ScotiaLife FinancialBack to list
President & CEO: Oscar Zimmerman
AM Best Rating: Not Rated
Total Assets: $89.5 million
Net Income: $30.6 million
Net Premiums Written: $45.1 million
Financial Size Category: n/a
FSR Outlook: n/a
Best's Issuer Credit Rating: n/a
ICR Outlook: n/a
As of Date: n/a
Organization Type: Stock
Specialty Lines of Business: Term Life Insurance
Marketing Type: n/a
44 King St. W
LSM Insurance is NOT affiliated with ScotiaLife Financial and is not authorized to sell its products
*Information courtesy of AM Best Key Ratings Guide 2013.
About ScotiaLife Financial Insurance Products
ScotiaLife Financial is a subsidiary of Scotia Bank specializing in insurance products. ScotiaLife is the outlet for Scotia Life Insurance Company, the underwriter of ScotiaLife's policies.
The portfolio of ScotiaLife includes life insurance, health insurance, home and auto insurance, travel insurance and even creditor insurance. There are two life insurance products, namely ScotiaLife Term Insurance and ScotiaLife Accidental Death Insurance.
The term insurance plans can be taken out for one, ten or twenty years.
The maximum coverage for the term plans is $250,000 and the minimum is $25,000. There are $25,000 increments. The 1-year term plan is an exception here; it can cover you for up to $1 million. One person cannot be insured for more than $500,000 at ScotiaLife, even if he or she combines multiple plans.
Accidental Death Insurance
ScotiaLife's accidental death policies offers coverage up to $350,000 and is available for couples as well. Client's spouse may be eligible for halved rates if he or she signs a contract in addition to the primary one.
Applicants should keep in mind that ScotiaLife decreases the benefit amount at age 75 and revokes coverage at the age of 80. As usual, ScotiaLife excludes all kinds of accidental deaths happening under the influence of drugs or alcohol (unless prescribed) and will refuse to pay out if death occurred at war or during an "aerial activity" other than a commercial flight. Neither will one be covered if hurt while committing a crime.