If you're in the market for life insurance, you've probably come across Scotia Life.
They offer a range of policies to suit a variety of needs, and they're one of Canada's leading providers of life insurance. But is Scotia Life the right provider for you?
In this review, we'll take a closer look at their policies and rates, and see how they compare to other providers. Stay tuned for the inside scoop on Scotia Life!
Who is Scotia Life Insurance?
Scotia Life Financial is the life insurance subsidiary of Scotia Bank, the third-largest bank in Canada. They entered the insurance market through its subsidiary in 2009, as banks are not allowed to sell insurance products directly. Scotia Life Financial sell their products through their own captive agents and offer several types of financial protection as well as life insurance, including home and auto insurance.
However, Scotia life insurance products are available only to Scotiabank customers.
Scotia Life Facts & Financial Information
Founded in 1900
Headquartered at 40 King St W, Toronto, ON M5H 1H1, Canada
$1 trillion in Financial Assets
No BBB Rating
AM Best Financial Strength Rating: A
When shopping for life insurance, always take into account the financial stability of the selected insurers. After all, picking an insurer that then went bankrupt would not only mean a loss of investment but also having to buy the insurance coverage all over again from another carrier.
You can get an idea about a company’s financial soundness by checking its AM Best score. The AM Best Company focuses on the insurance industry and is one of the most reputable credit rating agencies there is. They gave Scotia Life an A (Excellent) rating, which demonstrates that this company is financially stable.