Credit Shield Plus
Stay protected with Credit Shield Plus
Stay protected with Credit Shield Plus
Payout of 10% of total outstanding up to AED 4,000 towards card outstanding and up to AED 1000 to the customer for a maximum period of 12 months.
Payout of Credit Card Outstanding Balance or credit limit, whichever is lower subject to maximum of AED 200,000.
Complimentary cover on Natural Death for total Credit Card outstanding subject to maximum of AED 100,000.
Payout of Credit Card Outstanding Balance or credit limit, whichever is lower subject to maximum of AED 100,000.
Credit Shield Plus, the new and enhanced plan to protect you against the adversities of life. This plan offers you protection against Involuntary Loss of Employment (ILOE), Accidental or Natural Death, plus other benefits.
This enhanced Credit Shield Plus facility with increased protection will be charged at the rate of 0.99% per month of your Credit Card total outstanding balance amount.
The summary below will help you understand Covers under Credit Shield Plus facility.
| Card Takaful Benefit | Covers |
|---|---|
| Involuntary Loss of Employment |
|
| Accidental Death | Credit Card Outstanding Balance or credit limit, whichever is lower subject to maximum of AED 200,000 |
| Permanent Total Disability Accident | Credit Card Outstanding Balance or credit limit, whichever is lower subject to maximum of AED 100,000 |
| Critical Illness | Credit Card Outstanding Balance or credit limit, whichever is lower subject to maximum of AED 100,000 |
| Hospital Cash (due to accident) | Payout of AED 100 per day for 30 days per year |
| Natural Death | Complimentary cover on Natural Death for total Credit Card outstanding subject to maximum of AED 100,000 |
Please note that claims can be submitted within 30 days for your ease & convenience.
Example for Involuntary Loss of Employment scenario:
If your total Credit Card outstanding balance is AED 15,000, then your Credit Shield premium for the month will be AED 148.5 (excluding VAT).
Here`s how you will be protected in the event of job loss:
| Payout towards your Card outstanding | Upfront payment in first month: AED 9,000 (covering first 6 months) |
|---|---|
| Cash benefit for personal use | Upfront payment in first month: AED 6,000 (covering first 6 months) |
| Total Payout | Total claim amount will be capped at AED 15,000, the total outstanding balance of your Card |
Underwritten by Watania Takaful
Credit Shield Plus is underwritten by Watania Takaful (Ethical Insurance), a leading multi-line Islamic insurance provider with long-standing expertise in providing innovative Takaful products to individuals and corporates across United Arab Emirates.
Together let`s protect your interests with Credit Shield Plus.
If at any time you wish to cancel the option, please call 600 599 995.
To know more on: FAQs - click here.
Terms and conditions - click here.
Terms and conditions on Natural Death - click here.
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