Credit card payment insurance FAQ

1 - Insurance contract

1.1 What is the insured amount?

The insured amount is equal to the debit balance appearing on the last monthly credit card statement before the insured event. The insured amount must not exceed $10,000.


1.2 What is the pre-existing conditions clause?

If death or disability occurs within 6 months of the insurance taking effect and you were treated during the 6 months prior to the insurance taking effect for the same illness, symptom or injury that directly or indirectly resulted in the death or disability, then no benefits will be payable.

You are considered to have been treated if you consulted or received treatment from a physician or other health care professional, underwent tests, took medication or were hospitalized.


2 - Claims

2.1 For claims due to loss of employment, why do I have to submit a form completed by my former employer in addition to a notice of termination of employment?

You have to submit a form completed by your former employer because we need to know the exact reason why you left your job and the number of hours worked per week.


2.2 Do I have to reimburse you for the payments you make on my credit card?

No, you won’t have to reimburse the payments that the insurer will deposit to your credit card account.


2.3 How long do I have to file a claim?

You must file your claim within 90 days of the insured event.