ScotiaLife Term 10 Insurance
ScotiaLife® Term 10 Insurance offers you an affordable and convenient option for securing up to $250,000 in insurance coverage to protect your loved ones.
There’s No Time Like Today
It makes sense to apply now. In as little as one year, you could be paying more for the same amount of life insurance you can buy today. Or, a change in your health may make it difficult to get coverage later.
Canadian residents 18 to 65 years of age are eligible to apply.
Benefits at the Time They are Needed Most
The death benefit is paid as a lump sum – directly to the person you designate as your beneficiary. The Terminal Illness benefit, if applicable, is paid directly to you.
ScotiaLife Term 10 Insurance offers:
- Choice of coverage amounts to meet your needs — from $25,000 to $250,000;
- A rate you can afford today and down the road. There are cost savings on higher benefit amounts so twice the coverage doesn’t cost twice as much;
- No medical examination needed to apply — just 6 short health/lifestyle questions need to be answered;
- Guaranteed premiums — the rate you start at is the rate you stay at for the full 10 year term of coverage. Your “locked in” rate is based on your age, gender, smoking status, and the benefit amount you’ve chosen;
- Automatic renewal with guaranteed rates — if you continue to pay your premiums, your coverage will automatically renew at the end of each 10 year term without you having to re-qualify. Your coverage can continue to age 75. Your renewal rates are guaranteed at the time you are approved;
- Special Terminal Illness Benefit — will provide you with up to 50% of your life insurance benefit while you are alive, if after 2 years of coverage you are diagnosed with a specified disease and given 12 months or less to live;
- 30-day money-back guarantee — if you're not completely satisfied with your Policy, return it to us within 30 days, and any premiums paid will be promptly refunded. It’s that simple!
What's Not Covered
Suicide is not covered during the first 2 years coverage is in force (or within 2 years after coverage reinstatement).