Credit Protection for ScotiaLine

can pay off the outstanding loan balance on your account in the event of your death, relieving your loved ones of added financial pressure at a difficult time.

is a living benefit, which means that the outstanding loan balance on your ScotiaLine account can be paid off in the event that 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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 are less than 65 years old on the date you enrol for Life Protection or less than 55 years old if you decide to enrol for both Life and Critical Illness Protection

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are asked

Your premium is based on the average daily balance on your ScotiaLine account during the billing period and your age at the end of each ScotiaLine billing period (or in the case of joint coverage, on the age of the older Insured Borrower).

The average daily ScotiaLine account balance during the billing period is divided by 1,000 and then multiplied by the applicable premium rate, as indicated above, to arrive at the premium (and tax, if applicable) for the billing period.

This amount is automatically billed to your ScotiaLine account every billing period and appears on your monthly statement. No insurance premium is charged on your ScotiaLine account if you did not carry a balance on your previous month's statement.

You are approved for coverage provided you and your secondary borrower (if applicable) are less than age 65 on the date you enrol for Life Protection or less than age 55 if you decide to enrol for both Life and Critical Illness Protection.

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