Bank of Nova Scotia has unveiled ScotiaLife Financial, its new Canadian insurance brand.

Under the new banner, ScotiaLife Financial will offer comprehensive creditor, travel and life and health insurance, the bank said Monday.

“We are excited about the opportunities within the Canadian insurance industry,” says Mark Cummings, senior vp and head, insurance Canada, Scotiabank. “We see great potential and we are working to provide comprehensive insurance solutions Canadians want and need. Given the current economic uncertainty, we believe Canadians are looking to protect not only their individual financial security but also their families’, and we can help in this regard.”

ScotiaLife Financial also announced the launch of their new term life product, ScotiaLife Term 1 Insurance. The new product provides Scotiabank customers the opportunity to obtain flexible, affordable group insurance coverage ranging from $50,000 to $1 million.

“ScotiaLife Financial is committed to expanding its product offering, such as the new ScotiaLife Term 1 product. We will continue to work to develop insurance solutions for our customers,” says Cummings.

ScotiaLife Financial’s launch also includes a new and improved Web site for Scotiabank’s online-banking customers and a new public Web site at www.scotialifefinancial.com that provides Canadians with information on its existing and new product offerings.