Insurance Coverage for Your Credit Card Balance
BalanceProtector Premiere Plus coverage helps to ensure your credit card balance does not become a burden to you or your family, should the unexpected happen.
Coverage is affordable, so enrol today. Acceptance is automatic1 and you can cancel any time.
This optional insurance covers you for:
Loss of Life / Critical Illness Accidental Dismemberment2
- Receive up to a $25,000 lump-sum payment on your outstanding balance
- Spousal coverage included at no extra cost
Total Disability / Involuntary Unemployment3 /Loss of Self-Employment Income
- Receive a monthly benefit of up to 10% of your outstanding balance, for up to 10 months (to a maximum of $25,000)
Disability Requiring Hospitalization for Accidental Injury
- Receive a single payment of up to 10% of your account balance for each 24-hour period of hospitalization (to a maximum of $25,000)
How Pricing Works
- Your coverage: $25,000 maximum benefit; up to 10% of your account balance for up to 10 months for Total Disability, Involuntary Unemployment, and Loss of Self-Employment Income.
- You pay: $1.19 per $100 of your insured balance4. At age 70, the monthly premium rate is $0.59 per $100 of your insured balance.
Example: If your insured balance is $500, you pay $5.95 per month + applicable taxes for coverage.
You do not have to pay a premium during months when you have no card activity and no previous balance has been carried forward. Plus, you will receive a refund in the amount of the premium charged to your account as of Statement Date prior to your date of loss while on a claim for Total Disability, Involuntary Unemployment, Loss of Self-Employment Income and Lifetime Milestones Service.
We Celebrate Your Lifetime Milestones!
Each time you reach a Lifetime Milestone (such as the purchase of a new home), you will receive a single payment of up to 10% of your outstanding credit card balance (to a maximum account balance of $25,000)!
Eligible Lifetime Milestones
- Purchase of a home
- Birth/adoption of a child
- Final mortgage payment
- You, your spouse, or your child graduate from post-secondary education or a professional certification/designation
- You or your spouse's first job post-graduation
Note: A maximum of 2 Milestones in a 12-month period will be paid. No benefit is payable for any Lifetime Milestone within the first 30 days from enrollment date.
Enrol Today... It’s Quick and Easy!
Your acceptance is automatic and you can cancel at any time.
BalanceProtector Premiere Plus plan is optional creditor's group insurance underwritten by American Bankers Life Assurance Company of Florida (ABLAC) and, American Bankers Insurance Company of Florida (ABIC). ABLAC, ABIC, its subsidiaries, and affiliates carry on business in Canada under the name of Assurant®. ®Assurant is a registered trademark of Assurant, Inc.
Involuntary unemployment due to strike or lockout, dismissal without cause or involuntary layoff.
Please see a sample Certificate of Insurance.