credit shield plus insurance policy - National Bank of Abu Dhabi

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SCOPE OF COVERSubject to the terms and conditions provided in this policy the Company shall indemnify the Insured ashereinafter provided:I. Natural Death/Total & Permanent Disablement due to SicknessIn case of death or total & permanent disablement of a Credit Cardholder due to a natural cause orsickness, the cardholder will be relieved of 100% of the credit card account outstanding balance orcredit limit whichever is lower up to a maximum Sum Insured or limit of Dh. 200,0000 regardlessof the number of cards held by the Cardholder. Credit shield cover for the insured member willcease upon payment of this benefitII.Accidental Death / Total & Permanent Disablement due to AccidentIn case of death or total & permanent disablement of a Credit Cardholder due to an accident, thecardholder will be relieved of 100% of the credit card account outstanding balance or credit limitwhichever is lower up to a maximum Sum Insured or limit of Dh. 200,000 regardless of the numberof cards held by the Cardholder in addition to Natural cause or sickness benefits mentioned aboveup to a maximum of Dh 200,000/-.Credit shield cover for the insured member will cease upon payment of this benefitIII.Temporary Total Disablement due to accident or sicknessIn the event of the Credit Cardholder sustains temporary total disablement due to accident orsickness, the cardholder will be relieved from the minimum obligations due on his credit card for aperiod not exceeding three months as maximum.No benefit will be paid for the first thirty days of any period of Temporary Total Disablement benefit.IV.Critical IllnessIn the event of the Credit Cardholder contracting any of the diseases as stated below, the Companyshall relieve the Policyholder of 100% of the credit card account outstanding balance or credit limitwhichever is lower up to a maximum Sum Insured or limit of Dh 200,000 regardless of the numberof cards held by the Cardholder.Critical Ilness covered : Cancer, Coronary artery ( bypass), Heart Attack, Kidney failure and stroke.Benefit shall be pair only once when the covered cancers occur, whether simultaneously orsubsequently.Credit shield cover for the insured member will cease upon payment of this benefitV. Involuntary Loss of EmploymentIn the event of Involuntary Loss of Employment of the Primary Cardholder after the CommencementDate and during the policy period, the Company would pay insured members between 18 to 60years 10% of the outstanding credit balance or credit limit whichever is lower but not exceeding amaximum amount payable of AED 16,700/- for each month of the Primary Cardholdersunemployment subject to the Maximum Monthly benefit payable and the Total Period of suchindemnity shall not exceed 12 months from the date of actual unemployment.However, for pay insured members between 60 to 65 years, ILOE benefit for insured primary cardholder after commencement date and during the policy will be 10% of the outstanding credit orPage 6 of 14HILI6000004
credit limit whichever is lower, but not exceeding AED 16,700/- for each month of the primarycredit card holders unemployment and the total period of such indemnity shall not exceed 4months from the date of actual unemployment.VI.Male & Female Cancer BenefitIn the event of insured member being diagnosed with a Prostate Cancer (for male) /Breast Cancer(for Female) company will pay 100% of the outstanding credit card balance or credit card limit(limited to maximum of AED 200,000/-) whichever is lower, regardless of number of cards held bythe cardholder, as at the date of diagnosis of Prostate Cancer (for male) /Breast Cancer (forFemale) by Company’s chief medical officer.Benefit shall be pair only once when the covered cancers occur, whether simultaneously orsubsequently.Credit shield cover for the insured member will cease upon payment of this benefitVII. Terminal Illness – Accelerated Death Benefits ;In the event of insured member being diagnosed with a Terminal Illness company will pay 50% ofthe outstanding credit card balance or credit card limit( limited to maximum of AED 100,000/-)whichever is lower as at the date of diagnosis of Terminal Illness by Company’s chief medical officerThe amount of the payment will be deducted from the original sum insured. The insured is stilleligible for the Death cover and will continue to pay the premium for the life insurance coverage asif the accelerated life benefit payment had not been made.VIII. Repatriation of Mortal Remains Benefits :In the event of death of the Insured member, the Company will pay the actual expenses incurred inthe repatriation of the mortal remains to the native country of the insured Primary Cardholdersubject to the maximum limit of AED 15,000/-. This benefit is paid in connection with a validdeath claim only.IX. Hospitalization cash benefit ( due to sickness/ accident) :In the event of hospitalization due to accidental bodily injury or sickness manifesting itself duringthe period of insurance from the commencement date of this policy, to exceed a continuous periodof 24 hours , then a daily benefit of AED 100 will be payable by the company.The total number ofdays for which hospital cash benefit is payable in a policy year would be restricted to a maximum of30 days of hospitalization.X. Secure Wallet :Secure Wallet : In the event of the card/s issued pursuant to the credit card facility of theCardholder is lost / stolen anywhere in the world the company will indemnify any or all losses(other than those specifically excluded in the exclusions) applicable to Secure Wallet cover arisingwithin 48 hours prior to the time the card is reported lost or stolen, and /or resulting from misuseof such lost or stolen card by an unauthorized person.Page 7 of 14Section I :Section II:Robbed or stolen cash, following loss or Wallet containing credit card.Fraudulent transaction on lost or stolen credit card issued by the bank in thewallet.HILI6000004
Page 1: Credit Shield PlusDEFINITIONSFor th
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credit shield plus insurance policy - National Bank of Abu Dhabi

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