Welcome to Republic Bank BalanceCover


Dear Valued Customer,
As part of our continued transition to the Republic Bank suite of products, we are pleased to welcome you to Republic Bank BalanceCover insurance coverage for credit cards.

Effective September 1, 2021, Scotiabank Credit Card Protection Plan will be rebranded as Republic Bank’s BalanceCover*. BalanceCover is a simplified and more cost-effective solution while providing the benefits, security and the guarantee of having your credit card balance repaid, in full, in case of death or critical illness.

BalanceCover comes with the following enhancements:

  • Life and Critical Illness insurance coverage at one fixed premium rate of $0.52 for every $100 (regardless of currency) of outstanding balance on your card. For example if your balance, at the time of billing, is $500, your premium would be $2.60 ($500 x $0.52/$100 = $2.60).
  • Both Primary and Secondary cardholders on the same account are covered without the need for additional premium. Covering both cardholders at no extra charge lowers the cost of your plan and ensures that your credit card account is fully protected.

Your updated BalanceCover Certificate of Insurance is included here for your information.

Our records indicate that your credit card account is currently enrolled in the insurance plan. In order to make this a smooth transition for you, your credit protection will be automatically converted to BalanceCover with no need for you to come into the branch. If you have any questions, require further information, or wish to opt out of BalanceCover, please call us at 767-448-4725 (4RBL) or email us at conversion@rfhl.com


Gina Severin
Country Manager
Republic Bank (EC) Limited - Dominica

*Republic Bank BalanceCover insurance coverage will continue to be underwritten by Scotia Insurance Eastern Caribbean Limited.