Important Changes to Your Scotia Credit Card Protection Insurance Coverage

Thank you for being a Scotia Credit Card Protection* customer. This optional Insurance coverage can help offer the financial protection you and your family needs, when it matters the most.

The pricing changes and benefit enhancements listed below will be made to your current Scotia Credit Card Protection insurance coverage, effective April 1, 2024. The benefit enhancements remove several claim exclusions and shorten the duration of others, providing you with broader claim eligibility going forward.

Please keep this amendment notice with Your Certificate of Insurance for documentation.

  Current Change effective April 1, 2024
PREMIUM

Monthly Premium per $100 of Account Balance:

  • Basic Protection: $0.89
  • Comprehensive Protection: $1.09

Monthly Premium per $100 of Account Balance:

  • Basic Protection: $0.95
  • Comprehensive Protection: $1.19

GENERAL EXCLUSIONS

No benefits are payable under this insurance if death, Critical Illness, Hospitalization or Disability resulted directly or indirectly from:

  • intentionally self-inflicted injury, suicide or attempted suicide, while sane or insane…within the first 12 months following the Effective Date of Your coverage;
  • intentionally self-inflicted injury, suicide or attempted suicide, while sane or insane…within the first 6 months following the Effective Date of Your coverage;
  • the intentional taking of drugs, except where prescribed by a Doctor and taken as directed;
Exclusion no longer applicable
  • any poisonous substance, gas or fume of any kind voluntarily taken, administered, absorbed or inhaled;
Exclusion no longer applicable
  • the operation or control of any motorized vehicle or watercraft with blood alcohol concentration in excess of legal limits in the jurisdiction where the death, Critical Illness, Hospitalization or Disability occurred;
Exclusion no longer applicable
  • A pre-existing condition, if death, Critical Illness, Hospitalization or Disability occurs within 12 months of the Effective Date of Your coverage.
  • A pre-existing condition, if Critical Illness occurs within 6 months of the Effective Date of Your coverage.
Definition of Disability Disabled or Disability means the Claimant is unable to perform the essential duties of his or her job because of a sickness, injury, mental illness or nervous disorder for a period of at least 30 consecutive days. Disabled and Disability means it has been determined by Your Doctor that You are prevented by any medical condition from performing Your normal activities of daily living or the regular duties of Your employment or self-employment, as applicable, for a period of at least 30 consecutive days.

Certificate of Insurance: Full details about your insurance coverages, benefits, terms and conditions can be found in the updated Scotia Credit Card Protection Certificate of Insurance located at scotiabank.com/sccp on April 1, 2024. This Certificate of Insurance replaces your current Scotia Credit Card Protection Certificate of Insurance.

Claims: Any claims currently under review or in progress will continue to be based on the current certificate of Insurance. The benefit enhancements announced above are in effect for losses that occur on or after April 1, 2024. 

If you have any questions, please call our toll-free number 1-888-999-7185 between 8:00 a.m. and 8:00 p.m. (ET) Monday to Friday, and one of our Customer Service Representatives would be pleased to assist you.