Life Insurance product that provide protection against credit card outstanding amount on the risk of death due to illness or accident and the risk of permanent disability / permanent disability due to total illness or accident.
Sum Assured is the outstanding balance of the Insured Credit card including all remaining installments (if any) calculated since the occurrence of the risk with maximum Sum Insured according to the type of credit card.
The insurance benefit will be paid to the Policyholder to pay the Sum Insured, and the remainder (if any) will be submitted to the Designated Party.
18 years - 60 years (nearest birthday)
This product only applies to Bank Mega customers and can only be activated through Bank Mega Banqassurance channel.
Minimum of 1 month and can be extended until the Insured is 65 years old
Telemarketing distribution channel