Scotia Line of Credit ProtectionConvenient insurance coverage when you need it
Your Scotia Line of Credit account gives you the financial freedom to buy the things you want and need in life like a family vacation, renovations for your home, or that much-needed brake job on your car.
Having Scotia Line of Credit Protection insurance can mean providing the financial support that you and your family may need during a difficult time. If you become disabled and are unable to work, it can help to ensure that your Scotia Line of Credit payments are made on time. Also, you can still keep using your Scotia Line of Credit if you need to during the time you have an active claim on your account. Should you be diagnosed with one of the covered critical illnesses or pass away, your outstanding balance* can be paid off in one lump sum payment.
To apply for Scotia Line of Credit Protection you must be between the ages of 18 and under 65, have a Scotia Line of Credit account in good standing and reside in Canada.
For more details, 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.
Get the Coverage that's Right for You!
Scotia Line of Credit Protection can pay the outstanding balance on your line of credit account if you are diagnosed with a covered critical illness or if you pass away. It can also pay a monthly benefit in the event that you become disabled. To ensure you get the coverage that's right for you, we offer three types of coverage to protect your Scotia Line of Credit.
Critical Illness Coverage
If you are diagnosed with a covered illness, Critical Illness coverage can pay the outstanding balance* on your Scotia Line of Credit account.More details, Critical Illness Coverage
Should you pass away, Life coverage can pay the outstanding balance* on your Scotia Line of Credit account.More details, Life Coverage
Should you become disabled and unable to work, you can receive a monthly benefit* for your Scotia Line of Credit account which can help you to maintain your payments and credit rating.More details, Disability Coverage
Tools & Resources
The Bank of Nova Scotia and ScotiaLife Financial are not insurers. All insurance plans are underwritten by independent licensed insurers.
For Life coverage, the maximum coverage is $500,000 per account or up to $500,000 for all Scotia Line of Credit accounts combined. For Critical Illness the maximum coverage per account is $150,000 per account or up to $300,000 for all Scotia Line of Credit accounts combined. Disability coverage pays a monthly benefit of 3% of your account balance up to a maximum of $3,000 per month and up to 24 months.
There is an overall maximum of 48 months of benefit payments per insured person's lifetime on all Scotia Line of Credit accounts combined.