Why consider Scotia Term 10 Life Insurance?

  • Peace of mind knowing that your rate is guaranteed for the initial 10 year term

  • Provides lump sum tax-free payout1

  • You and your family are protected for the next 10 years

  • Apply for up to $20 million in coverage if you are a Canadian resident, 18 to 75 years of age depending on the product

Is this coverage right for me?

Scotia Term 10 Life Insurance is great for:

Young families looking for a more affordable life insurance option

Individuals looking to cover the final years of their mortgage

Small business owners who need to cover overhead and start-up costs

Scotia Term 10 Life Insurance options:

Scotia Term 10 Life Insurance

- Coverage from $10,000 to $20,000,000 (depends on age)

- Age eligibility to apply: 18-75

- Convertible to permanent life insurance up to age 75

10-day money back guarantee

- Application process with an Advisor

- If approved, majority of policies issued within 5 days

- Full underwriting

Scotia Simplified Term 10 Life Insurance

- Coverage from $50,000 to $1,000,000 (depends on age) 

- Age eligibility to apply: 18-60

- 10-day money back guarantee

Application process without the need for an advisor

- No medical exams

- If approved, policy issued instantly and electronically

- Simplified underwriting

Scotia Term Life insurance is underwritten and issued by The Empire Life Insurance Company and distributed by BNS Insurance Agency Inc

Compare all coverages

  Scotia Term 10 Scotia Term 15 Scotia Term 20 Scotia Term 25 Scotia Term 30
Term 10 Simplified 10 Term 15 Term 20 Simplified 20 Term 25 Term 30
Length of Coverage 10 year renewable to age 752

Renewal Rate every 10 years is guaranteed
10 years renewable to age 75

Renewal rate is not guaranteed until declared
15 years renewable to age 703

Renewal Rate every 15 years is guaranteed
20 year renewable to age 654

Renewal Rate every 20 years is guaranteed
20 years renewable to age 75

Renewal rate is not guaranteed until declared
25 year initial term renewable to age 605

After year 25 renewal rate is guaranteed every year to age 85
30 year initial term renewable to age 556

After year 30 renewal rate is guaranteed every year to age 85
Amount of Coverage Available $10,000- $20 million (depends on age) $50,000-$1 million (depends on age) $10,000- $20 million (depends on age) $25,000-$20 million $50,000-$1 million (depends on age) $25,000-$20 million $25,000-$20 million
Age Eligibility to apply 18-75  18-60 18-70 18-65 18-55 18-60 18-55
Convertibility Convertible to whole Iife insurance Not convertible to whole Iife insurance Convertible to whole Iife insurance Convertible to whole Iife insurance Not convertible to whole Iife insurance Convertible to whole Iife insurance Convertible to whole Iife insurance

What's not covered
Suicide is not covered during the first 2 years of coverage (or within 2 years after coverage reinstatement).

Ready to apply?

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Speak to an advisor today for Scotia Term 10, 1520, 25, and 30 Term Life coverages

  • Coverages available up to $20 million


Call us toll-free
Monday to Friday
8 am-8 pm ET

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Convenient application for Scotia Simplified Term 10 and Term 20 products.

  • Coverages available up to $1,000,000
  • No medical exams