Basic Plan

The Basic Plan coverage pays off your debt to ODVA should you or your spouse or co-borrower die while insured under the plan. If both borrowers are insured under the Basic Plan, the full amount of insurance will be paid upon the first death.

Any ODVA borrower and/or spouse or co-borrower can apply for the Basic Plan. A former spouse is eligible if he or she holds a vested interest in the property securing the loan. Eligible applicants must meet The Standard's Basic Plan requirements for evidence of insurability.

The cost of the Basic Plan is based on the age of the insured person and on the loan balance. To determine the cost of the Basic Plan, please access the Premium Calculator.

Before enrolling, review the Loan Cancellation Life Insurance Certificate for exclusions, limitations and reductions.