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ScotiaLife Financial Expands Insurance Product Offering

Offers two new life and health products, exclusively for Scotiabank customers apart from home and auto insurance

Scotiabank Group has unveiled an upgraded suite of insurance products and services, with new online capabilities and the Group’s first retail storefront, a ScotiaLife Financial Insurance Centre. The bank has said that the centre represents a new distribution channel and will initially offer Scotia Home and Auto insurance with licensed agents on-site.

The home and auto insurance offering is expected to provide coverage for vehicles, including motor homes and snowmobiles, as well as residential and vacation homes, condominiums and the personal property of renters. ScotiaLife Financial also offers two new life and health products, exclusively for Scotiabank customers. ScotiaLife Critical Illness Insurance complements customers’ existing disability insurance and extended health care plans, paying a one-time lump-sum benefit following diagnosis of heart attacks, cancer or strokes, with up to $100,000 of coverage. ScotiaLife Health and Dental Insurance is a coverage that includes emergency travel protection and optional dental coverage for individuals not covered by an employer plan or looking to supplement existing plans.

Robin Hibberd, EVP, Personal Lending and Insurance, said: Insurance is a critical component of Scotiabank Group’s strategic priorities. Today’s events represent the culmination of efforts in executing the Group’s strategic initiatives. We continue to see insurance as a growth platform for Scotiabank Group and we will endeavour to further expand the insurance business going forward.

Mark Cummings, SVP and head, Insurance Canada, said: Our new home and auto insurance offer is something our customers have been enquiring about for some time now. We are committed to expanding our product suite, acquiring new customers and providing exceptional levels of service while growing our insurance business.