ScotiaLife Term 1 Insurance

Life is unpredictable. Take one of the most important steps to protect your family's future and ensure that their financial needs will be met.

ScotiaLife Term 1 Insurance makes it easy to prepare for the uncertainties of life with simple, comprehensive and affordable group insurance coverage. With ScotiaLife Term 1 Insurance, you choose the amount of coverage you need and keep it in place for as long as necessary (up to age 70)1.

If you are a Scotiabank Group customer or the spouse of a Scotiabank Group customer, 18 to 64 years of age and a Canadian resident, then you are eligible to apply for up to $1 million in coverage.

The Plan Offers:

• Affordable group rates - You benefit from low group rates exclusively for Scotiabank Group customers and their spouses;
• Flexible coverage amounts - Choose from $50,000 up to $1 million of affordable protection in units of $25,000;
• Reliable protection - If you're approved, your coverage automatically renews every year until you reach age 70 without additional medical evidence, as long as you continue to pay your premium. Coverage automatically terminates at age 70;
• Medical exam may not be required - If you are under age 50 and are applying for up to $250,000 of coverage, you may only need to answer some health questions to apply. Depending on your answers, we may contact you for more information in order to assess your application;
• Living benefit - As much as 50% of your coverage amount (to a maximum of $50,000) may be advanced to you if you are diagnosed with a terminal illness and your life expectancy is 12 months or less. At time of death, the amount paid to your beneficiary will be your coverage amount less the amount you received as a Living Benefit plus interest2;
• Easy payment options - You can pay your monthly premium by credit card or automatic withdrawal from your bank account;
• 30-day money-back guarantee - If for any reason you are not completely satisfied with your ScotiaLife Term 1 Insurance coverage, simply return your Certificate of Insurance within 30 days. Any premiums already paid will be refunded - no questions asked.

Affordable Group Rates

Monthly premiums* per $25,000 of coverage

AGE	Female		Male
	Non-smoker**	Smoker	Non-smoker**	Smoker
Under 30	$ 1.42	$ 2.23	$ 1.98	$ 2.84
30-34	1.62	2.63	2.07	3.53
35-39	1.94	3.33	2.63	4.82
40-44	3.08	5.51	3.96	7.90
45-49	4.41	7.99	6.08	11.95
50-54	6.48	11.41	9.11	17.62
55-59	10.53	18.23	14.99	26.35
60-64	14.24	24.66	20.27	35.62
65-69***	14.24	24.66	20.27	35.62
70	Coverage ends

* Rates are reviewed annually, subject to change without notice, and will increase when you move into the next age band on the Group Policy Anniversary Date (January 1 of each year). Rates are subject to provincial sales tax where applicable.

** Non-smoker rates apply to applicants who have not used any tobacco or tobacco cessation products within 12 consecutive months prior to the application date.

*** Coverage decreases by 10% of the original amount each year beginning at age 65. These are renewal rates only.

What's Not Covered

No insurance benefit is payable for a death that occurs before coverage has been in effect continuously for 2 years prior to the date of death, if the death results directly or indirectly from suicide or self-destruction while sane or insane.