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Insurance
Protect what's most important.
Protect you family's financial well-being. Consider credit protection offered by GK Life Insurance Caribbean Limited, a wholly owned subsidiary of GraceKennedy Financial Group Limited (“GraceKennedy Financial”). GK Life Insurance Caribbean Limited offers credit insurance to Scotiabank customers on their personal loans, mortgages, credit cards, and ScotiaLine accounts.
Credit Protection:
Ensure the principal and interest remaining on your Scotia Plan Loan, Mortgage, ScotiaLine Personal Line of Credit, or Credit Cards - can be paid off in the event of your death, the diagnosis of a critical illness or health crisis.
Available Life coverage at affordable monthly premiums based on your previous month's outstanding account balance. Automatic approval for those under age 70 if enrolling for Life Protection. Single life coverage costs only 29 cents for every $100 of your previous month's outstanding account balance. No premiums charged for zero balance.
Premiums are based on your outstanding account balance and your age. Automatic approval if you're age 65 or under when you enrol for Life coverage.
Ensure that your outstanding loan balance is paid up to the policy maximum in event of your death. Joint coverage available.
Premiums are determined by your age and Mortgage account balance on the date you apply. The younger you are, the less you pay, and joint coverage discounts are available.
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A note from the insurers:
In this section, we have attempted to explain clearly and briefly the coverage available under this plan.