day Outstanding Principal Balance (“EoD – OPB”) of your Line of Credit. The Premium Charge will vary depending on the number of days in the billing cycle and the daily outstanding principal balance on your Line of Credit during the billing cycle.

*No premium is charged on any portion of your end-of-day outstanding principal balance that exceeds $15,000. Premium payment is waived when your premium charge at the end of the billing cycle is less than $2.

EXAMPLE:
John is a KOHO Line of Credit holder who was insured for ten (10) days during his billing cycle. The table below shows John’s EoD - OPB during the 10 days he was insured and how much insurance premium John will pay for the period insured.

DoBC: Day of Billing Cycle

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 a sample copy of the certificate of insurance at https://transglobalinsurance.ca/insurance/other/ or click here.

The effective date of the Fora Payment Protection Plan is the date that Trans Global Insurance Company and Trans Global Life Insurance Company receives your application for insurance.

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 You are more than 30 days delinquent in making any required Payment towards Your Outstanding Balance; however, Your insurance coverage will be automatically reinstated when Your Payment obligations become current. For Weekly, Bi-weekly and Semi-monthly payment customers, it is the date You are more than 28 days delinquent in making any required Payment towards Your Outstanding Balance;

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 click here for more details.

The Fora Payment Protection Plan 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.

The Fora Payment Protection Plan is designed to complement any existing protection by providing coverage in addition to any other coverage you may have.

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

• Call 1-844-930-6022 between 8:00 a.m. and 5:00 p.m. (MST)
• Email [email protected]
• Via written notice to TRANS GLOBAL INSURANCE GROUP, 16902-137 Ave. NW Edmonton, Alberta, T5V 0C8.

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/

If you have any questions about this insurance coverage, contact Trans Global Insurance at 1-844-930-6022 or by email at [email protected]. You may also contact a licensed insurance agent should you wish to seek specific insurance advice.