ADCB Credit Shield Insurance for Credit Cards in UAE

By Krunal Gandhi
  | Published: 26 October 2021

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Founded in 1985, ADCB is one of the leading banks in the United Arab Emirates. The Abu Dhabi Commercial Bank is headquartered in Abu Dhabi. It is the third-largest bank offering retail, Islamic and commercial banking services for individual and corporate clients in the UAE.

Credit cards are one of the best-performing banking products of ADCB bank. All the ADCB credit cards offer unique features with dining, lifestyle, travel and entertainment benefits. The best part about the bank is that it offers credit shield insurance with almost all the credit cards to financially support its customers.

With the ADCB Credit Shield Insurance facility, the cardholders get financial protection against any unfortunate event such as loss of employment, disability, illness or death. Additionally, the cardholders can avail of a free life insurance cover, including Natural Death and Top-Up life covers, when they apply for the credit shield benefit.

Policy Coverage Offered by ADCB Credit Shield Insurance Credit Cards

Here is the insurance coverage that the ADCB Credit Shield Insurance facility offers.

1. Involuntary Loss of Employment

ADCB Credit Shield Insurance offers coverage against the loss of employment of the policyholder. With the facility, the cardmember can get 10 per cent of the ADCB credit card outstanding amount or credit limit, whichever is lower, up to AED 4,000 for each month. In addition, as per the plan, the duration for the protection must not exceed 12 months from the date of unemployment.

2. Permanent Total Disablement or Death due to Accident

ADCB Credit Shield Insurance offers 100 per cent of the sum assured subject to the maximum indemnity limit of each ADCB credit card in the event of permanent total disablement or death caused due to an accident. 

3. Permanent Total Disablement or Death due to Sickness

ADCB Credit Shield Insurance offers 100 per cent of the sum assured subject to the maximum indemnity limit of each ADCB credit card in the event of permanent total disablement or death caused due to sickness.

4. Top-Up Life Cover

ADCB Credit Shield Insurance also covers death by other natural or accidental causes. In such events, the insurance company provides the policyholder’s beneficiary with a maximum indemnity limit based on the terms of the chosen ADCB credit card. 

5. Critical Illness

ADCB Credit Shield Insurance offers coverage against critical illnesses while the cover of the benefit is active. The insurance company provides the policyholder with the sum assured up to the maximum indemnity limit of the chosen ADCB credit card.

Coverage Limits of ADCB Credit Shield Insurance for Credit Cards

Policy Coverage

World Elite

World/ Infinite/Signature

Platinum

Gold/Titanium

Classic

Natural Death/Total & Permanent Disablement due to Sickness

AED 500,000

AED 200,000

AED 100,000

AED 75,000

AED 50,000

Accidental Death/Total & Permanent Disablement due to Accident

AED 500,000

AED 200,000

AED 100,000

AED 75,000

AED 50,000

Critical Illness

AED 500,000

AED 200,000

AED 100,000

AED 75,000

AED 50,000

Top-Up Life Cover

Not Applicable

AED 200,000

AED 100,000

AED 75,000

AED 50,000

Involuntary Loss of Employment

Not Applicable

With the facility, the cardmember can get 10 per cent of the ADCB credit card outstanding amount or credit limit, whichever is lower, up to AED 4,000 for each month. In addition, as per the plan, the duration for the protection must not exceed 12 months from the date of unemployment.

Premium Cost of ADCB Credit Shield Insurance for Credit Cards

ADCB credit card members will be charged a monthly nominal premium of 1.04 per cent (including Value Added Tax (VAT) at the rate of 5 per cent) of the total monthly credit card outstanding amount. The billed amount gets reflected on the monthly credit card statement.

Eligibility Criteria for ADCB Credit Shield Insurance for Credit Cards

Age Criteria

Death, Disability & Critical Illness Benefit

Involuntary Loss of Employment (ILOE)

Minimum Age at Entry

18 Years

18 Years

Maximum Age at Entry

69 Years

59 Years

Maximum Age at Claim

70 Years

60 Years

How to Apply for ADCB Credit Shield Insurance for Credit Cards?

ADCB credit card members need not apply for ADCB Credit Shield Insurance separately. They are already registered for the credit shield insurance programme until they cancel it. If any cardholder does not want to avail of the service, they can call the bank anytime and place a request for the cancellation. The bank will cancel the credit shield insurance membership within 3 months.

Based on the terms and conditions, the ADCB credit card members get the Credit Shield Insurance scheme offered by Abu Dhabi National Insurance Company (ADNIC). 

Terms & Conditions for ADCB Credit Shield Insurance for Credit Cards

Here are the general and special terms and conditions of ADCB Credit Shield Insurance followed by its exclusions. 

General Conditions:

  1. ADCB primary credit cardholders are covered under this policy if they hold a valid credit card issued by the policyholder on or after the commencement date of this policy, on a compulsory basis.
  2. The applicants of a minimum age of 18 years or more are eligible for the ADCB credit shield benefits. The maximum age for the coverage is 69 years and the active covers will expire as soon as the cardmember reaches 70 years of age.
  3. In case any covered event takes place, the insurance company will pay the sum insured as mentioned in the scope of cover, based on the terms and conditions of the chosen policy.
  4. The insurance company is not liable to pay any interest in respect to the period between the date of loss, injury or death and payment of the sum assured to the policyholder or his/her family.
  5. All dues payable to or by the company as per the insurance policy shall be paid at the head office of the company. In addition, any sum assured payable by the insurance company to the policyholder shall be a complete discharge to the company in respect of that sum. The company will make all benefits on account of the claimant or cardholder to the policyholder.
  6. The policyholder pays the premium based on the death sum insured (Top-up life cover sum insured + outstanding credit balance) applicable for all the credit cardholders, including primary and supplementary, on the agreed date of each month. The company provides a grace period of up to thirty (30) days to the cardholders to make payment of all premiums due. During this time, the insurance policy shall remain in force. In case the policyholder does not make any of the premium payments due within the said grace period, the insurance plan shall become void at the end of such period. However, the cardholders need to pay a pro-rata premium for the insurance plan up to the end of the grace period.
  7. The insurance coverage is valid for the insured members only during the period of insurance of the master policy signed between the insurance company and the policyholder. In case the master policy signed between the policyholder and the company gets renewed, the insurance cover under this policy will continue for the insured members.
  8. The insurance cover shall terminate: (I) If the master insurance policy signed between the insurance company and the policyholder expires and does not get renewed by both parties thereafter. (II) If the policyholder fails to pay the premium based on the insurance policy provisions or if the credit card account gets overdue by three months or if the cardmember gets declared as absconding or if any of the credit card authorities file a complaint about non-payment of the dues or a judgment is entered in any court with respect to the indebtedness thereunder. (III) If the credit cardholder reaches the age of 70 years. (IV) In the event of the cardholder’s valid natural death. 
  9. In case the policyholder claims the insurance cover, it must be notified to the insurance company as soon as possible or not more than 30 days after the occurrence of the incident giving rise to the claim. The policyholder also needs to provide supporting evidence required by the company. 
  10. The insurance company can ask for any required satisfactory evidence of the policyholder’s age before any benefit is paid in respect of any claimant under this policy. In case the insurance company discovers that at the time of reporting this claim, the age of the policyholder was understated and his real age was 70 years or more, or that the credit cardholder would have reached 70 years of age prior to his stated anniversary date of the policy, the liability of the insurance company shall be limited to a return of the premium paid in respect of that cardholder. The company is not liable to pay any benefits in respect of a cardholder who attains the Maximum Coverage Age specified in the Eligibility Conditions Section of this policy (at which time that cardholder shall not be covered).
  11. The cardholder needs to maintain a record of all credit cardholders insured hereunder and their outstanding credit card balance in addition to the Top-Up life cover amount of each credit cardholder. 
  12. This policy shall be governed by and construed in accordance with the laws of the Emirates of Abu Dhabi and United Arab Emirates. Any claims or disputes relating to or arising out of this insurance policy shall be reported to and handled by the exclusive jurisdiction of the competent courts of the Emirates of Abu Dhabi.
  13. All monetary amounts specified in this policy are expressed in the currency of the United Arab Emirates, referred to herein as UAE Dirham. 

Special Conditions: 

  1. The insurance company offers full-time insurance coverage under this policy on a worldwide basis.
  2. The primary cardholders are covered provided the number of cardholders and outstanding balance declared are within the estimated figures declared.
  3. The cover includes pilots of airlines and aircrew while on duty as paid employees.
  4. The insurance policy is extended to cover credit cardholders involved or taking part purely and solely for pleasure purposes in winter sports, Motor Cycling, Polo, Hunting, Mountain or Rock Climbing necessitating the use of ropes, Show Jumping, Caving or Pot Holing, Boxing or other martial arts.
  5. If a member has multiple credit cards, the insurance company pays the aggregate benefit amount, which is twice the sum insured amount provided the outstanding balance of all cards are declared to the company.
  6. Addition of members: An eligible member can become an insured member only after due intimation and submission of all information and details in the form and manner specified by the company after the date of inception of the group policy or the annual renewal date. The company may require evidence of insurability for providing the group life insurance coverage to the insured members in case the sum insured exceeds the free cover limit. 
  7. Deletion of members: An insured member can be deleted from the insurance coverage policy after the date of inception of the group policy or the annual renewal date if he or she fails to fulfil any one or more of the eligibility criteria as defined in Eligibility Conditions of the insurance policy. 

Exclusions

Following are a few exclusions of the ADCB Credit Shield Insurance policy. There will be no benefit payable under any of these endorsements if any of the events or incidents occur either directly or indirectly because of any of the below-mentioned causes.

1. Death Benefit

(a) The policyholder’s active participation in warlike operations or an active member of military forces, including the army, air force, navy, territorial army or police or any other special forces activated by public authorities or government to defend law and order. In case the policyholder takes part in a warlike operation or takes up arms in an active or defensive role. 

If the policyholder is permanently assigned to a country after a war has been declared in that zone, the passive war cover is excluded. If the warzone has been recognised by the United Nations or where there are warlike operations as described above are excluded. Permanent, mentioned above, means an assignment of more than twenty-eight (28) days. 

(b) The policyholder is covered even if a terrorist activity takes place but not when the insured cardholder is involved as an active participant. 

(c) Indirectly or directly occasioned through war, rebellion, invasion, revolution, act of foreign enemy, hostilities (whether war be declared or not), civil war, insurrection, state of siege, military or usurped power, martial law or any of the events or causes that determine the maintenance or proclamation of martial law or state of siege, violence, sacking, looting or pillage and terrorism.

(d) Indirectly or directly occasioned through deliberate or accidental spread or use of chemical, atomic or biological material including death caused by, in connection with or resulting from any action taken in controlling, suppressing, preventing or in any way relating to any event where atomic, chemical and biological material is involved.

(e) Nuclear fission, nuclear radiation, nuclear fusion and/or radioactive contamination. 

(f) Self-inflicted injury / Suicide within 12 months of the commencement date.

(g) Indirectly or directly occasioned through any criminal or unlawful act of the insured person.

Claim Procedure for ADCB Credit Shield Insurance for Credit Cards

ADCB credit card members or their beneficiaries need to contact Abu Dhabi National Insurance Company to claim the credit shield insurance. Here are a few simple ways of doing the same.

  • Via Phone: The cardmembers can contact Abu Dhabi National Insurance Company by simply calling them at 02 408 0100 or 800 8040.
  • Via Fax: The cardmembers can contact Abu Dhabi National Insurance Company by sending a fax at 02 626 8600. 
  • Via Email: The cardmembers can also contact Abu Dhabi National Insurance Company by sending an email to consumerlinesclaims@adnic.ae or mail_insurance@adcb.com.
  • Visit the Branch: ADCB credit card members can visit the bank’s branch as well to file the credit shield insurance claim. They need to fill the claim form and submit it with the essential documents.

Once the claim gets registered, the ADNIC will go through the required documents and allocate the claim number to the cardmember. Please note that it takes around 30 days from the date of the event taking place to the claim getting processed by ADNIC.

Other Bank's Credit Shield Insurance for Credit Card in UAE

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Citibank Credit Shield Insurance for Credit Cards
Krunal Gandhi
Krunal Gandhi0 Post

Hi there, myself Krunal Gandhi. I have five years of experience in the content industry and have worked in diverse fields such as sports, technology and education. I'm a sports enthusiast who loves watching Cricket and Tennis. I also like to watch web series and movies having good content – after all, 'Content is King' and it's applicable everywhere.