Scotia Mortgage Protection can allow you and your family to maintain the home and lifestyle you have worked hard to build. Safeguarding your family's mortgage debt can provide the comfort and stability you need, when you need it most.
Depending on the number of insured customers on your mortgage and the coverage applied for, you may be eligible for a discount of up to 20% on your premiums.
To ensure you get the coverage that's right for you, we offer three types of coverage to protect your mortgage.
To help you take your mind off money worries and focus on getting better, Critical Illness coverage can pay off your mortgage in one lump sum payment* should you be diagnosed with one of the covered critical illnesses.
* The maximum coverage amount for Critical Illness coverage is $500,000 per Mortgage or for all Mortgages combined. For Life coverage, the maximum coverage amount is $500,000 per Mortgage or $750,000 for all Mortgages combined. The maximum monthly benefit amount for Disability coverage is $3,500 plus your Mortgage Disability premium (including applicable taxes), for up to a maximum of 24 months.
The Bank of Nova Scotia and ScotiaLife Financial are not insurers. All insurance plans are underwritten by independent licensed insurers.
Scotiabank is committed to helping our customers and employees impacted by the wildfires in Fort McMurray and surrounding areas. Customers are encouraged to speak to a Scotiabank representative to discuss their individual circumstances and needs. Learn how you can assist the community during this difficult time.