Glossary

Age band

Age band is grouping of ages (e.g., 18-29, 30-34) with assigned rates for each age group.

Benefit schedule

The Benefit schedule is the personalized document that sets out your coverage details and will be included with your Certificate of Insurance.

Certificate owner

Certificate owner means a Scotiabank Group customer or their spouse who made an application for coverage that was approved by Securian Canada and is responsible for paying the premium for coverage issued under the Group Policy and is identified accordingly on the Benefit Schedule.

Coverage amount

The coverage amount is the amount for which you or your eligible spouse are insured under the Group Policy.

Dependant child

Dependant child means any of your children and/or your spouse's children (other than foster children) if they are not married or in any other formal union recognized by law, and are under age twenty-one (21). A dependent child who is a full-time student attending an educational institution under the Income Tax Act (Canada) is also considered an eligible dependent until the age of twenty-six (26) as long as the dependent child is entirely dependent on you or your spouse for financial support.

Effective date

If the eligible person's application is approved by Securian Canada, such insurance will be effective on the date Securian Canada approves the application and premium is paid upon becoming due. Coverage will continue in force, subject to the terms of the Group Policy.

Group policy anniversary date

The group policy anniversary date is January 1 of each year.

Physician

Physician means a legally qualified medical practitioner other than the Insured Person or a relative of the Insured Person, who is lawfully entitled to practice medicine in the place where the medical service was provided.

Scotiabank Group customer

Scotiabank Group customer means a person who has business dealings with Scotiabank or any of its Canadian subsidiaries, affiliates or associated companies.

Spouse

Spouse means the Scotiabank Group customer's spouse by marriage or under any formal union recognized by law, or the Scotiabank Group customer's partner of the opposite sex or of the same sex who is, at the time of application, the person publicly represented as the Scotiabank Group customer's spouse for at least the twelve (12) month period preceding application. Only one person at a time can be covered as the Scotiabank Group customer's spouse under the Group Policy. The spouse must maintain the same principal residence as the Scotiabank Group Customer.