Credit protection for Credit Cards.

Safeguard your family from credit card debt.

You're already approved! 
If you're less than age 70† on the date you enroll, you 're approved - no questions asked

 Pay off your outstanding Scotiabank credit card balance in the event of your death or the diagnosis of a covered critical illness

Monthly premiums for credit protection are based on your balance i.e  no premium will be charged if your previous month's credit card statement balance was zero.

Credit Protection for Credit Cards

Your Scotiabank credit card gives you convenient access to credit for your everyday purchases and expenses. Did you know, however, that in the event of your death or the diagnosis of a covered critical illness, this convenience could become your family's financial obligation? 

No worries! With credit protection your loved ones will not be responsible for settling any outstanding balance on your Scotiabank credit card(s). Credit Life Insurance can pay the outstanding loan balance on your credit card account in the event of your death. You also have the option to sign up for both Credit Life and Critical Illness.

Critical Illness Insurance is a living benefit, which means that the outstanding loan 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). If you already have life insurance you may want to add critical illness insurance now or perhaps it is time to consider joint coverage if you have a secondary cardholder on your account.

You're already approved!

As a Scotiabank credit card customer, it's easy to take advantage of this offer. You are already approved for coverage provided that you (and your secondary cardholder if you choose) are less than age 70 on the date you enrol for Life Insurance or less than age 60 if you decide to enrol for both Life and Critical Illness Insurance. No health questions are asked!

  • If you enrol for Life Insurance, the cost for the cardholder (Single coverage) is $0.29 a month for every $100 of outstanding balance on the previous month's Scotiabank MasterCard statement. Life Insurance for the cardholder and secondary cardholder (Joint coverage) on the same Scotiabank MasterCard account costs $0.52 for every $100 of outstanding balance.

  • If you enrol for Life and Critical Illness Insurance, the cost for the cardholder (Single coverage) is $0.53 a month for every $100 of outstanding balance on the previous month's Scotiabank MasterCard statement. Life and Critical Illness Insurance for the cardholder and secondary cardholder (Joint coverage) on the same Scotiabank MasterCard account) costs $0.95 for every $100 of outstanding balance. 

  • Your monthly insurance premium amount is added to your Scotiabank credit card account automatically and is reported on your statement. What's more, no premium will be charged if your previous month's statement balance was zero.

  • Visit a Scotia Insurance office to enrol or for more information about Credit Insurance for credit cards. 

  • †A note from the insurers:
    In this section, we have attempted to explain clearly and briefly the coverages available under this plan. Coverage is subject to specific limitations and exclusions, including age restrictions, as described in the Certificate of Scotiabank MasterCard Credit Insurance or the Certificate of Scotiabank Visa Credit Insurance. Please refer to these Certificates for additional details. Insurance is underwritten by ScotiaLife Trinidad and Tobago Limited (a wholly owned subsidiary of Scotiabank Trinidad and Tobago Limited). 

    Make a plan for your future.