ScotiaLife Financial, a subsidiary of The Bank of Nova Scotia (Scotiabank) offers Canadians term life, health, auto, home, travel, and creditor insurance.
Backed by one of Canada’s 5 largest banks, all policies sold via ScotiaLife Financial are underwritten by Scotia Life Insurance Company. ScotiaLife offers a full range of personal insurance products.
ScotiaLife Financial Insurance Advantages
Some of the reasons ScotiaLife might be for you:
- Customized Coverage: Home and auto insurance from ScotiaLife come with the choice to personalize your policy, and several options allow you to add extra coverage.
- Protection for your ScotiaBank credit products: Creditor insurance allows you to insure your debts, credits, or mortgages with Scotiabank in the event you are unable to pay.
- Full range of personal coverage: Insurance to cover any possibility including life, hospitalization, critical illness, accident insurance, and various types of travel coverage.
ScotiaLife Insurance Products
ScotiaLife Life Insurance
- Term 1: Low-cost for 1 year of coverage protects you for up to $1 million up to age 70.
- Term 10 and 20: Renewable up to age 75, with up to $250,000 coverage.
- Term to 100 Insurance: Life-time coverage for up to $250,000, with premiums guaranteed to never increase, and no medical exam necessary.
- Accidental Death Insurance: Coverage against loss of life due to an accident, with benefits of up to $350,000. Includes a living benefit if you are hospitalized for a year or more due to a covered accident, and has guaranteed coverage for Scotiabank customers.
- Guaranteed Life Insurance: Lifelong coverage with locked premiums and no payments necessary past the age of 90. Guaranteed for Canadians between 50-75 years of age and includes a living benefit if you are diagnosed with a terminal disease.
ScotiaLife Health Insurance
- Hospitalization Insurance: Cash benefit of up to $250 a day if you are hospitalized in Canada or the continental US as a result of a covered accident or sickness. No medical exam required, and options exist to extend coverage to your spouse or dependent children, and receive a home recovery benefit for recovery time after a one week or longer hospital visit.
- Critical Illness Insurance: From $25,000 to $100,000 of protection in increments of $25,000, paid out in the event of a heart attack, cancer, or stroke diagnosis. Coverage renews annually, with no medical exams required, until the age of 70.
- Health and Dental Insurance: Available to Scotiabank customers and their families, and offers life-time protection of up to $1 million per person for health costs, with the option of adding dental coverage, with the exception of emergency travel and medical assistance, which ends at age 80.
ScotiaLife Home Insurance
ScotiaLife home insurance includes several extended coverage options that include:
- Escape of fuel coverage: Additional coverage to protect your property from a fuel leaks, as well as refundable legal fees and soil decontamination in the event of a spill.
- Water damage: Basic protection against burst pipes, household appliances leaking, and other plumbing problems with additional coverage options for rain or snow seepage, sewer back-up, or overland floods.
- Valuable articles coverage: Coverage for high-value items stored in your home such as jewellery, antiques, and fine art.
- Secondary premises coverage: Coverage available for your vacation homes, recreational vehicles, secondary residences and watercraft.
- Hot tub, sauna, above-ground and inground pool coverage.
ScotiaLife Auto Insurance
In addition to standard auto coverage, you can customize your policy with extra protection, including:
- $0 deductible: Pay no deductible for claims due to theft, vandalism, or at-fault accidents.
- Guaranteed repairs: Repairs at an approved service provider for your vehicle after an accident – guaranteed for as long as you own your vehicle.
- Rental replacement: Replacement vehicle if yours car is being repaired due to a claim.
- Hybrid vehicles: Additional savings.
- Students living away from home: Additional savings.
- Non-Owner coverage: Protection against damage when you’re driving a rental or borrowed vehicle.
- Multi-line discounts: Auto and home coverage Bundles.
ScotiaLife Creditor Insurance
Coverage for ScotiaBank customers to protect your financial commitments, should you pass away or be diagnosed with a critical illness. Coverage includes:
- Mortgage Protection
- Credit Protection
- Credit Card Protection
- Loan Life & Disability Protection
- Business Loan Protection
ScotiaLife Travel Insurance
- Canadians Under 55: Emergency medical coverage with special rates for family trips, and a 50% discount for trips within Canada.
- Canadians 55 to 70: For trips up to 17 days, travellers can find coverage for their travels, including for seniors with existing illnesses.
- Students: Insurance to cover students travelling for the purposes of their studies, including both Canadians studying abroad or away from home within Canada, and international students visiting Canada.
- Visitors to Canada: Available to visitors to Canada and new immigrants, covering medical expenses during your stay as well as options including Travel Accident and Trip Interruption coverage.
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