ScotiaLife® Guaranteed Life Insurance

Right for you if: 

  • You want to leave your loved ones with fond memories, not debts and outstanding bills

  • You want coverage you can count on

  • Apply Online

    Why now?

    Your acceptance is guaranteed if you are 50-75 years of age and reside in Canada at the time of application. No medical exam or health questions are required to apply. Once we've processed your application and collected your first premium, you will have valuable coverage for life (as long as you continue to pay your premiums and subject to the termination provisions in the Policy).

    The plan offers:

    • Lifelong coverage - The Guaranteed Life benefit amount you choose will never be reduced. As long as your premiums are paid when due, your protection will continue...even if your health changes.
    • Monthly premiums never increase - Once you have applied, the monthly premium for your coverage will never increase. No matter how long you live, and no matter what your future state of health, you'll always pay the same amount - guaranteed.
    • No payments after age 90 - When you reach age 90, you won't have to pay any more premiums. However, your coverage will continue for the rest of your life.
    • Terminal Illness Benefit - You can receive 50% of your life insurance benefit while you are alive if, after 2 years of your coverage being in force, you are diagnosed with a terminal illness by a Medical Specialist and you have 12 months or less to live. You can use this money however you want.
    • Accidental Death Benefit - Your beneficiary could receive 5 times your Guaranteed Life benefit amount if you die as a direct result of an accident.
    • A 30-day review period - If for any reason you are not completely satisfied with your ScotiaLife Guaranteed Life Insurance coverage, simply return the Policy within 30 days. Any premiums paid will be refunded - no questions asked.

    Affordable rates

    When you sign up for ScotiaLife® Guaranteed Life Insurance, you get affordable rates that are guaranteed never to increase.

    When is the benefit paid

    After your coverage has been in effect for 2 years, the full benefit will be paid no matter how you pass away. This insurance will pay the full benefit from the very first day your coverage starts if you pass away from a covered accident. Should you pass away from any other cause during the first 2 years, the plan will refund all the premiums you have paid, plus interest.

    What's not covered

    Within the first 2 years of the effective date or the most recent reinstatement, the Accidental Death Benefit will be paid if death is caused by a covered accident. Otherwise the benefit payable is limited to a refund of premiums plus interest. For example, the Accidental Death Benefit does not cover death due to suicide, illness or disease. Complete terms, conditions, exclusions and limitations are explained in the policy that will be issued to you.

    See the full list of Limitations and Exclusions below which are applicable to the Accidental Death benefit.

    The ScotiaLife® Guaranteed Life Insurance accidental death benefit does not cover death due to:

    • any naturally occurring condition, illness or disease or bodily or mental infirmity of any kind, or medical or surgical treatment for any such condition, illness, disease or infirmity;
    • bacteria, viruses, fungi, prions or any other pathogens;
    • suicide, intentionally self-inflicted injury while sane or any self-inflicted injury while insane;
    • an accidental bodily injury sustained while under the influence of any drug, unless the drug was prescribed by a physician and taken as directed;
    • an accidental bodily injury sustained while the Insured's blood alcohol concentration was in excess of eighty (80) milligrams of alcohol per one hundred (100) millilitres of blood;
    • an accidental bodily injury sustained while under the influence of any poison or gas that was voluntarily taken, administered, absorbed or inhaled;
    • flying (except as a fare paying passenger on a recognized commercial airline on a regularly scheduled flight) or any other form of aerial activity;
    • war (declared or undeclared), riot or civil commotion, insurrection or hostilities of any kind;
    • participation as a professional athlete in an athletic competition or demonstration;
    • commission of, or attempt to commit, or the provocation of any indictable criminal offense.

    Ready to apply

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    Convenient application process 

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    By Phone

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    This product is currently not available to residents of Quebec.

    Mon-Fri (8:30am-7pm ET)

    1-800-387-9844