Scotia enhances insurance portfolio

SCOTIABANK has enhanced its insurance services, which are now tailor-made to meet the diverse needs of its client base.

A release from the bank on Tuesday spoke of its recently introduced Scotia Elevate plan, which was described as a versatile insurance solution that comes with up to $500,000 in life insurance coverage – with no medical tests required. Just a few short questions need to be answered from a Scotia Insurance adviser to get the process started.

This also allows for customised investments across three different investment funds, based on the customer's risk appetite and investment objectives.

Jarod Perryman, managing director, ScotiaLife TT (Scotia Insurance), said, “Scotia Elevate is designed for people who are seeking insurance for the first time and those looking for enhanced benefits to complement their existing policies.

"Customers can continue to protect their loved ones while investing towards important financial goals, such as purchasing a home or funding their child’s education."

Scotia also offers two annuity solutions to help customers plan for their retirement with flexible retirement ages between 50 and 70 and the ability to add lump sums to the policy at any time.

Policyholders can also choose an investment fund that matches their risk appetite, while ensuring their retirement goals are met.

The release also pointed to Scotia Insurance's Scotia Platinum option, which it said is a Board of Inland Revenue-approved deferred annuity, so policyholders save on their personal taxes.

It aims to help people prepare for a comfortable retirement by providing the opportunity to make tax-advantaged contributions with customised investment options.

For those who do not pay taxes, Scotia Legacy is the solution to help them plan for retirement. It is a deferred annuity that has a guaranteed life insurance benefit as an additional feature of the plan.

“We encourage everyone to make a plan for their future with proper financial planning that includes structured savings, prudent investments and adequate life insurance and retirement solutions.

Scotia Insurance advisers can be reached via e-mail: SLTTCustomerExperience@scotiabank.com; phone 62SCOTIA (627-2684) or; log on to tt.scotiabank.com/sltt.