Permanent life insurance

Lifetime security for your loved ones with lifelong insurance protection.

What is permanent life insurance?

Imagine the security that comes from knowing your beneficiaries have financial support at the end of your life.

Permanent life insurance offers lifelong protection as long as premiums are paid. This is different from term life insurance, which covers you for a set term which must then be renewed at a higher premium for any additional term.

Benefits of permanent life insurance

Lifelong protection

Financial security for your chosen loved ones with lifelong insurance protection.

Tax-free payout

Your loved ones are guaranteed to receive a tax-free death benefit.

Fixed premiums

With most types of permanent life insurance, your premiums are guaranteed to stay the same for your whole life.

Types of permanent life insurance we offer

Choose which option works best for you. 

Scotia Term to 100 Whole Life Insurance

  • Coverage: From $25,000 to $20 million ($10,000 for ages 66 to 75)
  • Premiums: Guaranteed level premium payable until the policy anniversary nearest age 1001
  • Health Screening: You must answer some health questions, and a medical exam may be required
  • Who’s eligible to apply?: Canadian residents ages 18–75
  • Money back guarantee: 10 days
  • When will my policy be issued?: Majority of approved policies issued within 5 days

SPECIAL OFFER
Save 10% on first year premiums*
We offer preferred rates for eligible customers. Talk to a licensed advisor to learn more.

Learn moreLearn more about Scotia Term to 100 Insurance

Guaranteed Life Insurance

  • Coverage: From $5,000 to $50,000
  • Premium price: Fixed, to be paid only until the policy anniversary after your 90th birthday2
  • Health screening: No medical exam or health questions
  • Who’s eligible to apply?: Canadian residents ages 25–75
  • Money back guarantee: 30 days
  • When will I be approved?: Eligible applications may be approved when you call for a quote 
Learn moreLearn more about Guaranteed Life Insurance

Frequently asked questions

Ready to choose?

Get lifelong protection with permanent life insurance that’s right for you. 

Scotia Term to 100 Whole Life Insurance

Apply for up to $20 million in coverage.

Guaranteed Life Insurance

Get instant approval with no health questions or medical exam.

®

Scotia Insurance is a registered trademark of The Bank of Nova Scotia, used under license by BNS Insurance Agency Inc.

 

All insurance coverage is subject to certain limitations, restrictions and exclusions outlined in the applicable Policy of Insurance.

 

Scotia Term to 100 Whole Life Insurance is underwritten and issued by The Empire Life Insurance Company and distributed by BNS Insurance Agency Inc. The Empire Life Insurance Company: 259 King St. East, Kingston, ON K7L 3A8, Tel: 1-877-548-1881, www.empire.ca

 

Scotia Term to 100 Whole Life Insurance coverage is currently not available in Quebec and Nunavut.

 

Scotia Guaranteed Life Insurance is arranged for by BNS Insurance Agency Inc. (“BNSIA”) and serviced by Combined Insurance Company of America (“Combined”). Policies are underwritten, and claims are handled by, Combined. 

 

Combined Insurance Company of America, Canadian Head Office: P.O. Box 3720, MIP

Markham, ON L3R 0X5

1-800-490-1322

https://www.combinedinsurance.com

Combined, a Chubb Company

 

Scotia Guaranteed Life Insurance coverage is currently not available in Quebec and Nunavut.  

*
To qualify for the Scotia Affinity Rate premium discount of 10% on premiums (“Scotia Insurance Affinity Rate”) in the first policy year of a Scotia Term Life insurance policy issued by Empire Life, you must be either (i) a customer or employee of The Bank of Nova Scotia, (ii) a customer or employee of another member of the Scotiabank group of Companies or (iii) a member or employee of SCENE+ loyalty program at the time you sign your insurance application. Scotia Insurance and/or The Empire Life Insurance Company may require additional information to validate your eligibility. This offer cannot be combined with any other offer and may be changed, withdrawn, suspended, or extended at any time without notice, subject to applicable law.
1
Premiums are guaranteed to remain the same to age 100. Premiums end at age 100 and the coverage remains in place for your lifetime.
2
Your coverage remains active as long as you pay your premiums on time. Your policy will become fully paid up on the policy anniversary date following your 90th birthday.