HSBC Insurance Brokers (Philippines) Inc.
Credit Protect Plus
http://www.hsbc.com.ph/1/2/personal/insurance/creditprotector
Life is unpredictable!
You'll never know what you're going to get. To get you through the tough times, we introduce Credit Protect Plus! It pays off the outstanding credit card balance in the event of cardholder's death or total and permanent disability, and the only card insurance that has Lost Card Protection and Life Events Benefit!
Credit Protection
Credit Protect Plus pays off the outstanding balance, including unbilled transactions (up to a maximum of P 400,000 per credit card), in the event of your death or total & permanent disability for a minimum cost of 69 cents per P 100.00 of the account outstanding balance.
Lost Card Protection Insurance
Lost Card Protection will cover up to 50,000 pesos of unauthorized transactions made on your HSBC credit card w/in the 24-hour period before the card is reported as lost to HSBC.
Life Events Benefit
Your Life Events Benefit will pay you in the next 3 months a monthly benefit equivalent to 5% of your closing statement balance following the date you experience any of the covered 5 life events. See below list.
The Five Covered Life EventsThis means Credit Protect Plus will make card repayments for you if you have an accident, get sick, or lose your job. You won't have to pay for unauthorized transactions if your card gets lost or stolen. And your minimum monthly payments will continue to be made by Life Events Benefit on your card for the next three months if you experience any of the five covered life events.
Credit Protect Plus is underwritten by Pru Life U.K. while Life Events Benefit and Lost Card Protection Insurance is underwritten by Prudential Guarantee Assurance Inc. These insurance products are marketed by HSBC Insurance Brokers (Philippines) Inc. Coverage under these insurance products are subject to the Exclusions and Conditions of the Policy Contracts which will be sent to you after your enrollment has been accepted.
Credit Protect Plus is an obligation of Pru Life U.K. and is not a deposit with, or product or obligation of, nor is it guaranteed by HSBC, HSBC Insurance Brokers or any of their subsidiaries or affiliates.
Steps for Applying
1. If you are an existing HSBC credit cardholder, download and complete the application form
2. Fax it to us at (02) 830-5176
Terms and Conditions for Protect Plus
DECLARATION
I declare that I am between 21 to 60 years old, physically and mentally healthy, actively performing my normal daily activities.
I understand and agree that the insurance on this application, if applied for, is based on the truth of the foregoing representation and is subject to the provisions of the Insurance Policy issued by Pru Life U.K to HSBC for its cardholders.
I authorize The Hongkong and Shanghai Banking Corporation Limited (HSBC) and HSBC Insurance Brokers to disclose to Pru Life U.K, upon inquiry of the latter, my credit card number, including the number of any renewal or replacement credit card that is issued to me, and any information or data about me that is contained in my credit card application form and other records of HSBC for purposes of Credit Protect Plus. I authorize the debit of my Credit Protect Plus monthly premium charges from the enrolled card issued by HSBC.
Beneficiary Designation
Benefits, if any, are payable to HSBC or to pay-off the cardholder's outstanding balance. Anything in excess shall be payable to the person or persons then surviving in the following order of preference: a) widow or widower; b) surviving children; c) surviving parents; d) surviving brothers and sister; e) executors or administrators.
Frequently Asked Questions
CLAIMSHow do I make a claim?
Call HSBC Insurance Brokers at 830 5788 between 9 am to 5 pm Mon-Fri.
Is there any time period limitation for reporting of a claim?
All claim requests must be received within 90 days from the date of card loss or life event occurrence.
What is your turn around time for claims payment?
Claims will be paid within 45 working days upon receipt of valid document requirements.
Can I claim more than one Life Event in one year?
A cardholder can only claim for one event per policy year.
OTHERS
What is the major exclusion of Life Events Benefit& Lost Card Protection?
Any dishonest, fraudulent or criminal act of the Cardholder/s acting alone or in conjunction with others. Please read your Credit Protect Plus Certificate for the complete list of exclusions. Cash advance and supplementary transactions are not covered under Lost Card Protection Insurance.
When will I receive my Credit Protect Plus Certificate?
The Credit Protect Plus Certificate will be sent at customer's billing address in 3 weeks.
Who is PRU Life U.K.?
PRU Life UK is one of the top-rated life insurers in the country today. Its parent company, Prudential, is a UK-based, 161-year old financial brand that is respected and trusted all over the world, where it manages an extensive network life insurance and mutual funds operations. In Asia, Prudential's presence spans more than 70 years through 11 countries including Hong Kong, Singapore, Malaysia, China, Taiwan, Japan, Thailand, Vietnam, Indonesia, India, Korea and the Philippines.
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