Your Scotia Plan Loan gives you access to greater borrowing and favourable interest rates to help you meet your most pressing needs. However, 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 can remove these worries.
Rest Assured with Credit Protection for Scotia Plan Loans:
Credit Life Protection can pay off the outstanding loan balance in the event of your death, relieving your loved ones of added financial pressure at a difficult time.
Health Crisis Protection can pay off your outstanding loan balance up to the policy maximum in the event that you are diagnosed with a heart attack, stroke, cancer, or suffer the loss of limbs or sight in both eyes due to 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 make the payments alone.
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 insurers:
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 pre-existing conditions as described in the Enrolment Form and the Certificate of Group Credit Insurance for Scotia Plan Loan, which you will receive upon purchase.
Insurance is underwritten by Scotia Insurance Caribbean Limited and offered through Scotia Insurance(British Virgin Islands) Limited, agent for Scotia Insurance Caribbean Limited.
Discounts available for joint coverage borrowers
No health questions asked
The younger you are, the less you pay