Scotia Plan Loan Life & Disability Protection
Right for you if:
You want to maintain financial flexibility
You want to protect yourself in case you are unable to work
Rest assured with ScotiaLife Financial
Important: Effective February 16th, 2019, Scotia Plan Loan Life and Disability Protection will no longer be available for new enrolment.
If you are an existing Scotia Plan Loan Protection customer your coverage can be renewed up until March 15th, 2019 and you will remain insured until the end of the loan term. After March 15th, 2019 your Scotia Plan Loan Protection will no longer be available for renewal.
Your existing Scotia Plan Loan Life and Disability insurance covers:
- Your monthly loan payments should you become disabled and unable to work as a result of an illness or injury.
- The outstanding balance (up to $150,000) on your Scotia Plan loans should you pass away.
Scotia Business Loan Protection is a Group Policy underwritten by The Canada Life Assurance Company. All coverage is subject to the terms and conditions outlined in the Certificate of Insurance which you will receive upon enrollment.
1% of the Comprehensive coverage amount, monthly benefit up to $7,500 for a maximum of 24 months per claim or 48 months maximum per lifetime.
2% of the Comprehensive coverage amount, up to $15,000 paid in one lump sum amount.
To a maximum of $2,000,000.