Scotiabank Health Insurance Review 2025

Key features of Scotiabank’s health insurance plans

Scotiabank’s health insurance, offered through ScotiaLife Health & Dental Insurance program, is designed to provide foundational health and dental benefits. Here are the key features of ScotiaLife health coverage: 

Learn more: What does health insurance cover?

Pros and cons of Scotiabank’s health insurance

As one of Canada’s leading financial institutions, Scotiabank provides customers with affordable, accessible health coverage tailored to everyday needs. However, while the program includes strong foundational benefits, it may not meet the needs of those seeking high reimbursement caps or extensive dental care. 

Here’s a closer look at the advantages and drawbacks of ScotiaLife’s health insurance:

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Types of Scotiabank’s health insurance

Scotiabank offers three types of health insurance: health coverage, dental insurance, and critical illness insurance. Here are a few key details to note about these products: 

• Coverage bundling: ScotiaLife health insurance can be purchased alone, or with dental insurance. Dental insurance cannot be purchased on its own.
• Coverage levels: ScotiaLife only offers single-level plans for health and dental coverage
• Critical illness: There are two tiers of ScotiaLife critical illness coverage; standard, and enhanced

ScotiaLife health insurance

Scotialife health insurance may be a practical choice for coverage if you are an existing Scotiabank customer or a spouse of one, and you need basic-level coverage for you and your family members. 

Coverage is available to Scotiabank customers who meet the following criteria:

• Canadian resident
• 18 to 64 years old
• Scotiabank customer, spouse or dependent child of a Scotiabank customer
• Covered by a provincial or territorial healthcare plan

Here’s what you’ll get from a ScotiaLife health insurance plan on its own, without dental coverage:

ScotiaLife dental insurance

Scotiabank gives customers the option to add dental coverage to their health insurance plans, including reimbursements for oral exams, x-rays, teeth polishing, and more. The plan covers 75% of costs up to a maximum of $500 in the first year of coverage, then up to $750 in subsequent coverage years.

Here’s an overview of ScotiaLife’s dental insurance coverage: 

ScotiaLife critical illness coverage

ScotiaLife offers two types of critical illness plans: a standard plan and an enhanced plan. Both plans provide a lump-sum benefit that can be used any way you choose in the event of a critical illness that prevents you from working.

ScotiaLife critical illness coverage is offered to Scotiabank customers and spouses who are Canadian residents and meet the age requirements (18 to 64 for standard, 20 to 74 for enhanced). Acceptance is guaranteed for both plans if you meet the criteria, meaning you won’t need to complete a medical questionnaire or examination.

Here are the benefits for each plan type:

How much does Scotiabank health insurance cost?

The cost of your ScotiaLife health insurance plan will depend on factors such as your age, family size if you’re seeking coverage for you and your loved ones, and whether you choose to purchase health insurance alone, or health and dental coverage. 

We looked at average premiums for policyholders ages 30 to 44 with both plans, and here’s what we found:

Take Note

Health and dental insurance quotes for ScotiaLife customers vary with age. For example, the average cost of single coverage health insurance costs an average of $40.45 for an applicant between 30 to 44 years old, but the same plan type could cost approximately $61.86 for someone between 60 to 64, or $29.09 for individuals between 75 to 79.

Is Scotiabank health insurance worth it? 

ScotiaLife health insurance may be a worthwhile option, especially if you’re already a Scotiabank customer seeking basic, reliable coverage at a lower cost. However, it may not be the best fit for those with complex or high-cost medical needs. 

It may be worth it if you:

• Want affordable, long-term health insurance tied to your banking
• Prefer simple plan options with essential coverage included
• Value features like a drug card and lifetime eligibility
• Need dependable coverage for common prescriptions, paramedical care, and vision

It may not be worth it if you:
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• Need extensive dental care, orthodontics, or major dental procedures
• Are looking for high reimbursement limits or full coverage for specialty drugs
• Aren’t a Scotiabank customer or want more flexible plan eligibility
• Prefer plans with shorter waiting periods or higher customization options

FAQ: Scotiabank health insurance