Scotia Credit Card ProtectionComprehensive insurance coverage you can count on
Having a Scotiabank credit card means having easy access to credit. So you can buy a new computer for your home office, take home that mountain bike you saw in the store window, or take out money when you're travelling abroad.
We are pleased to offer Scotia Credit Card Protection so you can take advantage of the purchasing power of your Scotiabank credit card. This valuable coverage can provide the financial safety net needed during a difficult time that may be caused by common life events: Disability, Job Loss, Strike or Lockout, Critical Illness or should you pass away.
At a glance
The Scotia Credit Card Protection insurance plan is an optional insurance coverage available to Scotiabank Visa and American Express credit card customers to provide comprehensive insurance coverage that stays in place as your protection needs change. It can pay off your credit card account balance up to $50,000 should you become diagnosed with a critical illness or pass away unexpectedly. If you become disabled or unable to work due to job loss or strike, the monthly benefit is equal to 10% of your outstanding balance, which can help pay down your balance faster and can help maintain your credit rating.
Coverage you can count on
With one simple application, Scotia Credit Card Protection provides:
- A monthly benefit equal to 10% of your outstanding balance for up to 10 months and a maximum of $50,000 if you become disabled, lose your job or unable to work because of a strike or lockout.
- Coverage that can pay your outstanding Scotiabank credit card account balance up to a maximum of $50,000 in one lump sum payment if you are diagnosed with a covered critical illness or pass away.
- Benefits that are also extended to cover an eligible Co-borrower on your Scotiabank credit card account, at no additional cost, to provide you with even greater value.
To find out more about Scotia Credit Card Protection, please refer to our frequently asked questions. Or, call us at 1-855-753-4272, Monday to Friday 8:00 a.m. to 8:00 p.m. (ET) and one of our Customer Service Representatives will be pleased to assist you.
Scotia Credit Card Protection is a Group Policy underwritten by Chubb Life Insurance Company of Canada.
All coverage is subject to the terms and conditions outlined in the Certificate of Insurance which you will receive upon enrolment.