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Free Insurance Covers : These insurance covers are available free on credit cards, you can also avail the benefit

Many credit cards offer waiver of the outstanding balance in case of accidental death, providing additional protection to the families of cardholders.

Free Insurance Covers

Travel Insurance

Many credit cards offer travel insurance to their customers, which covers situations such as lost luggage, trip cancellation, and medical emergencies while travelling. If the luggage is not found within a certain time frame, claims can often be made for the lost luggage as well.

Accidental Insurance

Many credit cards offer waiver of the outstanding balance in case of accidental death, providing additional protection to the families of cardholders. Depending on the type of card, the amount of insurance cover may vary. For example, coverage for road accidents can range from ₹2,00,000 to ₹4,00,000, while coverage for aviation accidents can go up to ₹40,00,000.

Purchase Protection Cover

This feature typically covers loss or theft of items purchased within a specified time frame, allowing claims of up to ₹50,000.

You can avail these covers by paying a very low premium

You can avail several insurances on your credit card by paying a nominal monthly premium:

Credit Life Insurance

This coverage ensures that if the cardholder dies or is unable to manage his credit card balance due to disability or unemployment, the outstanding bill is paid by the bank.

Credit Disability Insurance

If a cardholder becomes disabled due to a medical condition, this insurance covers the minimum payment due on the card for a specified period. However, it does not cover purchases made after the onset of disability.

Unemployment Insurance

If the cardholder suddenly loses his job, this insurance will cover the minimum payment due on his credit card. Similar to disability insurance, it does not cover any new purchases made after losing the job.

Bhupendra Pratap
Bhupendra Pratap
Bhupendra Pratap has over 3 years of experience in writing finance content, entertainment news, cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @insuranceindiaain@gmail.com
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