Credit Protection for Scotiabank Mastercard® BusinessCard.
Your Scotiabank Mastercard® BusinessCard is designed to help you manage your business expenses easily and conveniently.
However, in the event of your death or if you are diagnosed with a covered critical illness, this convenience could become your family's financial obligation. Credit Protection can prevent this from happening.
Credit Protection pays off your outstanding BusinessCard account balance, relieving your loved ones of added financial pressure at a difficult time.
Plus, if you choose to provide a Scotiabank Mastercard® BusinessCard to an employee for company use, then the balance outstanding on that card would also be paid off if you were to die or be diagnosed with a critical illness.
Premiums are based on the outstanding account balance of your previous month's Scotiabank Mastercard® BusinessCard statement, plus any outstanding account balance(s) on additional cards issued to your co-owner or employees for company use.
No premium will be charged on a card with a previous month's account balance equal to zero.
A note from the insurers:
Insurance is underwritten by GK Life Insurance Caribbean Limited, which is a wholly-owned Barbados subsidiary of GraceKennedy Financial Group Limited (“GraceKennedy Financial”), and offered through Scotia Insurance Agent Ltd., a Barbados licensed insurance agent of GK Life Insurance Caribbean Limited.
MasterCard is a registered trademark of MasterCard International Incorporated.