Credit Protection for Scotia Plans Loans
With your ScotiaPlan Loan, you have access to greater borrowing, and favourable interest rates to help you meet many of your most pressing needs. Did you know, however, that in the event of your death or the diagnosis of a specified health crisis, this convenience could become a financial obligation for your family?
Credit Protection for Scotia Plan Loans can remove that worry.
With Life Insurance, your outstanding loan balance will be paid up to the policy maximum* if you die. Rest assured that your family will be protected if you pass away.
With Health Crisis Insurance, your outstanding loan balance is paid up to the policy maximum* if you are diagnosed with a heart attack, stroke, cancer or suffer the loss of limbs, or the loss of sight in both eyes caused by an accident or illness.
Credit Insurance for Scotia Plan Loans can cover both the borrower and the co-borrower if joint coverage is elected, so you don't have to worry about leaving someone else with the burden of repaying your loan - or being the one left behind to shoulder the payments.
Scotiabank loan customers under 55 years of age can apply for Health Crisis Insurance and loan customers under 65 years of age can apply for Life Insurance. If your loan is $5M or less you are automatically approved.*
Peace of Mind Is Just a Phone Call Away
Your Scotiabank representative will be pleased to answer your questions or help you arrange coverage under both our Health Crisis Insurance and Credit Life Insurance Plans. Talk to us today.
A note from the insurer:
In this section, we have attempted to explain clearly and briefly the coverage available under this plan. *Coverage is subject to policy maximums, specific limitations and exclusions, including age restrictions, and a pre-existing condition as described in the Enrolment Form and the Certificate of Insurance which you will receive upon purchase.
Insurance is underwritten by Scotia Jamaica Life Insurance Company Limited.