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Credit Protection Insurance
Protect your family's financial well-being. Ensure that that principal and interest remaining you your Scotiabank loan, mortgage, line of credit and/or credit cards are paid in the event of your death or a diagnosis of a critical illness*.
Credit Protection for Credit Cards
- Coverage of outstanding balance up to $85,000
- You're already approved if you are younger than 70 years upon sign up
- Single coverage costs 29 cents for every $100
- 52 cents for every $100 on joint credit cards
- no premium charge for zero balance
Credit Protection for ScotiaLine Gold
- Coverage of outstanding balance up to $1,500,000
- You're already approved if you are younger than 65 years upon sign up
- Premiums based on previous month's balance and your age
- Monthly premiums for Credit Protection
- Your monthly insurance premium is added automatically
Credit Protection for Scotia Plan Loans
- Coverage of outstanding balance up to $1,500,000
- Discount applied when two borrowers insured for the same plan
- Pay off your outstanding ScotiaPlan Loan balance, up to TT$ 1,500,000
Credit Protection for Residential Mortgages
- Coverage of outstanding balance up to $1,500,000
- Premiums determined by age and mortgage balance
- The younger you are, the less premiums you pay
- Purchase joint coverage at a discount