Credit Protection for Credit Cards

Credit Life Protection can pay off the outstanding balance on your credit card account in the event of your death, removing these worries from your loved ones.

Critical Illness Protection is a living benefit, which means that the outstanding balance on your credit card account can be paid in the event you are diagnosed with a covered critical illness (specifically heart attack, cancer, or stroke).

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coverage to your Life Protection, or consider joint coverage if you have a secondary cardholder on your account.

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if you are less than 70 years old on the date you enrol for Life Protection, or less than 60 years old if you decide to enrol for both Life and Critical Illness Protection.

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are asked

Affordable monthly premiums for Credit Protection are based on your outstanding account balance and your coverage choices.

Your monthly credit insurance premium amount is added to your Scotiabank credit card account automatically and is reported on your statement.

No premium will be charged if your previous month's statement balance was zero.

Single Life coverage costs just 29 cents for every $100 of your outstanding account balance on the previous month's Scotiabank MasterCard statement. Joint Life coverage (two people) on the same Scotiabank MasterCard account costs 52 cents for every $100 of your outstanding account balance on the previous month's Scotiabank MasterCard statement.

Single Life and Critical Illness coverage costs just 53 cents for every $100 of your outstanding account balance on the previous month's Scotiabank MasterCard statement. Joint Life and Critical Illness coverage (two people) on the same Scotiabank MasterCard account costs 95 cents for every $100 of your outstanding account balance on the previous month's Scotiabank MasterCard statement.

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