ScotiaLife Critical Illness Insurance
Right for you if:
You want affordable insurance you can count on
You wish to protect yourself against unforeseen
ScotiaLife® Critical Illness Insurance pays a one-time lump-sum benefit¹ following the first occurrence and diagnosis of either:
- Heart Attack
You decide how to spend your money
The one-time, lump-sum cash benefit¹ paid to you can be used for medication or services not covered by your provincial health care plan, child care, ongoing household expenses or loss of income if your spouse is unable to work while caring for you. Also, the ScotiaLife Critical Illness Insurance benefit is paid regardless of whether or not you are able to return to work. You can protect your family's financial future and focus on your recovery.
If you are a Canadian resident, 18 to 64 years of age and a Scotiabank customer or the spouse of a Scotiabank customer, you are eligible to apply for up to $100,000 in coverage.
The plan offers
- Affordable group rates - You benefit from low group rates exclusively for Scotiabank customers and their spouses
- Flexible coverage amounts - From $25,000 up to $100,000 of affordable protection—available in increments of $25,000
- Pay for any expense you choose—You decide how to spend the money
- Reliable protection—If you're approved, your coverage automatically renews, without additional medical evidence, every year until you reach age 70, when your coverage ends
- Easy payment options—You can pay your premium monthly by Scotiabank 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 coverage, simply return your Certificate of Insurance within 30 days. Any premiums already paid will be refunded—no questions asked
For more information about ScotiaLife Critical Illness Insurance refer to the Definitions, Exclusions and Terminations
Monthly rates* per $25,000 of coverage
|18-29||$ 1.55||$ 1.75||$ 1.95||$ 2.36|
|30-34||$ 2.65||$ 4.34||$ 2.65||$ 3.07|
|35-39||$ 3.81||$ 8.26||$ 2.75||$ 5.40|
|40-44||$ 6.77||$ 14.50||$ 4.87||$ 10.06|
|45-49||$ 11.12||$ 25.65||$ 10.38||$ 23.39|
|50-54||$ 15.24||$ 36.34||$ 18.63||$ 47.53|
|55-59||$ 20.85||$ 47.61||$ 31.86||$ 82.55|
|60-64||$ 27.52||$ 60.02||$ 53.03||$ 132.05|
|65-69***||$ 39.66||$ 88.51||$ 89.18||$ 190.29|
|70 §||Coverage ends|
The benefit is only paid for the first Covered Critical Illness that occurs. Please refer to the Definitions, Exclusions and Terminations brochure (500 kb) for information that defines Covered Critical Illnesses and the necessary survival period after diagnosis
ScotiaLife Critical Illness Insurance is underwritten by Sun Life Assurance Company of Canada.
ScotiaLife Critical Illness Insurance coverage is subject to certain limitations, restrictions and exclusions. This website provides descriptions of only some of the benefits and limitations of ScotiaLife Critical Illness Insurance. A description of the principal provisions of the coverage is provided in the Certificate of Insurance, which will be mailed to you if you are approved for coverage. Coverage is subject to all of the provisions contained in the applicable Group Policy. In the event of any conflict between any documents, including this website and the Certificate of Insurance, the Group Policy shall govern.
ScotiaLife Critical Illness Insurance cannot be purchased in Scotiabank branches.
Rates are reviewed annually, subject to change with 30 days' notice, and will increase when you move into the next age band on the Group Policy Anniversary Date (January 1st 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 immediately prior to the application date.
These are renewal rates only.
Coverage renews automatically every year until you reach age 70.