Protection for the essential things in life. Get protection that may protect your family economically
What’s Scotia Loan Protection?
This optional insurance coverage helps pay back or keep your loan re payments in case of disease, damage or death.
Scotia Loan Protection provides you with two protection bundle kinds:
Comprehensive Protection supplies the after insurance policies:
Fundamental Protection coverage provides insurance coverage just.
Comprehensive Protection includes these five forms of protection:
Can protect your loan that is outstanding balance as much as $300,000, in the event that you expire.
Terminal IllnessВ Coverage
This benefit can protect your loan that is outstanding balance as much as no more than $300,000, if you should be identified as having a covered Terminal disease.
A Terminal Illness is a disease that is dependant on a physician written down to result that is likely death within twelve months of diagnosis.
Critical IllnessВ Coverage
Can really help protect your loan payments, as much as $3,500 each month 2,3 , if you should be clinically determined to have a covered illness that is critical to your 70 th birthday. Coverage includes types that are certain severities of cancer tumors, coronary arrest or swing.
Will help protect your loan payments, as much as $3,500 per month 2,3 , in the event that you become disabled.
Job LossВ Coverage
Might help protect your loan payments, around $3,500 per 2,3 , if you involuntarily lose your job month.
Who is able to make an application for Scotia Loan Protection?
To qualify to try to get fundamental Protection under Scotia Loan Protection, you have to fulfill every one of the after criteria on the date of the application to enrol for insurance coverage:
you should be at the least 18 years old and less than 70 years of age;
You really must be a resident of Canada; and
You truly must be the Borrower that is principal or guarantor on a Scotiabank Loan that is in Good Standing and possess decided to the conditions and terms regarding the Loan.
To try to get Comprehensive Protection, you need to be:
To qualify for Job Loss protection, you need to be:
Premiums and Discounts
The month-to-month fundamental Protection premium is determined for virtually any $1,000 of the loan stability in the date your Scotia Loan Protection application is authorized.
Your month-to-month Comprehensive Protection premium is determined for each and every $1,000 of the insured loan stability for Life and Terminal infection coverage and $100 of month-to-month equivalent insurable advantage for Critical infection, Disability and Job Loss protection in the date your Scotia Loan Protection application is authorized.
You may additionally be qualified to receive a discount as much as 20% on your own premiums.В For lots more details, please frequently refer to our Asked concerns below.В Provincial product sales taxation would be put into your premium where applicable.
30-day вЂ right to look at your coverageвЂ™ duration
For you, cancel within 30 days to receive a full refund of any premium paid.В Call us today to enrol worry-free if you decide our loan insurance is not right.
Find out more about the merchandise
Safeguard your self economically with optional Scotia Creditor Insurance Protection
With or without dependents, the proper protection might help keep your monetary objectives on the right track.В
Determine your Loan Balance Protection
Learn how much your insurance that is monthly premium be.
You might not be in a position to start to see the future, but we could allow you to policy for it.
Observe how Scotia Creditor Insurance will allow you to along with your household get financially prepared.
What’s Scotia Loan Protection Insurance?
Scotia Loan ProtectionВ can be an optional insurance coverage product that might help pay back your outstanding Scotia Auto Loan balance or cover your month-to-month car finance re re payments as a consequence of certain unforeseen activities, such as for example impairment, Job Loss, Critical disease, Terminal Illness or Loss of lifestyle.
You don’t need to try to get this optional insurance policy become authorized for the Scotia Auto Loan*.
*Not applicable to Scotia Retail Loans.
What kinds of Loan Protection will my insurance plan consist of?
You can easily pick from two insurance coverage bundles:
Comprehensive Protection Coverage
Life and Terminal Illness coverage, which could pay back your outstanding Scotia Auto Loan account up to $ 300,000 if you should be identified as having a Terminal Illness or expire
Critical infection, impairment and Job Loss protection, which will make your car loan re payment for approximately $3,500 each month. Critical infection and impairment coverages can make monthly obligations for as much as 12 months. Job Loss protection make monthly premiums for as much as half a year per event. Overall optimum advantage is year
Life protection, that may pay back your outstanding Scotia Auto Loan account up to $300,000 if you expire
Who’s entitled to insurance policy?
Scotia Loan Protection insurance coverage is just readily available for Scotiabank Auto Loans that descends from an Auto Dealership.
Coverage is present to brand brand brand new or Scotiabank that is existing Auto Borrowers (optimum of 2 insured borrowers), that are 18 years old to 69 years, are Canadian residents and that have a Scotiabank car finance account in good standing.