Scotia Business Loan Protection1 insurance

A lot of people rely on your business. Be more prepared to deal with the unexpected.

Did you know?

Almost half of Canadian small businesses select debt as being one of their greatest worries.2

Scotia Business Loan Protection insurance helps to cover your small business loan payments if you or other eligible key people can’t work for health reasons or as a lump-sum if you or they pass away.

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How Scotia Business Loan Protection Insurance can help improve your business’ financial security

If your claim is approved, this optional insurance reduces the financial burden of your small business loan for your company or family. 

It makes payments either toward your scheduled loan repayments or to pay off all or part of your loan balance. This helps your business: 

Free up cashflow for necessary expenses like salaries, inventory and leases to keep your business operating.

Avoid using profits, capital or other credits to make your loan payments.

Make your small business loan payments on time to maintain your credit score.

Minimize the impact of an absent key employee by leaving you with more funds to hire or train a replacement.

Protect the business you have worked so hard to build from financial hardship

No medical questions asked for credit limits $50,000 or less.

Scotia Business Loan Protection offers you two coverage bundles

Basic Protection 


Basic Protection provides the following coverage:

  • A life insurance benefit of up to $2,000,000 if an insured person passes away.

Comprehensive Protection


Your business can receive the following Comprehensive Protection benefits:

  • Life insurance benefits of up to $2,000,000 if an insured person passes away.
  • Disability benefit paid monthly and equal to 1%3 of the Comprehensive coverage amount if an insured person becomes disabled.
  • Hospitalization benefit equal to 2%4 of the Comprehensive coverage amount up to $15,000; 
  • Terminal Illness benefit equal to the outstanding balances5 on your insured borrowings.

30-day ‘right to examine your coverage’ period

If you decide our business loan insurance is not right for you, cancel within 30 days to receive a full refund of any premium paid. 

Learn more about Scotia Business Loan Protection

Protect yourself financially with Scotia Creditor Insurance Protection 

So many people depend on your business, the right coverage can help ensure it is protected. 

You may not be able to see the future, but we can help you plan for it

See how Scotia Creditor Insurance can help you and your family get financially prepared.

Frequently asked questions

Ways to contact us

Scotia Business Loan Protection

For more information on how Scotia Business Loan Protection can help your company’s financial security, meet with your Small Business Advisor at your local branch. 

Meet with an advisor

In person

Visit a local branch


We look forward to taking care of you every step of the way.

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