Permanent Disability, Terminal Illness and Death Cover
If you become permanently disabled, terminally ill or die, your policy could pay the outstanding balance on your credit card on the date of the claim event (up to a maximum payment of $25K) and will pay you or your estate the same amount again as a cash payment.
Temporary Disability and Involuntary Unemployment Cover
If you are unable to work due to injury or illness, or if you become involuntarily unemployed, your policy could pay 20% of the outstanding balance on your credit card each month that you are eligible.
That's more than 10 times the minimum monthly payment required on your card, and will pay off the outstanding balance that you had at the time of the claim event after only 5 months.
Monthly Premium
Your CreditCard Plus premium is $0.55 per $100 of your credit card balance. We calculate your premium based on the closing balance on your monthly credit card statement. This is different to your minimum payment due date.
Your premium is calculated monthly in arrears and charged directly to your credit card.