Credit Protection for Credit Cards
Right for you if:
You want Credit Protection on your Scotiabank credit card balance
Your Scotiabank credit card can give you convenient access to credit for your everyday purchases and expenses. However, in the event of your death, this convenience could become your family's financial obligation. Credit Protection can remove these worries.
Credit Life Protection can pay off the outstanding loan balance on your credit card account in the event of your death, removing these worries from your loved ones.
At a Glance
for every $100 of outstanding balance if you enrol in Single Life coverage
for every $100 of outstanding balance if you enrol in Joint Life coverage
No health questions asked
Affordable monthly premiums for Credit Protection are based on your outstanding account balance and your coverage choices.
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.
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.
You must be a current Scotiabank credit card customer, and less than 70 years old on the date you sign up for Credit Life Protection.
A note from the insurers:
In this section, we have attempted to explain clearly and briefly the coverage available under this plan.
Coverage is subject to specific limitations and exclusions, including age restrictions, as described in the Certificate of Goup Credit Life Insurance and the Policy, which you will receive upon purchase.
Please refer to the Certificate of Group Credit Life Insurance for details. Insurance is underwritten by Sagicor Capital Life Insurance Company Limited.
Insurance is underwritten by Demerara Mutual Life Assurance Society Limited.