Scotia Business Loan Protection

Protect the business you built

Product Benefits

    This vital protection is available to critical members of your business operations, including:

  • A sole proprietor or partner;
  • A guarantor
  • Shareholders owning at least 10% voting shares of the business
  • A key employee whose contributions are essential to an eligible business entity and without whom the eligible business entity would have difficulty operating.

Account Details

Scotia Business Loan Protection is simple but effective insurance. If you or another key employee loses the ability to work, Scotia Business Loan Protection can make regular payments or completely pay off your Scotiabank line of credit, loan or credit card. If you or another key employee passes away, your outstanding loan amounts can be paid in full.

Services

Basic Protection

With Basic Protection, your business can receive a life insurance benefit of up to $2,000,000 if an insured person passes away.

Comprehensive Protection

Life insurance benefit of up to $2,000,000 if an insured person passes away;

 

More Details
  • Disability benefit paid monthly and equal to 1%1 of the Comprehensive coverage amount if an insured person becomes disabled;
  • Hospitalization benefit equal to 2%2 of the Comprehensive coverage amount ; or
  • Terminal Illness benefit equal to the outstanding balances3 on your insured borrowings.

Resources

Frequently Asked Questions

Certificate of Insurance (Sample)

Distribution Guide (For Quebec residents only)

Phone

Prefer to talk to us

1-877-552-5522
In Person

Contact Us

Speak to an Advisor
  • 1,2,3

    Subject to conditions, please contact us for details.