How do I cancel my Payment Protection?

At Fig, we offer the Payment Protection coverage as an optional feature to provide additional financial security for our borrowers. If you've enrolled in this program but wish to cancel it, here's what you need to know:

1. Cancellation Flexibility: The Payment Protection coverage is entirely optional, and you have the flexibility to cancel it at any time.

2. Refund Policy: If you decide to cancel the program within the first 30 days after enrollment, you are eligible for a refund of the premiums you paid. This means that if you haven't used the program and choose to cancel it within this timeframe, you'll receive a full refund of any premiums charged.

3. Post-30/60 Days Cancellation: Should you opt to cancel the Loan Payment Protection Program after the initial 30 days (60 days in Quebec) have passed, you will not be entitled to any refund of premiums charged. It's important to consider this when deciding whether to continue with the program.

How to cancel your Payment Protection

If you would like to proceed with the cancellation of your Payment Protection on your Fig loan please send an email at support@fig.ca with written confirmation that you would like us to have your payment protection canceled.

Your request will be processed once we receive your written consent.

Keep in mind if you choose to Opt out of the Payment Protection coverage you will not be able to add this option to your loan later on.

By understanding these policies, you can make informed decisions about your Payment Protection coverage. If you have any further questions or need assistance with cancellation, please don't hesitate to reach out to our customer support team. We're here to help!