NCB launches credit card insurance

Friday, January 03, 2014    

Print this page Email A Friend!

NATIONAL Commercial Bank (NCB) now offers insurance coverage on outstanding credit card balances up to a maximum of $2.5 million.

The new credit card insurance product, Creditor Life on Credit Cards, was launched by the banking giant yesterday. NCB said the insurance coverage is being underwritten by its insurance subsidiary, NCB Insurance Company.

"The average person rarely thinks about how their debts, including outstanding balances on their credit cards will be paid in the event of a critical illness, or worse, death. Additionally, few think about how family members left behind will be able to cope with the burden of meeting these obligations," NCB said in a press release.

"This insurance coverage ensures that the primary cardholder's dependents will be protected from having to pay off his/her outstanding credit card balances in case the worst happens."

According to NCB, a key feature of the product is that no underwriting is required and the client does not need to provide any proof of insurability or any declaration of health. Coverage is subject to specific limitations and exclusions, including age restrictions, which clients can discuss with their branch representatives, the financial institution said.

Cardholders can choose from two plans. With the "Life Only Plan", in the event of death, the outstanding credit card balance will be paid subject to the maximum limit of $2.5 million. With "Life and Critical Illness Plan", in the event of death or diagnosis of one of the covered critical illnesses (heart attack, cancer or stroke) the outstanding credit card balance will be paid subject to the maximum limit of $2.5 million, the company said.





1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper – email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed:

6. If readers wish to report offensive comments, suggest a correction or share a story then please email:

7. Lastly, read our Terms and Conditions and Privacy Policy

comments powered by Disqus


Should the shift system be eliminated  in high schools?
Not All

View Results »


Today's Cartoon

Click image to view full size editorial cartoon