Credit Protection for Scotia Plan Loans

Right for you if:

  • You want life insurance protection for your Scotia Plan Loan

With your ScotiaPlan Loan, you have access to greater borrowing, and favourable interest rates to help you meet many of your most pressing needs. Did you know, however, that in the event of your death or the diagnosis of a specified health crisis, this convenience could become a financial obligation for your family?

Credit Protection for Scotia Plan Loans can remove that worry.

Rest Assured with Credit Protection for Scotia Plan Loans

With Life Protection, your outstanding loan balance will be paid up to the policy maximum* if you die. Rest assured that your family will be protected if you pass away.

With Health Crisis Protection, your outstanding loan balance is paid up to the policy maximum* if you are diagnosed with a heart attack, stroke, cancer or suffer the loss of limbs, or the loss of sight in both eyes caused by an accident or illness.

Credit Protection for Scotia Plan Loans can cover both the borrower and the co-borrower if joint coverage is elected, so you don't have to worry about leaving someone else with the burden of repaying your loan - or being the one left behind to shoulder the payments.

Scotiabank loan customers under 55 years of age can apply for Health Crisis Protection and loan customers under 65 years of age can apply for Life Protection*.

A note from the insurer:

In this section, we have attempted to explain clearly and briefly the coverage available under this plan.

*Coverage is subject to policy maximums, specific limitations and exclusions, including age restrictions, and a pre-existing condition as described in the Enrollment Form and the Certificate of Insurance which you will receive upon purchase.

Insurance is underwritten by Scotia Life Trinidad & Tobago Limited.


In this section, we have attempted to explain clearly and briefly the coverage available under this plan.

Coverage is subject to specific limitations and exclusions, including age restrictions, as described in the Certificate of Scotiabank Credit Protection Insurance and the Policy, which you will receive upon purchase.

Please refer to the Certificate of Scotiabank Credit Protection Insurance for details.


Fees and Terms

Favourable interest rates

Cover borrower and co-borrower

Protect your family from a financial obligation

Ready to Apply?